Solar Panels Cost 16k-27k in Fairhope, AL | October, 2024

Solar Panels Cost $16k-$27k in Fairhope, AL | October, 2024

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How much do solar panels cost in Fairhope, AL in 2024?

Going solar in Fairhope, AL is approximately $3.95/W in October, 2024.

It will cost you $3,950, on average, for every 1000 watts (1 kW) your solar panels can produce. Typically, the cost of a 5 kW solar installation in Fairhope, after you deduct 30% federal tax credit, comes to $13,825. To meet your energy requirements, you could need a larger system.

On the left, select your area to find the typical roof size and the maximum production capacity for solar panels on homes in your county. Displayed below is an overview of the price, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Fairhope: $13,825US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Fairhope: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Fairhope: $17,241US Average: $15,784

Solar Potential in Fairhope

Estimated system size and solar electricity production per median viable roof in
Fairhope.

Roof size 1,037sq. ft.
Capacity 14.5kW DC
Electricity 18.9kkWh AC per yr.

Electricity Costs in Fairhope, AL & What that Means for Your Solar Panel Pricing

The average electricity cost for Fairhope consumers is $154.13 per month, with a usage of 1,190 kWh. Small homes, such as micro-apartments, are also covered in the figures mentioned in the previous sentence.

For October 2024, Fairhope, AL's average electricity rate is 12.95¢ per kWh.

To account for all of their energy consumption requirements of a typical user in Fairhope, a solar power system of 10 kW or more is needed. The price of aa 10 kW solar setup comes to $39,500 initially, but with the 30% federal tax credit, the total cost drops to $27,650.

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Average solar panel costs by system size in Fairhope

On the left side, you'll see a full pricing details of the various sizes of solar panel systems set up in Fairhope. Although a bigger solar installation carries a larger expense, it also provides greater electricity savings and more substantial income tax credits.

In the solar panel cost calculator found down and to the right, you can examine a cost and benefit breakdown to match an average $154.13electric bill in Fairhope. To obtain tailored results, adjust the $154.13 to match your usual electricity payment.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,178 a year
Est. Price
$16,590
Savings from a 6kWthis system
  • Est. yearly production 9,065 kWh
  • Est. monthly savings $98
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 3.63 tons a year
  • Equivalent to planting 167 trees a year
  • Equivalent to driving 8,992 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,375 a year
Est. Price
$19,355
Savings from a 7kWthis system
  • Est. yearly production 10,576 kWh
  • Est. monthly savings $115
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 4.24 tons a year
  • Equivalent to planting 195 trees a year
  • Equivalent to driving 10,490 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,571 a year
Est. Price
$22,120
Savings from a 8kWthis system
  • Est. yearly production 12,087 kWh
  • Est. monthly savings $131
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 4.84 tons a year
  • Equivalent to planting 222 trees a year
  • Equivalent to driving 11,989 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,768 a year
Est. Price
$24,885
Savings from a 9kWthis system
  • Est. yearly production 13,598 kWh
  • Est. monthly savings $147
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 5.45 tons a year
  • Equivalent to planting 250 trees a year
  • Equivalent to driving 13,488 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,964 a year
Est. Price
$27,650
Savings from a 10kWthis system
  • Est. yearly production 15,109 kWh
  • Est. monthly savings $154
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 5.7 tons a year
  • Equivalent to planting 262 trees a year
  • Equivalent to driving 14,100 mi less a year

Fairhope Solar Panel Installation Incentives & Rebates | 2024

Between 80% and 100% of your solar energy or wind turbine installation costs may be covered by the REAP Grant if you own a rural small business or farm. Wondering if you fit this category? Check your eligibility with our REAP Grant eligibility tool.

When it comes to residential solar, the majority of people qualify for the 30% federal income tax credit, making solar a practical option across most regions of the nation. A range of state and local incentives are in place to promote the use of solar energy.

There are 4 solar rebate and incentive programs currently available in Alabama by various utilities and government agencies.

Local Government Energy Loan Program

Value:Varies

Through its public-private partnership with PowerSouth, Alabama's Local Government Energy Loan Program offers zero-interest loans to governments and educational institutes for improvements involving renewable energy sources. The loans are repayable through savings on utility bills. They may borrow up to $350,000 for eligible projects, while schools may ask for $350,000 pr campus or $500,000 per system. There is a minimum loan of $50,000. An energy audit must be completed to identify improvements and the recipient must be benchmarked using the Energy Star Portfolio Manager program following installation. Details and application are available on the program website.

