Solar Panel Cost Guide in Lincoln, AL (Jan 2023)
- Lincoln Solar Installation Cost: $15,589
- 25-Year Savings: $34,820
- Payback Period: 7.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Top Solar Installers in Lincoln
When going solar, many homeowners decide to go with a solar company since installing a solar system yourself can be a time-consuming project. Some solar installers, particularly local ones, can help you take advantage of incentives in Lincoln, therefore optimizing your ROI.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Lincoln
Factors that Affect Solar Panel Costs in Lincoln
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Lincoln: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
One of the most important 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,450 per kilowatt in Lincoln. The kind of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than 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
If paying for solar panels out of pocket is too expensive, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your all-in costs, so it's important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Lincoln is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services for different budgets. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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||$22,556||8.0 years|
|8 kW||$2.50||$13,994||$30,349||7.9 years|
|10 kW||$2.45||$17,150||$38,279||7.7 years|
|12 kW||$2.40||$20,168||$46,346||7.6 years|
|14 kW||$2.35||$23,050||$54,551||7.4 years|
|16 kW||$2.30||$25,794||$62,892||7.3 years|
|18 kW||$2.25||$28,400||$71,371||7.1 years|
|20 kW||$2.21||$30,870||$79,988||7.0 years|
How to Save on Solar Panels
There are many companies available in Lincoln, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: If you're concerned about the durability of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Companies that have been operating for many years 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 service, such as part repairs and replacements.
EcoWatch's Lincoln, AL Solar Cost FAQs
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.