Solar Panel Cost Guide in Lanett, AL (2023 Update)
- Lanett Solar Installation Cost: $15,269
- 25-Year Savings: $33,839
- Payback Period: 7.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lanett
Find out what the average cost of solar panels are in Lanett.
In Lanett, solar panels cost about 2.45 per watt on average. Since a 8.9-kW system is needed to cover the energy consumption of a typical home in Lanett, the average price of going solar will be about $15,263 after claiming the federal solar tax credit of 30%.
The true cost of your system can go higher or lower than the average in Lanett based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. But, after you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $21,000 over 20 years on electricity bills.
To get a free quote from a highly rated solar company in Lanett, you can click the button below.
Solar savings over time in Lanett
| Year | Return on Investment |
|---|---|
| 1 years | $-15,105 |
| 3 years | $-14,778 |
| 5 years | $-14,451 |
| 7 years | $-14,123 |
| 9 years | $-13,796 |
| 11 years | $-13,468 |
| 13 years | $-13,141 |
| 15 years | $-12,814 |
| 17 years | $-12,486 |
| 19 years | $-12,159 |
| 21 years | $-11,832 |
| 23 years | $-11,504 |
| 25 years | $-11,177 |
Top Solar Installers in Lanett
When making the switch to solar, many homeowners opt to use a solar company since handling can be a challenging project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar panels. 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 Lanett
Factors that Affect Solar Panel Costs in Lanett
For many Lanett homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Lanett, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Lanett average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. It's wise to factor 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
The solar installer you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating in Lanett, and each can charge varying amounts for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a 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 | $2.55 | $10,702 | $22,393 | 8.1 years |
| 8 kW | $2.50 | $13,994 | $30,132 | 7.9 years |
| 10 kW | $2.45 | $17,150 | $38,008 | 7.8 years |
| 12 kW | $2.40 | $20,168 | $46,021 | 7.6 years |
| 14 kW | $2.35 | $23,050 | $54,171 | 7.5 years |
| 16 kW | $2.30 | $25,794 | $62,459 | 7.3 years |
| 18 kW | $2.25 | $28,400 | $70,883 | 7.2 years |
| 20 kW | $2.21 | $30,870 | $79,445 | 7.0 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: Before you sign a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options 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 Lanett, AL Solar Cost FAQs
How much does it cost to install solar panels in Lanett?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $12,250 for a 5-kW system and $24,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, 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 Lanett?
You can't get solar panels for free in Lanett. 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.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,103.15 per year.
How long do solar panels last in Lanett?
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 larger 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.