Solar Panel Cost Guide in Glencoe, AL (2024 Update)
- Glencoe Solar Installation Cost: $22,534
- 25-Year Savings: $35,517
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Glencoe
See how much it might cost to make the switch to solar in Glencoe.
In Glencoe, solar panels cost about 3 per watt on average.To cover the typical energy needs of the average home in Glencoe, most homeowners require a 9.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $22,534, or $32,224 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar system you choose, your solar contractor and more.With typical savings of about $21,000 on power bills over 20 years, many homeowners in Glencoe find investing in solar has a decent ROI.
You can click the button below to get connected with a vetted solar company in Glencoe that can help you get a more accurate cost estimate for your home.
Solar savings over time in Glencoe
| Year | Return on Investment |
|---|---|
| 1 years | $-20,686 |
| 3 years | $-16,991 |
| 5 years | $-13,296 |
| 7 years | $-9,601 |
| 9 years | $-5,906 |
| 11 years | $-2,210 |
| 13 years | $1,485 |
| 15 years | $5,180 |
| 17 years | $8,875 |
| 19 years | $12,570 |
| 21 years | $16,265 |
| 23 years | $19,960 |
| 25 years | $23,656 |
Top Solar Installers in Glencoe
Many homeowners choose to hire a solar installation company since figuring out how to install solar panels by yourself can be hard. The payback period on a solar system will vary depending on factors like your roof configuration and energy use, but working with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Glencoe
Factors that Affect Solar Panel Costs in Glencoe
There are many factors that can determine your total 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
The size of the solar panel system you need for your home, 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 often have a higher price tag 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 greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Glencoe homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $18,149 | 11.4 years |
| 8 kW | $3.56 | $19,935 | $24,589 | 11.2 years |
| 10 kW | $3.49 | $24,430 | $31,225 | 11.0 years |
| 12 kW | $3.42 | $28,730 | $38,056 | 10.8 years |
| 14 kW | $3.35 | $32,834 | $45,083 | 10.5 years |
| 16 kW | $3.28 | $36,743 | $52,305 | 10.3 years |
| 18 kW | $3.21 | $40,456 | $59,723 | 10.1 years |
| 20 kW | $3.14 | $43,974 | $67,336 | 9.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Well-established companies likely have a high 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 support, such as part repairs and replacements.
- Solar Panel Brands: The model of solar panel you want plays a role in which company you should opt for, since different companies offer different panels.
EcoWatch's Glencoe, AL Solar Cost FAQs
What is the average cost of installing solar panels in Glencoe?
This is a tough question to answer exactly, because the cost depends on a variety of 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 higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Glencoe?
A solar panel system isn’t free in Glencoe, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact how much my home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use 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.