Solar Panel Cost Guide in Loxley, AL (2023 Update)
- Loxley Solar Installation Cost: $14,695
- 25-Year Savings: $33,146
- Payback Period: 7.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Loxley
Let's have a look at the average cost of solar in Loxley.
Although the national average of solar panels is $2.66 per watt, solar panels in Loxley generally cost around 2.45. The average solar panel system size in Loxley is around 8.6 kilowatts, meaning a cost of about $14,698 for a solar installation, or $21,018 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 energy system could cost. The exact cost of making the switch to solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what installation company you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar company in Loxley for a quote for your home.
Solar savings over time in Loxley
| Year | Return on Investment |
|---|---|
| 1 years | $-14,536 |
| 3 years | $-14,217 |
| 5 years | $-13,898 |
| 7 years | $-13,579 |
| 9 years | $-13,260 |
| 11 years | $-12,941 |
| 13 years | $-12,622 |
| 15 years | $-12,303 |
| 17 years | $-11,984 |
| 19 years | $-11,665 |
| 21 years | $-11,346 |
| 23 years | $-11,028 |
| 25 years | $-10,709 |
Top Solar Installers in Loxley
Installing solar panels yourself can be a dangerous task, which is why using a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be valuable as well, especially if you don't quite know what kind of solar equipment you need.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Loxley:
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 Loxley
Factors that Affect Solar Panel Costs in Loxley
The cost of installing a solar system in Loxley can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,450. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Loxley, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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 | $22,798 | 8.0 years |
| 8 kW | $2.50 | $13,994 | $30,671 | 7.8 years |
| 10 kW | $2.45 | $17,150 | $38,682 | 7.7 years |
| 12 kW | $2.40 | $20,168 | $46,830 | 7.5 years |
| 14 kW | $2.35 | $23,050 | $55,115 | 7.4 years |
| 16 kW | $2.30 | $25,794 | $63,537 | 7.2 years |
| 18 kW | $2.25 | $28,400 | $72,097 | 7.1 years |
| 20 kW | $2.21 | $30,870 | $80,794 | 6.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
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 Loxley, AL Solar Cost FAQs
What is the average cost of installing solar panels in Loxley?
This is a tough question to answer exactly, 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. It will be more expensive if you want additional 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 opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Loxley?
Solar panels aren't free in Loxley, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Loxley have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.