Solar Panel Cost Guide in Geneva, AL (2024 Update)
- Geneva Solar Installation Cost: $21,163
- 25-Year Savings: $36,088
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Geneva
Find out how much it might cost to make the switch to solar in Geneva.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Geneva, the typical cost of solar panels is 3 per watt.To cover the typical energy needs of the average home in Geneva, most homeowners require a 8.7-kilowatt system. Using the figure above, a solar installation costs around $21,163, or $30,263 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what company you go with.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically good, with a net average savings of about $22,000 over 20 years on electricity bills.
Click the button below to get connected to a reputable solar panel company in your area for a custom quote.
Solar savings over time in Geneva
| Year | Return on Investment |
|---|---|
| 1 years | $-19,316 |
| 3 years | $-15,621 |
| 5 years | $-11,925 |
| 7 years | $-8,230 |
| 9 years | $-4,535 |
| 11 years | $-840 |
| 13 years | $2,855 |
| 15 years | $6,550 |
| 17 years | $10,246 |
| 19 years | $13,941 |
| 21 years | $17,636 |
| 23 years | $21,331 |
| 25 years | $25,026 |
Top Solar Installers in Geneva
When going solar, many homeowners decide to hire a solar company since handling can be a difficult project. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be right for your family.
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 nearby:
Best National Provider
SunPower
- 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
- 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 Geneva
Factors that Affect Solar Panel Costs in Geneva
The cost of installing a solar system in Geneva can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,490.There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install 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
Many homeowners find the average cost of solar in Geneva to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.It’s a good idea to add 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Geneva, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Geneva 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 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 | $3.63 | $15,244 | $20,041 | 10.8 years |
| 8 kW | $3.56 | $19,935 | $27,112 | 10.6 years |
| 10 kW | $3.49 | $24,430 | $34,378 | 10.4 years |
| 12 kW | $3.42 | $28,730 | $41,840 | 10.2 years |
| 14 kW | $3.35 | $32,834 | $49,498 | 10.0 years |
| 16 kW | $3.28 | $36,743 | $57,350 | 9.8 years |
| 18 kW | $3.21 | $40,456 | $65,399 | 9.6 years |
| 20 kW | $3.14 | $43,974 | $73,642 | 9.3 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 a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you’re aligned with the installer 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.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- 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 past customers.
Best National Provider
SunPower
- 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
- 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 Geneva, AL Solar Cost FAQs
How much does it cost to install solar panels in Geneva?
The average cost of solar panels in Geneva is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration 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.
How will having solar panels impact my home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose 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 a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.