Solar Panel Cost Louisiana

Solar panel cost in louisiana.

Solar panel cost louisiana. 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. 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. 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. On a cost per watt w basis a solar panel installation in louisiana ranges in price from 2 47 to 3 35.

That means a solar investment like this in louisiana will cost rather than save you money over the long term. 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. This is 2 38 per watt. Solar panel cost data louisiana 2020 updated.

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 s average cost of a solar panel installation ranges from 12 368 to 16 732. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. This is lower than the average price of residential solar power systems across the united states which is currently 2 60 per watt.

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. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. As of sep 2020 the average cost of solar panels in louisiana is 2 38 per watt making a typical 6000 watt 6 kw solar system 10 558 after claiming the 26 federal solar tax credit now available. Another calculation that potential solar buyers have to consider is the solar payback period.

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. Louisiana is first in the country for energy consumption per capita largely because of the state s industrial sector it is also the state with the least expensive average price of electricity coming in at just under 0 097 per kwh the majority of this energy comes from natural gas.