Solar Panel Cost Guide in Hamilton, AL (2023 Update)
- Hamilton Solar Installation Cost: $15,761
- 25-Year Savings: $35,925
- Payback Period: 7.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hamilton
Let's take a look at the average cost of solar panels in Hamilton.
In Hamilton, solar panels cost about 2.45 per watt on average. The average solar panel system size in Hamilton is around 9.2 kilowatts, meaning a cost of about $15,761 for a solar installation, or $22,538 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. For most homeowners, the upfront investment in solar panels is worth paying. On average Hamilton homeowners see about $21,000 in savings on energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hamilton
| Year | Return on Investment |
|---|---|
| 1 years | $-13,693 |
| 3 years | $-9,559 |
| 5 years | $-5,424 |
| 7 years | $-1,289 |
| 9 years | $2,846 |
| 11 years | $6,981 |
| 13 years | $11,116 |
| 15 years | $15,251 |
| 17 years | $19,386 |
| 19 years | $23,521 |
| 21 years | $27,655 |
| 23 years | $31,790 |
| 25 years | $35,925 |
Top Solar Installers in Hamilton
Many homeowners opt for a solar panel company since trying to install solar panels by yourself can be a labor-intensive endeavor. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't sure which solar panel installer to go with, here are our recommendations for providers in Hamilton:
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 Hamilton
Factors that Affect Solar Panel Costs in Hamilton
For many Hamilton homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Hamilton, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The model of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions 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 researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Hamilton, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Hamilton is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $23,026 | 7.9 years |
| 8 kW | $2.50 | $13,994 | $30,975 | 7.8 years |
| 10 kW | $2.45 | $17,150 | $39,062 | 7.6 years |
| 12 kW | $2.40 | $20,168 | $47,286 | 7.5 years |
| 14 kW | $2.35 | $23,050 | $55,648 | 7.3 years |
| 16 kW | $2.30 | $25,794 | $64,146 | 7.2 years |
| 18 kW | $2.25 | $28,400 | $72,782 | 7.0 years |
| 20 kW | $2.21 | $30,870 | $81,555 | 6.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose considerably impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
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 Hamilton, AL Solar Cost FAQs
What is the average cost of installing solar panels in Hamilton?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $12,250 for a 5-kW system and $24,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Does Hamilton have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.