Solar Panel Cost Guide in Lanett, AL (2024 Update)
- Lanett Solar Installation Cost: $21,751
- 25-Year Savings: $33,839
- Payback Period: 11.1 Years
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Average Cost of Solar Panels in Lanett
Find out what the average cost of solar panel installation is in Lanett.
While the national average of solar panels is $2.66 per watt, solar panels in Lanett generally cost around 3.The average solar panel system size in Lanett is around 8.9 kilowatts, meaning a cost of about $21,751 for a solar installation, or $31,104 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Lanett homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the significant initial cost, the average Lanett homeowner can save around $21,000 on their electricity bills over 20 years, which is one of the positives of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Lanett
| Year | Return on Investment |
|---|---|
| 1 years | $-19,903 |
| 3 years | $-16,208 |
| 5 years | $-12,513 |
| 7 years | $-8,818 |
| 9 years | $-5,122 |
| 11 years | $-1,427 |
| 13 years | $2,268 |
| 15 years | $5,963 |
| 17 years | $9,658 |
| 19 years | $13,353 |
| 21 years | $17,049 |
| 23 years | $20,744 |
| 25 years | $24,439 |
Top Solar Installers in Lanett
Although you can install solar panels yourself, it requires extra labor and knowledge. Because of that, most homeowners choose to go with a solar panel installer. Some solar companies, particularly local ones, can help you better understand incentives in Lanett, thereby optimizing your ROI.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 adopt solar energy 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 a few factors that greatly 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. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to think 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 looking for a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Lanett offer solar loans, which reduce the initial cost of installing solar panels.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $17,850 | 11.5 years |
| 8 kW | $3.56 | $19,935 | $24,191 | 11.3 years |
| 10 kW | $3.49 | $24,430 | $30,728 | 11.1 years |
| 12 kW | $3.42 | $28,730 | $37,459 | 10.9 years |
| 14 kW | $3.35 | $32,834 | $44,387 | 10.6 years |
| 16 kW | $3.28 | $36,743 | $51,510 | 10.4 years |
| 18 kW | $3.21 | $40,456 | $58,828 | 10.2 years |
| 20 kW | $3.14 | $43,974 | $66,341 | 10.0 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your overall 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 keep in mind, including:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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
What is the average cost of installing solar panels in Lanett?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your home value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
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 amount 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.