Solar Panel Cost Guide in Foley, AL (2023 Update)
- Foley Solar Installation Cost: $20,933
- 25-Year Savings: $20,106
- Payback Period: 11.0 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Foley
Let’s take a look at the average cost of solar in Foley.
In Foley, solar panels cost about 3 per watt on average.To cover the typical energy usage of the average home in Foley, most homeowners require a 8.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $20,933, or $29,934 before the federal solar tax credit of 0 is applied.
These figures are just averages, and the cost of going solar for you will most likely look different based on your energy needs and what company you want to go with.Despite the high initial cost, the average Foley homeowner can save about $21,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Foley
| Year | Return on Investment |
|---|---|
| 1 years | $-19,292 |
| 3 years | $-16,009 |
| 5 years | $-12,725 |
| 7 years | $-9,442 |
| 9 years | $-6,159 |
| 11 years | $-2,876 |
| 13 years | $407 |
| 15 years | $3,690 |
| 17 years | $6,973 |
| 19 years | $10,256 |
| 21 years | $13,540 |
| 23 years | $16,823 |
| 25 years | $20,106 |
Top Solar Installers in Foley
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with an installer can make switching to solar power much easier. Another good thing about going with a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Foley
Factors that Affect Solar Panel Costs in Foley
There are several 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 performs the installation.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,490. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Foley homeowners opt to finance their solar panel systems to make paying for solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also fit into your budget.
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 | $17,953 | 11.5 years |
| 8 kW | $3.56 | $19,935 | $24,328 | 11.3 years |
| 10 kW | $3.49 | $24,430 | $30,899 | 11.0 years |
| 12 kW | $3.42 | $28,730 | $37,665 | 10.8 years |
| 14 kW | $3.35 | $32,834 | $44,627 | 10.6 years |
| 16 kW | $3.28 | $36,743 | $51,784 | 10.4 years |
| 18 kW | $3.21 | $40,456 | $59,136 | 10.2 years |
| 20 kW | $3.14 | $43,974 | $66,684 | 9.9 years |
How to Save on Solar Panels
The solar company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
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 Foley, AL Solar Cost FAQs
What is the average cost of installing solar panels in Foley?
This is a tough 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Foley?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure 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 financial benefits from going solar.
Is it worth going solar in Foley?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Foley?
On average, the lifespan of solar panels is 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 level 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.