Solar Panel Cost Guide in Millbrook, AL (Mar 2023)
- Millbrook Solar Installation Cost: $15,161
- 25-Year Savings: $35,741
- Payback Period: 7.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Millbrook
Let's take a look at the average cost of solar panels in Millbrook.
The average cost of a solar system in Millbrook is 2.45 per watt. The average Millbrook homeowner needs a 8.8-kilowatt system, which would cost about $15,161 with the federal tax credit, or $21,680 before the 30% tax credit is applied.
The actual price you pay can be higher or lower than the average in Millbrook based on several factors, such as the kind of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $22,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Millbrook
| Year | Return on Investment |
|---|---|
| 1 years | $-13,125 |
| 3 years | $-9,052 |
| 5 years | $-4,980 |
| 7 years | $-908 |
| 9 years | $3,164 |
| 11 years | $7,236 |
| 13 years | $11,308 |
| 15 years | $15,380 |
| 17 years | $19,452 |
| 19 years | $23,524 |
| 21 years | $27,596 |
| 23 years | $31,669 |
| 25 years | $35,741 |
Top Solar Installers in Millbrook
Installing solar panels yourself can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. Another perk of using a solar company is that they can help you optimize your investment by lowering your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Millbrook:
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 Millbrook
Factors that Affect Solar Panel Costs in Millbrook
The cost of installing a solar system in Millbrook can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,450 per kilowatt in Millbrook. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Millbrook average.
Solar Financing Terms
Many homeowners find the average cost of solar in Millbrook to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. Although solar loans make going solar more accessible for Millbrook homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Millbrook, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you want and also fits within your budget.
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 | $23,831 | 7.7 years |
| 8 kW | $2.50 | $13,994 | $32,049 | 7.6 years |
| 10 kW | $2.45 | $17,150 | $40,405 | 7.4 years |
| 12 kW | $2.40 | $20,168 | $48,897 | 7.3 years |
| 14 kW | $2.35 | $23,050 | $57,527 | 7.2 years |
| 16 kW | $2.30 | $25,794 | $66,294 | 7.0 years |
| 18 kW | $2.25 | $28,400 | $75,198 | 6.9 years |
| 20 kW | $2.21 | $30,870 | $84,239 | 6.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose considerably influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
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 Millbrook, AL Solar Cost FAQs
How much does it cost to install solar panels in Millbrook?
The average cost of solar panels in Millbrook 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 such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Millbrook is currently $155,388, which means you can look forward to a value of about $6,371 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Millbrook is a rewarding investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.