Solar Panel Cost Guide in Troy, AL (Nov 2022)

  • Troy Solar Installation Cost: $14,989
  • 25-Year Savings: $30,488
  • Payback Period: 8.2 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Troy

Find out what the average cost of solar panel installation is in Troy.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Troy, the typical cost of solar panels is $2 per watt. The average Troy homeowner needs a 8.7-kilowatt system, which would cost about $14,989, or $11,092 after the federal solar tax credit of 30% is applied.

Keep in mind that the figures above are only estimates based on the average Troy homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing a solar system is a sound investment. The average homeowner in Troy can save about $20,000 on their electricity bills over 20 years.

For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Troy

Year Return on Investment
1 years $-13,170
3 years $-9,532
5 years $-5,894
7 years $-2,256
9 years $1,383
11 years $5,021
13 years $8,659
15 years $12,297
17 years $15,935
19 years $19,573
21 years $23,212
23 years $26,850
25 years $30,488

Top Solar Installers in Troy

Putting up solar panels on your own can be a stressful project, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be valuable as well, particularly if you aren't sure what brand of solar equipment would be right for your home.

Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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 Troy

Factors that Affect Solar Panel Costs in Troy

There are a number of criteria that can determine 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

The size of the solar panel system you need to offset your energy usage is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,450. The brand of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Troy, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. When figuring 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

A final factor to consider when trying to estimate the cost of solar for your home or business in Troy is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for example, you'll have many options for solar installers that provide a range of services for different budgets. Additionally, some companies in Troy know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 $20,531 8.6 years
8 kW $2.50 $13,994 $27,648 8.4 years
10 kW $2.45 $17,150 $34,904 8.2 years
12 kW $2.40 $20,168 $42,296 8.1 years
14 kW $2.35 $23,050 $49,825 7.9 years
16 kW $2.30 $25,794 $57,492 7.7 years
18 kW $2.25 $28,400 $65,296 7.6 years
20 kW $2.21 $30,870 $73,237 7.4 years

How to Save on Solar Panels

The solar company you go with will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:

  • Solar Panel Brands: Different companies will offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
  • Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
  • Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Warranty: If you're worried about the durability of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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 Troy, AL Solar Cost FAQs

How much does it cost to install solar panels in Troy?

This is a difficult question to answer precisely, because the cost depends on a variety of 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Troy?

Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.

Do solar panels increase how much your home is worth?

Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't go 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 solar panels."

How long do solar panels last in Troy?

Although 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 after having them for that long or you can continue to use 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us