Louisiana is blessed by a large number of sunny days. This makes it an ideal spot for solar panels. Louisiana experiences an average of 214 sunny hours per year. This makes it a good place for solar panels. Louisiana is compatible with most major solar brands. You can also save money and choose less expensive brands. These will still produce significant power but will be slightly more expensive. Louisiana has tax incentives and Net Metering.
Louisiana: Average price for solar panels
Louisiana's average cost for solar panels is $2.57 per Watt, which is lower that the national average of $2.66 a watt. But, it is still more expensive than California's solar panel average cost. Louisianans are more energy-efficient than most states. Plus, most homeowners in Louisiana need at least a 12.5 kW system to meet their energy needs. Louisiana's all in costs are more expensive than other states.
Louisiana offers one of the best solar incentives in America: a 50% tax credit for solar installations. This tax credit is not perfect, but makes solar panels more accessible in Louisiana. Low-income households can also benefit from the state's Home Energy Loan Program. In 2008, Louisiana created a state tax credit to solar installations. It was the largest in the country. The tax credit, which was up to 50% of the cost of the system, was due to expire 2024.
Louisiana solar panel installation tax incentives
Louisiana residents who install solar panels are eligible for the federal solar credit. The federal tax credit covers approximately 26% the cost of a system that uses solar energy. Louisiana homeowners who wish to install solar panel systems will enjoy this huge benefit. The credit expires at 2032. However, it will be reduced to 26% by 2033 and 22% by 2034. Louisiana residents with mortgages may also be eligible for this tax credit.
Louisiana's tax incentives on solar panels include the fact that there is no sales tax on solar systems. This allows homeowners to enjoy significant savings on their electric bills, without worrying about increasing property taxes.
Net metering for solar panels in Louisiana
Net Metering is a policy that permits customers to export surplus electricity from their solar panel system to power grid. This helps to reduce your electric bill. The program is a boon for the economy. It boosts demand for solar energy and creates jobs throughout the solar supply chain. The United States now has more than 230,000 solar workers thanks to strong net metering policies.
Net metering is a key factor in making rooftop solar affordable to many homeowners over recent years. Utilities in several states have tried to limit this policy, arguing that it raises rates for non-solar customers. The Louisiana Public Service Commission cut its net meters policy, making it even more difficult for solar homeowners.
Although Louisiana has a lower power rate than most other states, the cost for solar panel systems in Louisiana is still much lower than elsewhere. This does not mean solar isn’t worth the investment. Louisiana's homeowners consume 1,201 kilowatt-hours each month. This is well over the national average. Since most Louisians' electric bills aren't much more than that, solar is an excellent investment for most of them.