Solar Panel Cost Guide in Monroe, LA (2024 Update)

  • Monroe Solar Installation Cost: $27,174
  • 25-Year Savings: $21,814
  • Payback Period: 16.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Monroe

Let’s have a look at the average cost of solar in Monroe.

The average cost of a solar system in Monroe is 4 per watt.The average solar panel system size in Monroe is around 10.2 kilowatts, meaning a cost of about $27,174 for a solar installation, or $38,859 before the 0 federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average energy use of Monroe homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $15,000 on utility bills over 20 years, many homeowners in Monroe find investing in solar has a decent ROI.

To calculate your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Monroe

Year Return on Investment
1 years $-25,865
3 years $-23,247
5 years $-20,628
7 years $-18,009
9 years $-15,391
11 years $-12,772
13 years $-10,154
15 years $-7,535
17 years $-4,917
19 years $-2,298
21 years $320
23 years $2,939
25 years $5,557

Top Solar Installers in Monroe

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make swapping over to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you choose which one will be right for your home.

You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Monroe:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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 Monroe

Factors that Affect Solar Panel Costs in Monroe

There are many factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment

When it comes to estimating the price of a solar energy system in Monroe, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $3,800 for each additional kilowatt you need.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 limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Monroe homeowners decide to finance their solar panel systems to make going solar more affordable.While solar loans make going solar more accessible for Monroe homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar panel installation company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.

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 $7,007 17.6 years
8 kW $3.88 $21,706 $9,768 17.2 years
10 kW $3.80 $26,600 $12,742 16.9 years
12 kW $3.72 $31,282 $15,929 16.6 years
14 kW $3.65 $35,750 $19,329 16.2 years
16 kW $3.57 $40,006 $22,941 15.9 years
18 kW $3.50 $44,050 $26,767 15.6 years
20 kW $3.42 $47,880 $30,805 15.2 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, 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:

  • Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
  • Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
  • Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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 Monroe, LA Solar Cost FAQs

What is the average cost of installing solar panels in Monroe?

This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Monroe?

Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.

Is going solar worth it?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.

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.

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