Solar Panel Cost Guide in Lake View, AL (2024 Update)
- Lake View Solar Installation Cost: $22,093
- 25-Year Savings: $31,124
- Payback Period: 11.8 Years
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Average Cost of Solar Panels in Lake View
We break down average solar pricing in Lake View.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake View, the average cost of a solar system is 3 per watt.The average Lake View homeowner needs a 9.0-kilowatt system, which would cost about $22,093 with the federal tax credit, or $31,593 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Lake View homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Lake View can save around $20,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar installer in Lake View that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lake View
| Year | Return on Investment |
|---|---|
| 1 years | $-20,245 |
| 3 years | $-16,550 |
| 5 years | $-12,855 |
| 7 years | $-9,160 |
| 9 years | $-5,464 |
| 11 years | $-1,769 |
| 13 years | $1,926 |
| 15 years | $5,621 |
| 17 years | $9,316 |
| 19 years | $13,011 |
| 21 years | $16,706 |
| 23 years | $20,402 |
| 25 years | $24,097 |
Top Solar Installers in Lake View
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar panel installer can make converting to solar power much easier. The expertise that solar installers provide can be valuable as well, especially if you aren’t sure what type of solar equipment would be right for your home.
If you’d like to go solar but still aren’t certain which solar panel company to go with, here are our suggestions for providers nearby:
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 Lake View
Factors that Affect Solar Panel Costs in Lake View
The cost of installing a solar system in Lake View can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,490. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lake View, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Lake View homeowners decide to finance their solar panel systems to offset upfront costs.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 back the loan.
Solar Panel Installation Company
The solar installer you select will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $15,696 | 12.3 years |
| 8 kW | $3.56 | $19,935 | $21,318 | 12.1 years |
| 10 kW | $3.49 | $24,430 | $27,137 | 11.8 years |
| 12 kW | $3.42 | $28,730 | $33,150 | 11.6 years |
| 14 kW | $3.35 | $32,834 | $39,359 | 11.4 years |
| 16 kW | $3.28 | $36,743 | $45,764 | 11.1 years |
| 18 kW | $3.21 | $40,456 | $52,364 | 10.9 years |
| 20 kW | $3.14 | $43,974 | $59,159 | 10.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Lake View, AL Solar Cost FAQs
How much does it cost to install solar panels in Lake View?
The average cost of solar panels in Lake View 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 model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Lake View?
You can’t get solar panels for free in Lake View. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Lake View?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
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.