Solar Panel Cost Guide in Meridianville, AL (2024 Update)
- Meridianville Solar Installation Cost: $23,035
- 25-Year Savings: $5,320
- Payback Period: 26.8 Years
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Average Cost of Solar Panels in Meridianville
Find out what the average cost of a solar system is in Meridianville.
The national average cost of solar panels is $2.66 per watt, but in Meridianville it’s 3 per watt.The average Meridianville homeowner needs a 9.4-kilowatt system, which would cost about $23,035 with the federal tax credit, or $32,940 before the 0 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 making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what company you go with.But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $9,100 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company in Meridianville for a quote for your home.
Solar savings over time in Meridianville
| Year | Return on Investment |
|---|---|
| 1 years | $-21,660 |
| 3 years | $-18,910 |
| 5 years | $-16,160 |
| 7 years | $-13,410 |
| 9 years | $-10,660 |
| 11 years | $-7,910 |
| 13 years | $-5,161 |
| 15 years | $-2,411 |
| 17 years | $339 |
| 19 years | $3,089 |
| 21 years | $5,839 |
| 23 years | $8,589 |
| 25 years | $11,339 |
Top Solar Installers in Meridianville
When going solar, many homeowners opt to go with a solar installer since installing a solar system yourself can be a time-consuming project. In addition, if you’d like to maximize your investment in solar energy, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
Working with a professional 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 Meridianville
Factors that Affect Solar Panel Costs in Meridianville
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Meridianville: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require 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.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Meridianville, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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
Many homeowners find the average cost of solar in Meridianville to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.However, the interest on solar loans also adds to your all-in costs, so it’s vital to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Meridianville is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that provide a range of services at different costs.Additionally, some companies in Meridianville are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $-1,569 | 27.9 years |
| 8 kW | $3.56 | $19,935 | $-1,701 | 27.3 years |
| 10 kW | $3.49 | $24,430 | $-1,638 | 26.8 years |
| 12 kW | $3.42 | $28,730 | $-1,379 | 26.3 years |
| 14 kW | $3.35 | $32,834 | $-925 | 25.7 years |
| 16 kW | $3.28 | $36,743 | $-276 | 25.2 years |
| 18 kW | $3.21 | $40,456 | $569 | 24.7 years |
| 20 kW | $3.14 | $43,974 | $1,610 | 24.1 years |
How to Save on Solar Panels
There are many companies available in Meridianville, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: If you’re concerned about the durability of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
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 Meridianville, AL Solar Cost FAQs
How much does it cost to install solar panels in Meridianville?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $17,450 for a 5-kW system and $34,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Meridianville?
A solar panel system isn’t free in Meridianville, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact how much my 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 a solar system."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a 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.