Solar Panel Cost Guide in Oxford, AL (2024 Update)
- Oxford Solar Installation Cost: $22,347
- 25-Year Savings: $23,843
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Oxford
See how much it might cost to make the switch to solar in Oxford.
While the national average of solar panels is $2.66 per watt, solar panels in Oxford generally cost around 3.Using this figure, a typical 9.1-kW system would cost about $22,347 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Oxford based on several factors, such as the kind 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 Oxford find installing solar panels has a decent ROI.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Oxford
| Year | Return on Investment |
|---|---|
| 1 years | $-20,499 |
| 3 years | $-16,804 |
| 5 years | $-13,109 |
| 7 years | $-9,414 |
| 9 years | $-5,719 |
| 11 years | $-2,024 |
| 13 years | $1,672 |
| 15 years | $5,367 |
| 17 years | $9,062 |
| 19 years | $12,757 |
| 21 years | $16,452 |
| 23 years | $20,147 |
| 25 years | $23,843 |
Top Solar Installers in Oxford
Trying to put up solar panels yourself can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. In addition, if you’d like to maximize your investment in solar energy, going with a solar company can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our recommendations for providers near you:
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 Oxford
Factors that Affect Solar Panel Costs in Oxford
For many Oxford homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Oxford, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $3,490 per kilowatt in Oxford.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Oxford average.
Solar Financing Terms
Most solar installers in Oxford provide solar loans, which reduce the initial cost of installing solar panels.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 lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $18,335 | 11.3 years |
| 8 kW | $3.56 | $19,935 | $24,837 | 11.1 years |
| 10 kW | $3.49 | $24,430 | $31,535 | 10.9 years |
| 12 kW | $3.42 | $28,730 | $38,429 | 10.7 years |
| 14 kW | $3.35 | $32,834 | $45,518 | 10.5 years |
| 16 kW | $3.28 | $36,743 | $52,802 | 10.3 years |
| 18 kW | $3.21 | $40,456 | $60,282 | 10.0 years |
| 20 kW | $3.14 | $43,974 | $67,957 | 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 selecting a company can be a challenge, we have some tips to help you, such as:
- 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.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- 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 your solar system’s energy production.
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 Oxford, AL Solar Cost FAQs
How much does it cost to install solar panels in Oxford?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,450 for a 5-kW system and $34,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Oxford?
Solar panels aren’t free in Oxford, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase the value of your home?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.