Solar Panel Cost Guide in Troy, AL (2024 Update)
- Troy Solar Installation Cost: $21,343
- 25-Year Savings: $23,319
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Troy
See how much it might cost to make the switch to solar in Troy.
The national average cost of solar panels is $2.66 per watt, but in Troy it’s 3 per watt.The average solar panel system size in Troy is around 8.7 kilowatts, meaning a cost of about $21,343 for a solar installation, or $30,520 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what company you go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Troy can save about $20,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a customized quote.
Solar savings over time in Troy
| Year | Return on Investment |
|---|---|
| 1 years | $-19,557 |
| 3 years | $-15,984 |
| 5 years | $-12,411 |
| 7 years | $-8,838 |
| 9 years | $-5,265 |
| 11 years | $-1,692 |
| 13 years | $1,881 |
| 15 years | $5,454 |
| 17 years | $9,027 |
| 19 years | $12,600 |
| 21 years | $16,173 |
| 23 years | $19,746 |
| 25 years | $23,319 |
Top Solar Installers in Troy
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar company can make your switch to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you’d like to make the switch to solar but still aren’t certain which solar panel company to go with, here are our recommendations for providers in Troy:
See all of the solar companies in Troy
Factors that Affect Solar Panel Costs in Troy
For many Troy homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Troy, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,490 per kilowatt in Troy.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Troy, where sunlight is 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Though solar loans make going solar more accessible for Troy homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you select will play a role in your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell high-quality, high-efficiency and high-price products — 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 go with the company that provides the products, warranties and services you want and also fit into 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 | $3.63 | $15,244 | $15,988 | 12.2 years |
| 8 kW | $3.56 | $19,935 | $21,708 | 12.0 years |
| 10 kW | $3.49 | $24,430 | $27,624 | 11.7 years |
| 12 kW | $3.42 | $28,730 | $33,735 | 11.5 years |
| 14 kW | $3.35 | $32,834 | $40,041 | 11.3 years |
| 16 kW | $3.28 | $36,743 | $46,543 | 11.0 years |
| 18 kW | $3.21 | $40,456 | $53,240 | 10.8 years |
| 20 kW | $3.14 | $43,974 | $60,133 | 10.6 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 pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
EcoWatch's Troy, AL Solar Cost FAQs
How much does it cost to install solar panels in Troy?
The average cost of solar panels in Troy 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 things like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Troy?
A solar panel system isn’t free in Troy, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can decide to replace them once you've had 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.