Solar Panel Cost Guide in Selma, AL (2024 Update)
- Selma Solar Installation Cost: $21,453
- 25-Year Savings: $40,044
- Payback Period: 9.7 Years
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Average Cost of Solar Panels in Selma
Find out what the average cost of a solar system is in Selma.
Although the national average of solar panels is $2.66 per watt, solar panels in Selma generally cost around 3.The average Selma homeowner needs a 8.8-kilowatt system, which would cost about $21,453 with the federal tax credit, or $30,678 before the 0 tax credit is applied.
The true price you pay can be higher or lower than the average in Selma based on several factors, such as the kind of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Selma see about $24,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Selma for a quote for your home.
Solar savings over time in Selma
| Year | Return on Investment |
|---|---|
| 1 years | $-19,606 |
| 3 years | $-15,910 |
| 5 years | $-12,215 |
| 7 years | $-8,520 |
| 9 years | $-4,825 |
| 11 years | $-1,130 |
| 13 years | $2,565 |
| 15 years | $6,261 |
| 17 years | $9,956 |
| 19 years | $13,651 |
| 21 years | $17,346 |
| 23 years | $21,041 |
| 25 years | $24,736 |
Top Solar Installers in Selma
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar company can make your switch to solar power much easier. Companies can also provide access to quality options of the best solar panels and help you decide which one will be right for your family.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our recommendations for providers near you:
See all of the solar companies in Selma
Factors that Affect Solar Panel Costs in Selma
For many Selma homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Selma, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant 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 power your household uses, the larger your system will likely need to be. You can expect to spend about $3,490 per kilowatt in Selma.There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install 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 Selma to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.However, the interest on solar loans also adds to your total costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Selma, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $22,406 | 10.1 years |
| 8 kW | $3.56 | $19,935 | $30,265 | 9.9 years |
| 10 kW | $3.49 | $24,430 | $38,320 | 9.7 years |
| 12 kW | $3.42 | $28,730 | $46,571 | 9.5 years |
| 14 kW | $3.35 | $32,834 | $55,017 | 9.3 years |
| 16 kW | $3.28 | $36,743 | $63,658 | 9.1 years |
| 18 kW | $3.21 | $40,456 | $72,495 | 9.0 years |
| 20 kW | $3.14 | $43,974 | $81,527 | 8.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
EcoWatch's Selma, AL Solar Cost FAQs
What is the average cost of installing solar panels in Selma?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Selma?
You can’t get solar panels for free in Selma. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Selma, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.