Solar Panel Cost Guide in Loxley, AL (Mar 2023)
- Loxley Solar Installation Cost: $14,698
- 25-Year Savings: $33,143
- Payback Period: 7.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Loxley
Let's take a look at the average cost of solar in Loxley.
The average cost of solar panels in Loxley is 2.45 per watt. Using this figure, a typical 8.6-kW system would cost about $14,698 before the 30% federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Loxley based on several factors, such as the model of solar panels you choose and the solar company you hire. With typical savings of about $21,000 on electricity bills over 20 years, many homeowners in Loxley find installing solar panels has a decent ROI.
Click the button below to get connected to a top solar installer in your area for a personalized quote.
Solar savings over time in Loxley
| Year | Return on Investment |
|---|---|
| 1 years | $-12,784 |
| 3 years | $-8,957 |
| 5 years | $-5,129 |
| 7 years | $-1,302 |
| 9 years | $2,525 |
| 11 years | $6,352 |
| 13 years | $10,180 |
| 15 years | $14,007 |
| 17 years | $17,834 |
| 19 years | $21,662 |
| 21 years | $25,489 |
| 23 years | $29,316 |
| 25 years | $33,143 |
Top Solar Installers in Loxley
Although you can install solar panels on your own, it takes extra labor and know-how. For that reason, almost all homeowners choose to hire a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you decide which one will be right for your home.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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
Though the average cost of a solar system in Loxley is $14,698, your actual cost may differ. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. There are a lot of different solar panel brands and the one you pick also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Loxley provide solar loans, which reduce your upfront costs of installing a solar system. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, 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 renewable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Loxley, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $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 solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The model of solar panel you need to install plays a role in which installer you should choose, since different companies have access to different panels.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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
How much does it cost to install solar panels in Loxley?
The average cost of solar panels in Loxley is about $12,250 for a 5-kW system and $24,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Loxley, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.