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

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

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

Getting solar panels installed in October, 2024 in Florence, AL is around $3.9/W.

So, for every 1000 watts (or 1 Kw) your system can generate you will spend $3,900 to get your system installed in . After receiving the 30% federal tax credit, a 5 kW system in Florence sets you back $13,650. Be aware that a bigger system may be essential to ensure your energy requirements are met.

On the left-hand side, pick your county to determine the average roof size and the average maximum capacity for solar panel systems on homes within your area. Displayed below is a breakdown of the costs, 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.
Florence: $13,650US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Florence: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Florence: $14,549US Average: $15,784

Solar Potential in Florence

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

Roof size 965sq. ft.
Capacity 13.5kW DC
Electricity 16.6kkWh AC per yr.

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

On average, a Florence energy consumer uses1,243 kWh and pays $141.87 per month for electricity. Small residences, such as lofts and duplexes, are also included in the statistics mentioned in the prior sentence.

The mean rate for electricity in Florence, AL during October, 2024 is 11.42¢ per kWh.

In Florence, the typical energy consumer will need a solar power setup of 10 kW or more to cover their entire power demands. Currently, a 10 kW solar installation will cost around $27,300 after incentives.

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Average solar panel costs by system size in Florence

On the left and below, there is the pricing details for various sizes of the solar panel systems installed in Florence. Of course, a more extensive solar system means a higher initial expense, but it also leads to more significant electricity savings and more substantial income tax credits.

The breakdown of costs and benefits for solar panels, displayed in the calculator to the right and below, is based on an average electric bill of $141.87 in Florence. If you want more tailored results, just adjust the $141.87 to whatever your usual electricity bill is.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $997 a year
Est. Price
$16,380
Savings from a 6kWthis system
  • Est. yearly production 9,065 kWh
  • Est. monthly savings $83
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 3.33 tons a year
  • Equivalent to planting 153 trees a year
  • Equivalent to driving 8,251 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,163 a year
Est. Price
$19,110
Savings from a 7kWthis system
  • Est. yearly production 10,576 kWh
  • Est. monthly savings $97
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 3.89 tons a year
  • Equivalent to planting 179 trees a year
  • Equivalent to driving 9,627 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,330 a year
Est. Price
$21,840
Savings from a 8kWthis system
  • Est. yearly production 12,087 kWh
  • Est. monthly savings $111
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 4.44 tons a year
  • Equivalent to planting 204 trees a year
  • Equivalent to driving 11,002 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,496 a year
Est. Price
$24,570
Savings from a 9kWthis system
  • Est. yearly production 13,598 kWh
  • Est. monthly savings $125
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 5 tons a year
  • Equivalent to planting 230 trees a year
  • Equivalent to driving 12,377 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,662 a year
Est. Price
$27,300
Savings from a 10kWthis system
  • Est. yearly production 15,109 kWh
  • Est. monthly savings $138
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 5.56 tons a year
  • Equivalent to planting 255 trees a year
  • Equivalent to driving 13,752 mi less a year

Florence Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can potentially cover between 80% and 100% of the installation costs for photovoltaic or wind turbines for rural small businesses and farms. If you believe yourself eligible, we recommend utilizing our REAP Grant eligibility tool to confirm your qualification.

Most residents can qualify for a 30% federal income tax credit for residential solar, which makes it a practical option in numerous areas of the United States. Along with that, there are several state and local efforts designed to further encourage the uptake of solar energy.

Alabama offers 4 solar rebate and incentive initiatives through different 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?

If your intention is to stay in your home beyond the solar payback period, choosing solar panels is a good option in Florence. Having a 5 kW solar system in Florence, AL can potentially save you roughly $20,398.8 over a span of 20 years, with an average break even point of 8 years.

The cost of not having solar panels in Florence, AL

Beyond forgoing the savings, the absence of solar panels or another backup energy source results in full dependence on your electric utility for your power needs. As shown by many recent news reports, full reliance on your utility is not always ideal.

Each year, customers in Alabama experience about 1.69 outages. On average, each outage lasts for 168.86 minutes. Major events like wildlife damage, aging infrastructure or lightning strikes can considerably extend these durations.

Whether it includes a backup battery or not, a solar panel system could ease the burden of any future power interruptions you may experience.

Power Outages

Currently, 0 customers are being tracked in Lauderdale County.

Learn more

Customers Out:

0

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

Your Energy Needs - The initial investment for larger solar panel installations is greater, but the average price per watt drops as the system grows. Many consumers realize it's a great idea to set up a solar system that can produce enough power to fully cover their electric bill, because it helps them save more money.

Make & Model - Just like other products, solar panels and mounting equipment are available in a range of makes and models. The potential brand preferences of your selected installer make it essential to choose a recommended company. For buyers desiring a better long-term experience, opting for higher quality makes and models is critical.

Solar Panel Type - For good reason why monocrystalline panels are now the industry standard. These panels cost more but yield a higher energy efficiency. The majority of installers in the industry work with panels made from this material.

Your Property - Each property and home has its own unique features. Uneven ground, trees, or other challenges may add to the difficulty of the installation. Solar installers today frequently utilize satellite imagery to evaluate your home and factor in these factors into the preliminary cost estimate.

Labor Rates - Employees receive varied wages from different companies, and these costs are passed on to the consumers. Usually, companies paying more in wages also enjoy higher ratings for their services and customer service.

Permitting & Interconnection - Installation costs will be impacted by varying local permitting and utility interconnection fees, depending on the region. Good installers will factor these costs into your preliminary 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 Florence?

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.

Florence, AL Solar Panel Cost FAQs

  • As of October, 2024, the average per-watt cost for solar panels in Florence, AL is $3.9/W. Post federal tax credit, a 5 kW solar panel system installation in Florence, AL will roughly cost $13,650.

  • In Alabama, you have access to 4 rebates and incentives provided by numerous utilities and government organizations. Moreover, nearly everyone is eligible for the 30% federal income 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. Information about financing options is typically included in initial quotes provided by installers.

  • Yes, in Florence, AL, the average time for 5 kW solar panel systems to pay for themselves is 8 years, leading to electricity savings of $20,398.8 over a 20-year period.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01