Solar Panel Cost Guide in Selma, AL (2023 Update)
- Selma Solar Installation Cost: $15,058
- 25-Year Savings: $40,047
- Payback Period: 6.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Selma
Let's take a look at the average cost of solar in Selma.
The average cost of a solar system in Selma is 2.45 per watt. To account for the typical energy needs of the average home in Selma, most homeowners require a 8.8-kilowatt system. Using the figure above, a solar installation costs about $15,058, or $21,533 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar system you want to get, your solar contractor and more. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Selma can save around $24,000 on their electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Selma
| Year | Return on Investment |
|---|---|
| 1 years | $-12,854 |
| 3 years | $-8,445 |
| 5 years | $-4,037 |
| 7 years | $372 |
| 9 years | $4,780 |
| 11 years | $9,188 |
| 13 years | $13,597 |
| 15 years | $18,005 |
| 17 years | $22,413 |
| 19 years | $26,822 |
| 21 years | $31,230 |
| 23 years | $35,638 |
| 25 years | $40,047 |
Top Solar Installers in Selma
When making the switch to solar, many homeowners choose to use a solar installer since installing a solar system yourself can be a difficult project. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Selma
Factors that Affect Solar Panel Costs in Selma
There are a number of factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Selma provide solar loans, which reduce your upfront costs of installing solar. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Selma is the company you choose to install your solar system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Selma have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $2.55 | $10,702 | $26,949 | 7.1 years |
| 8 kW | $2.50 | $13,994 | $36,206 | 7.0 years |
| 10 kW | $2.45 | $17,150 | $45,600 | 6.8 years |
| 12 kW | $2.40 | $20,168 | $55,132 | 6.7 years |
| 14 kW | $2.35 | $23,050 | $64,801 | 6.6 years |
| 16 kW | $2.30 | $25,794 | $74,607 | 6.4 years |
| 18 kW | $2.25 | $28,400 | $84,550 | 6.3 years |
| 20 kW | $2.21 | $30,870 | $94,631 | 6.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
- 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 substantial role in the company you opt for.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project timeline.
- 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
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 Selma, AL Solar Cost FAQs
How much does it cost to install solar panels in Selma?
The average cost of solar panels in Selma 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,255.01 per year.
How long do solar panels last in Selma?
On average, the lifespan of solar panels is 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 higher 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.