Solar Panel Cost Guide in Monticello, LA (2024 Update)
- Monticello Solar Installation Cost: $26,551
- 25-Year Savings: $24,324
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Monticello
Here’s how much it might cost to install solar panels in Monticello.
In Monticello, solar panels cost about 4 per watt on average.The average Monticello homeowner needs a 10.0-kilowatt system, which would cost about $26,551 with the federal tax credit, or $37,968 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Monticello homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $16,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Monticello
| Year | Return on Investment |
|---|---|
| 1 years | $-25,242 |
| 3 years | $-22,623 |
| 5 years | $-20,005 |
| 7 years | $-17,386 |
| 9 years | $-14,768 |
| 11 years | $-12,149 |
| 13 years | $-9,531 |
| 15 years | $-6,912 |
| 17 years | $-4,294 |
| 19 years | $-1,675 |
| 21 years | $943 |
| 23 years | $3,562 |
| 25 years | $6,180 |
Top Solar Installers in Monticello
Many homeowners choose to use a solar installation company since installing solar panels yourself can be challenging. Another good thing about choosing a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Monticello
Factors that Affect Solar Panel Costs in Monticello
There are many criteria that can affect 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
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,800.The brand of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Monticello to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest.However, the interest on solar loans also increases your all-in costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can affect your pricing. Monticello’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $8,817 | 16.3 years |
| 8 kW | $3.88 | $21,706 | $12,181 | 16.0 years |
| 10 kW | $3.80 | $26,600 | $15,759 | 15.7 years |
| 12 kW | $3.72 | $31,282 | $19,549 | 15.4 years |
| 14 kW | $3.65 | $35,750 | $23,552 | 15.1 years |
| 16 kW | $3.57 | $40,006 | $27,768 | 14.8 years |
| 18 kW | $3.50 | $44,050 | $32,196 | 14.4 years |
| 20 kW | $3.42 | $47,880 | $36,838 | 14.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The type of solar panel you need plays a part in which company you should go with, since different companies have access to different panels.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: If you’re concerned about the endurance of your solar system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Monticello, LA Solar Cost FAQs
What is the average cost of installing solar panels in Monticello?
This is a difficult question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Monticello, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Monticello?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.