Solar Panel Cost Guide in Troy, AL (Mar 2023)
- Troy Solar Installation Cost: $14,989
- 25-Year Savings: $30,488
- Payback Period: 8.2 Years
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Updated March 14, 2023
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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 2.45 per watt. The average Troy homeowner needs a 8.7-kilowatt system, which would cost about $14,989 with the federal tax credit, or $21,434 before the 30% tax credit 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 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 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, which is measured in kilowatts, 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 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 Troy, AL Solar Cost FAQs
What is the average cost of installing solar panels in Troy?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Does Troy have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
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 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.