Solar Panel Cost Guide in Bessemer, AL (2024 Update)
- Bessemer Solar Installation Cost: $22,260
- 25-Year Savings: $31,945
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Bessemer
Let’s have a look at the average cost of solar panels in Bessemer.
While the national average of solar panels is $2.66 per watt, solar panels in Bessemer generally cost about 3.Since a 9.1-kW system is needed to cover the energy needs of a typical home in Bessemer, the average price of going solar will be about $22,260 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Bessemer can save around $20,000 on their electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Bessemer
| Year | Return on Investment |
|---|---|
| 1 years | $-20,476 |
| 3 years | $-16,906 |
| 5 years | $-13,337 |
| 7 years | $-9,768 |
| 9 years | $-6,199 |
| 11 years | $-2,629 |
| 13 years | $940 |
| 15 years | $4,509 |
| 17 years | $8,079 |
| 19 years | $11,648 |
| 21 years | $15,217 |
| 23 years | $18,786 |
| 25 years | $22,356 |
Top Solar Installers in Bessemer
Installing solar panels by yourself can be a challenging project, which is why using a solar installer is a good option for many homeowners. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Bessemer
Factors that Affect Solar Panel Costs in Bessemer
For many Bessemer homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Bessemer, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,490.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Bessemer average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Bessemer, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Bessemer are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.63 | $15,244 | $16,081 | 12.2 years |
| 8 kW | $3.56 | $19,935 | $21,832 | 11.9 years |
| 10 kW | $3.49 | $24,430 | $27,779 | 11.7 years |
| 12 kW | $3.42 | $28,730 | $33,921 | 11.5 years |
| 14 kW | $3.35 | $32,834 | $40,258 | 11.2 years |
| 16 kW | $3.28 | $36,743 | $46,791 | 11.0 years |
| 18 kW | $3.21 | $40,456 | $53,519 | 10.8 years |
| 20 kW | $3.14 | $43,974 | $60,443 | 10.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
EcoWatch's Bessemer, AL Solar Cost FAQs
What is the average cost of installing solar panels in Bessemer?
The average cost of solar panels in Bessemer is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Bessemer?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bessemer is currently $115,501, which means you can expect a value of about $4,736 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Bessemer is a fruitful investment.
How long do solar panels last in Bessemer?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.