Benefits of Solar Energy
Solar energy offers numerous advantages that will enhance your home for years to come.
- Better energy independence: Solar systems with battery storage work through power outages and emergencies, and you won't have to rely on your power company for your safety and comfort.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, decreasing your monthly electricity costs. You can eliminate your bills completely if you go off-grid.
- Reduced carbon footprint: Utilizing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to New Orleans Homeowners?
Louisiana homeowners who go solar could qualify for rebates, special financing, reimbursements and tax credits. Here are just a few of the region's incentive programs.
Incentive Type: Property Tax Incentive
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in New Orleans
The price and efficacy of solar panels often rely on which company mounted them. Consider all of these factors in your contractor search.
Licensing and Training
In Louisiana, contractors can earn a solar energy endorsement, or "classification," on their commercial contracting license. To do this, they need to obtain electrical, mechanical, or building endorsements first, then take an exam or submit a copy of their certification with NABCEP. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in New Orleans
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will increase your overall costs. However, they might make your solar system more efficient and convenient to use. Not every solar company provides these additional features, so look for a provider that installs them if it's important for you.
If you're a resident of New Orleans and want a five-kilowatt solar energy system, you could expect to pay about $19,000 for parts and installation. See more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in New Orleans
Choosing the right financing option will impact your overall solar system cost and potential savings. Common payment options include power purchase agreements, loans, cash payments, and leases. Though it involves a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases let you use your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each business you're considering about the payment options it offers. A team member can help you determine the most suitable option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in New Orleans.
You are eligible for a 26% federal tax credit for new solar energy devices until the year 2032. Local and state governments and utility companies might also offer rebates, discounts, and specialized financing options that could save you more.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in New Orleans
How much energy and money could I save per year by switching to solar?
Is solar energy readily available in New Orleans?
Should I expect a property value increase after switching to solar energy?
Could I still use solar power if I live in a dark, wooded, or rainy area?
How long will an average solar system last?
How long does it take to pay back a solar loan in New Orleans?
How are traditional solar loans and PPAs different?
You might look into a PPA if you don’t want to be responsible for maintaining your panels and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any cost-saving solar incentives. Many solar experts don’t recommend PPAs. Our guide covers other financing options above.
Should I get quotes from multiple New Orleans solar companies?
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