Solar Panel Cost Guide in Oxford, AL (Mar 2023)
- Oxford Solar Installation Cost: $15,692
- 25-Year Savings: $35,502
- Payback Period: 7.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Oxford
Find out what the average cost of solar panel installation is in Oxford.
While the national average of solar panels is $2.66 per watt, solar panels in Oxford generally cost around 2.45. To cover the typical energy usage of the average home in Oxford, most homeowners require a 9.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,692, or $22,440 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with. Despite the significant upfront cost, the average Oxford homeowner can save about $21,000 on their power bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Oxford
| Year | Return on Investment |
|---|---|
| 1 years | $-13,644 |
| 3 years | $-9,549 |
| 5 years | $-5,453 |
| 7 years | $-1,358 |
| 9 years | $2,738 |
| 11 years | $6,833 |
| 13 years | $10,929 |
| 15 years | $15,024 |
| 17 years | $19,120 |
| 19 years | $23,215 |
| 21 years | $27,310 |
| 23 years | $31,406 |
| 25 years | $35,502 |
Top Solar Installers in Oxford
Although you can install solar panels by yourself, it involves extra labor and knowledge. That's one of the reasons most people choose to go with a solar panel installer. In addition, if you'd like to maximize your investment in solar power, using a solar company can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some 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 install a solar energy system comes down to 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 several factors that considerably 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 installing solar panels 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 $2,450 per kilowatt in Oxford. There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Oxford to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time because of interest. Even though solar loans make going solar more accessible for Oxford 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 put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Oxford, and each can charge varying amounts for labor and equipment. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $22,878 | 8.0 years |
| 8 kW | $2.50 | $13,994 | $30,778 | 7.8 years |
| 10 kW | $2.45 | $17,150 | $38,815 | 7.7 years |
| 12 kW | $2.40 | $20,168 | $46,990 | 7.5 years |
| 14 kW | $2.35 | $23,050 | $55,302 | 7.4 years |
| 16 kW | $2.30 | $25,794 | $63,751 | 7.2 years |
| 18 kW | $2.25 | $28,400 | $72,337 | 7.0 years |
| 20 kW | $2.21 | $30,870 | $81,061 | 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. Since picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- 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 large role in the company you go with.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project timeline incentives and warranties.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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
What is the average cost of installing solar panels in Oxford?
The average cost of solar panels in Oxford 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 model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,119.31 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels 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 usually 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.