Solar Panel Cost Guide in Oxford, AL (2024 Update)
- Oxford Solar Installation Cost: $22,347
- 25-Year Savings: $23,843
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Oxford
See how much it might cost to make the switch to solar in Oxford.
While the national average of solar panels is $2.66 per watt, solar panels in Oxford generally cost around 3.Using this figure, a typical 9.1-kW system would cost about $22,347 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary based on a few factors, such as what size system you need, your energy usage and what installation company you go with.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Oxford see about $21,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a highly rated solar company in Oxford for a customized quote.
Solar savings over time in Oxford
| Year | Return on Investment |
|---|---|
| 1 years | $-20,499 |
| 3 years | $-16,804 |
| 5 years | $-13,109 |
| 7 years | $-9,414 |
| 9 years | $-5,719 |
| 11 years | $-2,024 |
| 13 years | $1,672 |
| 15 years | $5,367 |
| 17 years | $9,062 |
| 19 years | $12,757 |
| 21 years | $16,452 |
| 23 years | $20,147 |
| 25 years | $23,843 |
Top Solar Installers in Oxford
Although you can install solar panels by yourself, it involves extra energy and know-how. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Some solar installers, especially local ones, can help you better understand incentives in Oxford, optimizing your ROI.
If you're on the hunt for a solar installer in Oxford, the EcoWatch team has organized a list of our top suggestions here:
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 Oxford
Factors that Affect Solar Panel Costs in Oxford
Though the average cost of a solar system in Oxford is $22,347, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Oxford, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $3,490 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Oxford average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Oxford homeowners choose to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their bigger 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 | $18,335 | 11.3 years |
| 8 kW | $3.56 | $19,935 | $24,837 | 11.1 years |
| 10 kW | $3.49 | $24,430 | $31,535 | 10.9 years |
| 12 kW | $3.42 | $28,730 | $38,429 | 10.7 years |
| 14 kW | $3.35 | $32,834 | $45,518 | 10.5 years |
| 16 kW | $3.28 | $36,743 | $52,802 | 10.3 years |
| 18 kW | $3.21 | $40,456 | $60,282 | 10.0 years |
| 20 kW | $3.14 | $43,974 | $67,957 | 9.8 years |
How to Save on Solar Panels
There are a lot of 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:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: When looking through your solar company’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 if the company goes out of business.
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 Oxford, AL Solar Cost FAQs
How much does it cost to install solar panels in Oxford?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Oxford?
You can’t get solar panels for free in Oxford. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will 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 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% with a solar installation."
How long do solar panels last in Oxford?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.