Solar Panel Cost Guide in Highland Lakes, AL (Mar 2023)
- Highland Lakes Solar Installation Cost: $15,486
- 25-Year Savings: $35,663
- Payback Period: 7.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Highland Lakes
Find out what the average cost of solar panels are in Highland Lakes.
While the national average of solar panels is $2.66 per watt, solar panels in Highland Lakes generally cost about 2.45. The average Highland Lakes homeowner needs a 9.0-kilowatt system, which would cost about $15,486 with the federal tax credit, or $22,145 before the 30% tax credit is applied.
How much you pay can go higher or lower than the average in Highland Lakes based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. With average savings of about $22,000 on energy bills over 20 years, many homeowners in Highland Lakes find installing solar panels has a decent ROI.
To receive a free quote from a pre-vetted solar installation company in Highland Lakes, you can click the button below.
Solar savings over time in Highland Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-13,440 |
| 3 years | $-9,349 |
| 5 years | $-5,257 |
| 7 years | $-1,165 |
| 9 years | $2,927 |
| 11 years | $7,019 |
| 13 years | $11,111 |
| 15 years | $15,203 |
| 17 years | $19,295 |
| 19 years | $23,387 |
| 21 years | $27,479 |
| 23 years | $31,571 |
| 25 years | $35,663 |
Top Solar Installers in Highland Lakes
Trying to install solar panels on your own can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Highland Lakes
Factors that Affect Solar Panel Costs in Highland Lakes
The cost of installing a solar system in Highland Lakes can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,450 per kilowatt in Highland Lakes. The brand and type of equipment you want 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 come at a higher price 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 more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Highland Lakes homeowners decide to finance their solar panel systems to make going solar more affordable. 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Highland Lakes is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that provide a range of services for different budgets. You may notice 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 larger companies.
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 | $23,269 | 7.9 years |
| 8 kW | $2.50 | $13,994 | $31,300 | 7.7 years |
| 10 kW | $2.45 | $17,150 | $39,468 | 7.6 years |
| 12 kW | $2.40 | $20,168 | $47,773 | 7.4 years |
| 14 kW | $2.35 | $23,050 | $56,215 | 7.3 years |
| 16 kW | $2.30 | $25,794 | $64,795 | 7.1 years |
| 18 kW | $2.25 | $28,400 | $73,512 | 7.0 years |
| 20 kW | $2.21 | $30,870 | $82,366 | 6.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
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 Highland Lakes, AL Solar Cost FAQs
What is the average cost of installing solar panels in Highland Lakes?
The average cost of solar panels in Highland Lakes is about $12,250 for a 5-kW system and $24,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Highland Lakes?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will installing solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Highland Lakes is currently $355,700, which means you can look forward to a value of about $14,584 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Highland Lakes is a worthwhile investment.
How long do solar panels last in Highland Lakes?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.