Solar Panel Cost Guide in Alexander City, AL (2023 Update)
- Alexander City Solar Installation Cost: $15,246
- 25-Year Savings: $32,395
- Payback Period: 8.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Alexander City
Here's how much it might cost to go solar in Alexander City.
While the national average of solar panels is $2.66 per watt, solar panels in Alexander City typically cost about 2.45. The average Alexander City homeowner needs a 8.9-kilowatt system, which would cost about $15,246 with the federal tax credit, or $21,802 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. Even with the large initial cost, the average Alexander City homeowner can save around $20,000 on their power bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a top solar company in Alexander City, you can click the button below.
Solar savings over time in Alexander City
| Year | Return on Investment |
|---|---|
| 1 years | $-13,341 |
| 3 years | $-9,529 |
| 5 years | $-5,718 |
| 7 years | $-1,907 |
| 9 years | $1,904 |
| 11 years | $5,716 |
| 13 years | $9,527 |
| 15 years | $13,338 |
| 17 years | $17,150 |
| 19 years | $20,961 |
| 21 years | $24,772 |
| 23 years | $28,583 |
| 25 years | $32,395 |
Top Solar Installers in Alexander City
Although you can install solar panels yourself, it takes extra effort and knowledge. Because of that, the majority of homeowners choose to hire a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be right for your family.
If you're on the hunt for a solar installer in Alexander City, we've organized a list of our top suggestions here:
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 Alexander City
Factors that Affect Solar Panel Costs in Alexander City
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Alexander City: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Alexander City, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by around $2,450 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Alexander City provide solar loans, which reduce your upfront costs of installing solar. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can impact the cost. Alexander City's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.55 | $10,702 | $21,437 | 8.3 years |
| 8 kW | $2.50 | $13,994 | $28,857 | 8.2 years |
| 10 kW | $2.45 | $17,150 | $36,414 | 8.0 years |
| 12 kW | $2.40 | $20,168 | $44,108 | 7.8 years |
| 14 kW | $2.35 | $23,050 | $51,940 | 7.7 years |
| 16 kW | $2.30 | $25,794 | $59,909 | 7.5 years |
| 18 kW | $2.25 | $28,400 | $68,015 | 7.4 years |
| 20 kW | $2.21 | $30,870 | $76,258 | 7.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- 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 installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: If you're worried about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Alexander City, AL Solar Cost FAQs
How much does it cost to install solar panels in Alexander City?
The average cost of solar panels in Alexander City is about $12,250 for a 5-kW system and $24,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Alexander City is currently $104,782, so you could be looking at a value of about $4,296 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Alexander City is a worthwhile investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.