Solar Panel Cost Guide in Laurel, MT (2024 Update)
- Laurel Solar Installation Cost: $40,976
- 25-Year Savings: $32,133
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Laurel
Find out how much it might cost to switch to solar power in Laurel.
In Laurel, solar panels cost about 3 per watt on average.To account for the typical energy usage of the average home in Laurel, most homeowners require a 16.9-kilowatt system. Using the figure above, a solar installation costs about $40,976, or $58,596 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.Many homeowners find adopting solar power is a sound investment. The average homeowner in Laurel can save about $15,000 on their power bills over 20 years.
To get a free quote from a highly rated solar installation company in Laurel, you can click the button below.
Solar savings over time in Laurel
| Year | Return on Investment |
|---|---|
| 1 years | $-39,704 |
| 3 years | $-37,158 |
| 5 years | $-34,613 |
| 7 years | $-32,068 |
| 9 years | $-29,523 |
| 11 years | $-26,978 |
| 13 years | $-24,433 |
| 15 years | $-21,888 |
| 17 years | $-19,342 |
| 19 years | $-16,797 |
| 21 years | $-14,252 |
| 23 years | $-11,707 |
| 25 years | $-9,162 |
Top Solar Installers in Laurel
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make converting to solar power much easier. Plus, if you’re not certain what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our recommendations for providers near you:
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 Laurel
Factors that Affect Solar Panel Costs in Laurel
For many Laurel homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Laurel, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Laurel, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Laurel to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.Though solar loans make going solar more accessible for Laurel homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Laurel, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.The company’s size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower 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 | $3.61 | $15,157 | $6,940 | 17.1 years |
| 8 kW | $3.54 | $19,821 | $9,641 | 16.8 years |
| 10 kW | $3.47 | $24,290 | $12,538 | 16.5 years |
| 12 kW | $3.40 | $28,565 | $15,628 | 16.2 years |
| 14 kW | $3.33 | $32,646 | $18,913 | 15.8 years |
| 16 kW | $3.26 | $36,532 | $22,392 | 15.5 years |
| 18 kW | $3.19 | $40,224 | $26,065 | 15.2 years |
| 20 kW | $3.12 | $43,722 | $29,933 | 14.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- 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 support, such as part repairs and replacements.
- Solar Panel Brands: Different companies have various brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: Before you sign a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: Make sure you’re on the same page 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 repairing your electrical system or roof.
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 Laurel, MT Solar Cost FAQs
What is the average cost of installing solar panels in Laurel?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,350 for a 5-kW system and $34,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Laurel?
Solar panels aren’t free in Laurel, 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.
Does Laurel have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Laurel?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.