Solar Panel Cost Guide in Florence, AL (2024 Update)
- Florence Solar Installation Cost: $22,752
- 25-Year Savings: $8,501
- Payback Period: 23.2 Years
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Average Cost of Solar Panels in Florence
Let’s take a look at the average cost of solar panels in Florence.
In Florence, solar panels cost about 3 per watt on average.To cover the typical energy needs of the average home in Florence, most homeowners require a 9.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $22,752, or $32,535 before the federal solar tax credit of 0 is applied.
These figures are only averages, and the cost of going solar for you will most likely look different based on your energy needs and what company you go with.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Florence can save around $11,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-21,322 |
| 3 years | $-18,462 |
| 5 years | $-15,603 |
| 7 years | $-12,743 |
| 9 years | $-9,883 |
| 11 years | $-7,024 |
| 13 years | $-4,164 |
| 15 years | $-1,304 |
| 17 years | $1,555 |
| 19 years | $4,415 |
| 21 years | $7,275 |
| 23 years | $10,134 |
| 25 years | $12,994 |
Top Solar Installers in Florence
Although it's possible to install solar panels by yourself, it requires extra energy and handiness. Because of that, most people choose to hire a solar panel installer. The payback period on a solar system will vary depending on factors like your location and energy consumption, but going with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you're on the hunt for a solar company in Florence, the EcoWatch team has compiled 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 Florence
Factors that Affect Solar Panel Costs in Florence
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $3,490 per kilowatt in Florence.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Florence, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $3.63 | $15,244 | $523 | 24.2 years |
| 8 kW | $3.56 | $19,935 | $1,088 | 23.7 years |
| 10 kW | $3.49 | $24,430 | $1,848 | 23.2 years |
| 12 kW | $3.42 | $28,730 | $2,804 | 22.8 years |
| 14 kW | $3.35 | $32,834 | $3,956 | 22.3 years |
| 16 kW | $3.28 | $36,743 | $5,302 | 21.8 years |
| 18 kW | $3.21 | $40,456 | $6,845 | 21.4 years |
| 20 kW | $3.14 | $43,974 | $8,582 | 20.9 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 choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: If you care about the durability of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
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 Florence, AL Solar Cost FAQs
How much does it cost to install solar panels in Florence?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,450 for a 5-kW system and $34,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Florence?
You can’t get solar panels for free in Florence. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Florence, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.