Solar Panel Cost Guide in Loxley, AL (2024 Update)
- Loxley Solar Installation Cost: $20,933
- 25-Year Savings: $33,146
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Loxley
Let’s take a look at the average cost of solar panels in Loxley.
While the national average of solar panels is $2.66 per watt, solar panels in Loxley typically cost about 3.To cover the typical energy usage of the average home in Loxley, most homeowners require a 8.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $20,933, or $29,934 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and your own solar costs may look different based on your specific situation and what company you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $21,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Loxley that can help you get a more accurate cost estimate for your home.
Solar savings over time in Loxley
| Year | Return on Investment |
|---|---|
| 1 years | $-19,189 |
| 3 years | $-15,700 |
| 5 years | $-12,210 |
| 7 years | $-8,721 |
| 9 years | $-5,232 |
| 11 years | $-1,743 |
| 13 years | $1,746 |
| 15 years | $5,235 |
| 17 years | $8,724 |
| 19 years | $12,214 |
| 21 years | $15,703 |
| 23 years | $19,192 |
| 25 years | $22,681 |
Top Solar Installers in Loxley
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar panel installer can make your swap to solar power much easier. Another great thing about using a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
For many Loxley homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Loxley, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Loxley to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can play a role in determining how much it costs. Loxley’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, 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 | $3.63 | $15,244 | $18,255 | 11.4 years |
| 8 kW | $3.56 | $19,935 | $24,731 | 11.2 years |
| 10 kW | $3.49 | $24,430 | $31,402 | 10.9 years |
| 12 kW | $3.42 | $28,730 | $38,269 | 10.7 years |
| 14 kW | $3.35 | $32,834 | $45,331 | 10.5 years |
| 16 kW | $3.28 | $36,743 | $52,588 | 10.3 years |
| 18 kW | $3.21 | $40,456 | $60,041 | 10.1 years |
| 20 kW | $3.14 | $43,974 | $67,690 | 9.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Loxley?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels completely eradicate my electricity bills?
It is possible to erase 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.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.