Solar Panel Cost Guide in Lafayette, LA (2024 Update)
- Lafayette Solar Installation Cost: $26,408
- 25-Year Savings: $24,684
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Lafayette
Find out what the average cost of solar panels are in Lafayette.
The average cost of a solar system in Lafayette is 4 per watt.Since a 9.9-kW system is needed to cover the energy consumption of a typical home in Lafayette, the average price of going solar will be about $26,408 after claiming the federal solar tax credit of 0.
These figures are only estimates, and the cost of going solar for you may differ based on your energy needs and what company you choose to go with.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $16,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-25,050 |
| 3 years | $-22,335 |
| 5 years | $-19,620 |
| 7 years | $-16,904 |
| 9 years | $-14,189 |
| 11 years | $-11,474 |
| 13 years | $-8,758 |
| 15 years | $-6,043 |
| 17 years | $-3,328 |
| 19 years | $-612 |
| 21 years | $2,103 |
| 23 years | $4,818 |
| 25 years | $7,534 |
Top Solar Installers in Lafayette
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring an installer can make swapping over to solar power much easier. Some solar installers, especially local ones, can help you better understand incentives in Lafayette, optimizing your ROI.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Lafayette
Factors that Affect Solar Panel Costs in Lafayette
Even though the average cost of a solar system in Lafayette is $26,408, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,800. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Lafayette, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.95 | $16,598 | $9,114 | 16.1 years |
| 8 kW | $3.88 | $21,706 | $12,577 | 15.8 years |
| 10 kW | $3.80 | $26,600 | $16,254 | 15.5 years |
| 12 kW | $3.72 | $31,282 | $20,143 | 15.2 years |
| 14 kW | $3.65 | $35,750 | $24,245 | 14.9 years |
| 16 kW | $3.57 | $40,006 | $28,559 | 14.6 years |
| 18 kW | $3.50 | $44,050 | $33,087 | 14.3 years |
| 20 kW | $3.42 | $47,880 | $37,827 | 14.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Lafayette, LA Solar Cost FAQs
What is the average cost of installing solar panels in Lafayette?
The average cost of solar panels in Lafayette is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Lafayette?
Solar panels aren’t free in Lafayette, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Lafayette?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.