Solar Panel Cost Guide in Rainbow City, AL (2023 Update)
- Rainbow City Solar Installation Cost: $15,858
- 25-Year Savings: $35,469
- Payback Period: 7.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rainbow City
Find out what the average cost of installing solar panels is in Rainbow City.
While the national average of solar panels is $2.66 per watt, solar panels in Rainbow City generally cost around 2.45. Using this figure, a typical 9.2-kW system would cost about $15,864 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs may vary based on your specific situation and what company you want to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Rainbow City can save about $21,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar installer in Rainbow City for a custom quote.
Solar savings over time in Rainbow City
| Year | Return on Investment |
|---|---|
| 1 years | $-14,011 |
| 3 years | $-10,316 |
| 5 years | $-6,620 |
| 7 years | $-2,925 |
| 9 years | $770 |
| 11 years | $4,465 |
| 13 years | $8,160 |
| 15 years | $11,855 |
| 17 years | $15,550 |
| 19 years | $19,246 |
| 21 years | $22,941 |
| 23 years | $26,636 |
| 25 years | $30,331 |
Top Solar Installers in Rainbow City
Trying to install solar panels by yourself can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be valuable as well, particularly if you aren't sure what type of solar equipment would be right for your home.
If you're looking for a solar installer in Rainbow City, we've organized a list of our top suggestions here:
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
Though the average cost of a solar system in Rainbow City is $15,864, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,450. The model of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Rainbow City, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Rainbow City, you'll have many options to choose from, but each comes at different 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 find a company that offers 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 | $22,603 | 8.0 years |
| 8 kW | $2.50 | $13,994 | $30,412 | 7.9 years |
| 10 kW | $2.45 | $17,150 | $38,358 | 7.7 years |
| 12 kW | $2.40 | $20,168 | $46,441 | 7.6 years |
| 14 kW | $2.35 | $23,050 | $54,661 | 7.4 years |
| 16 kW | $2.30 | $25,794 | $63,019 | 7.3 years |
| 18 kW | $2.25 | $28,400 | $71,514 | 7.1 years |
| 20 kW | $2.21 | $30,870 | $80,146 | 7.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
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
How much does it cost to install solar panels in Rainbow City?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,250 for a 5-kW system and $24,500 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 higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Rainbow City?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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.
Can you sell solar power back to the grid in Rainbow City?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.