Solar Panel Cost Guide in Rainbow City, AL (2024 Update)
- Rainbow City Solar Installation Cost: $22,590
- 25-Year Savings: $35,469
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Rainbow City
See how much it might cost to switch to solar power in Rainbow City.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Rainbow City, the typical cost of a solar system is 3 per watt.The average solar panel system size in Rainbow City is around 9.2 kilowatts, meaning a cost of about $22,590 for a solar installation, or $32,304 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Rainbow City homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Rainbow City see about $21,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Rainbow City that can help you get a more accurate cost estimate for your home.
Solar savings over time in Rainbow City
| Year | Return on Investment |
|---|---|
| 1 years | $-20,743 |
| 3 years | $-17,047 |
| 5 years | $-13,352 |
| 7 years | $-9,657 |
| 9 years | $-5,962 |
| 11 years | $-2,267 |
| 13 years | $1,428 |
| 15 years | $5,124 |
| 17 years | $8,819 |
| 19 years | $12,514 |
| 21 years | $16,209 |
| 23 years | $19,904 |
| 25 years | $23,599 |
Top Solar Installers in Rainbow City
When switching to solar energy, many homeowners decide to use a solar installer since DIY solar panel installation can be a challenging project. Some solar installers, especially local ones, can help you make the most of incentives in Rainbow City, optimizing your ROI.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Rainbow City
Factors that Affect Solar Panel Costs in Rainbow City
For many Rainbow City homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Rainbow City, with typical prices between $20,000 to $40,000. There are several factors that significantly 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 gauge the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Rainbow City, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Rainbow City homeowners choose to finance their solar panel systems to make going solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Rainbow City, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Rainbow City have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $18,060 | 11.4 years |
| 8 kW | $3.56 | $19,935 | $24,471 | 11.2 years |
| 10 kW | $3.49 | $24,430 | $31,078 | 11.0 years |
| 12 kW | $3.42 | $28,730 | $37,880 | 10.8 years |
| 14 kW | $3.35 | $32,834 | $44,877 | 10.6 years |
| 16 kW | $3.28 | $36,743 | $52,070 | 10.3 years |
| 18 kW | $3.21 | $40,456 | $59,458 | 10.1 years |
| 20 kW | $3.14 | $43,974 | $67,042 | 9.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Companies that have been operating 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 quality aftercare and customer service, such as part repairs and replacements.
- Contract: Look through the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
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 Rainbow City, AL Solar Cost FAQs
What is the average cost of installing solar panels in Rainbow City?
The average cost of solar panels in Rainbow City is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the actual 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.
Is it better to lease or buy solar panels in Rainbow City?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will installing solar panels impact my property value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Rainbow City?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of 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 keep using 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.