Solar Panel Cost Louisiana

Your solar panels options in louisiana as you can see buying a solar panel outright will give you the best return over the average lifetime of a solar array i e.

Solar panel cost louisiana.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. As of september 2020 the average solar panel cost in louisiana is 2 96 w given a solar panel system size of 5 kilowatts kw an average solar installation in louisiana ranges in cost from 12 580 to 17 020 with the average gross price for solar in louisiana coming in at 14 800 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. After that you ll save over 800 per year in electricity costs from your paid for solar panels but by the end of the system s 25 year warranty you still won t have broken even.

Louisiana s average cost of a solar panel installation ranges from 12 368 to 16 732. That means a solar investment like this in louisiana will cost rather than save you money over the long term. The solar incentives in louisiana will have a significant impact on your total solar costs but you can t forget about the federal solar tax credit also known as the itc. Louisiana is one of the top five natural gas producing states in the country.

Thanks to the itc you can reduce the cost of your solar panels system by 26 percent through a credit on your federal income taxes. This is lower than the average price of residential solar power systems across the united states which is currently 2 60 per watt. 25 years but taking out a loan as well as leasing a solar provider s panels makes sense too and you will find whatever you decide to do you won t regret it. Solar panel cost in louisiana.

The average cost for an installed residential solar system in louisiana is currently 10 558 after claiming the 26 federal solar tax credit. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. This term tells us as at what time you will recover your. On a cost per watt w basis a solar panel installation in louisiana ranges in price from 2 47 to 3 35.

Solar panel cost data louisiana 2020 updated. Another calculation that potential solar buyers have to consider is the solar payback period.