Local Option- Sales Tax Abatement for Renewable Energy Facilities

Value:Varies

In order to encourage renewable energy sources, Alabama allows local governments to provide exemptions and abatement for qualifying renewable energy facilities; the precise governmental body depends on the size of the facility. Facilities may also qualify for a reduced tax rate of 1.5%, although it was only available until 2019. Hydroelectric power is exempted from the definition of renewable energy resource, but most other renewable resources do meet the definition. Note that the local government can impose an additional sales or use tax. The exemption and abatement only apply to the noneducational portion of the sales tax.

Local Option- Property Tax Exemption for Renewable Energy Faclities

Value:Varies

Alabama provides abatement of property tax for qualifying renewable energy facilities for the noneducational part of the property tax. While most renewable resources are included in the program, hydroelectric power is exempted. The property tax abatement is based on the annual value of the assessed value. The abatement may be given for ten years and extended for another ten years, for a total of twenty years, depending on the permission of the local authority. Interested facilities can apply with the local governmental body. The local authority will perform a cost/benefit analysis to determine the maximum exemption period for the abatement.

AlabamaSAVES Revolving Loan Program

Value:Varies

Alabama SAVES funds subordinated participating interests in qualified third-party loans for financing energy projects of existing Alabama businesses. The participating interest can be 25% of the loan or 100% of the cost of the project, whichever is lower. Before funding can be awarded, the project must undergo an energy assessment and an estimated energy savings impact must be submitted to ensure the loan will be paid back within 10 years. This program was initially capitalized through the American Recovery and Reinvestment Program and is offered through the Alabama Department of Economic and Community Affairs. Please see the program website for information and program materials.

Are solar panels worth it in Alabama?

For those looking to stay in their home past the solar system's payback period, solar panels are a wise investment in Fairhope. Having a 5 kW solar system in Fairhope, AL can potentially save you roughly $23,166.2 over a span of 20 years, with an average break even point of 7 years.

The cost of not having solar panels in Fairhope, AL

Opting not to install solar panels or a separate backup energy solution results in you missing out on the savings mentioned earlier and leaves you fully reliant on your electric utility for electricity. Recent news has demonstrated that complete dependence on your utility company is not always ideal.

In recent times, customers in Fairhope have encountered an average of 2.09 outages per year. On average, each outage lasts for 160.03 minutes. Major events like lightning strikes, overloaded power grids, or wildlife damage can considerably extend these durations.

A solar energy system could help mitigate the effects of future outages, whether or not it has a backup battery.

Power Outages

Currently, 0 customers are being tracked in Baldwin County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Fairhope, AL?

Your Energy Needs - The cost per watt is lower with larger solar panel systems, even though the initial cost is higher. Consumers often realize that setting up a solar system to replace their electric bill is a beneficial decision, resulting in the most savings.

Make & Model - There are a variety of makes and models of solar panels and mounting equipment. The potential system preferences of your chosen contractor make it crucial to choose a reputable company. Buyers who choose high-quality materials generally enjoy a better long-term experience.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They are pricier but generate more energy. Many professionals in solar installation use panels crafted from this material.

Your Property - Uneven ground, trees, or other obstructions can make the installation process more challenging. Nowadays, the many solar installers can evaluate your home with satellite images and incorporate these factors in the first cost estimate.

Labor Rates - The different wages that companies give their employees lead to costs that are ultimately borne by consumers. Reviews for work and customer service are often higher for companies that pay higher wages.

Permitting & Interconnection - Regional differences in permitting and utility interconnection fees will influence your installation cost. Good installers will factor these costs into your initial quotes to prevent unexpected expenses.

See what solar panels cost in other AL cities

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Who are the best solar installers in Fairhope?

Eagle Solar and Light

Birmingham, AL(205) 202-2208

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Monitoring of independent energy generation.
  • Auditing of energy requirements for independent energy generation.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Go Solar Power

Boca Raton, FL(800) 530-9597

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Tungsten Electric

Nashville-Davidson metropolitan government, TN(615) 491-0206

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

LightEdison

Denver, CO(888) 966-6377

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

Solar Plus

Atlanta, GA(470) 378-1182

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.

Fairhope, AL Solar Panel Cost FAQs

  • As recorded in October, 2024, the standard cost for solar panel installations in Fairhope, AL is $3.95/W. After federal tax credits, the installation of a 5 kW solar panel system in Fairhope, AL is estimated to cost $13,825.

  • Right now, Alabama has 4 rebates and incentives available through a variety of utility companies and government entities. In addition, nearly all people are eligible for the 30%federal tax credit.

  • Choosing to pay cash provides the most savings, but today there are many financing options for solar panels that are also cost-effective. Initial quotes from installers will frequently include information about available financing options.

  • Yes, solar panels systems of 5 kW in Fairhope, AL typically have a payback period of 7years, with expected savings on electricity costs of $23,166.2 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01