Solar Panels Cost 16k-27k in Hoover, AL | September, 2024

Solar Panels Cost $16k-$27k in Hoover, AL | September, 2024

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

On average, in Hoover, AL in the month of September, 2024, the cost per watt for going solar is $3.97/W.

In accordance with this cost, we can come to the conclusion that for every 1000 watts (1 kW) of solar power capacity will require an investment of $3,970 for installation. Typically, the cost for a 5 kW solar panel system in Hoover, after you subtract 30% federal tax credit, is $13,895. Please note that a larger system could be needed to satisfy your energy needs.

To the left, you can select a county to view the average roof size and the average maximum generation capacity for residential solar on homes in your area. Outlined below are the costs, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Hoover: $13,895US Average: $12,598
Average Payback Period The number of years until you break even on the solar investment.
Hoover: 6 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Hoover: $24,869US Average: $15,732

Solar Potential in Hoover

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

Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 12.5kkWh AC per yr.

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

In Hoover, energy consumers usually see an average electric bill of $186.33 each month, with an average consumption of 1,142 kWh. It is important to note that this number also encompasses smaller residences like apartments, which usually use lower energy.

For September 2024, the mean electricity rate in Hoover, AL is 16.32¢ per kWh.

To cover all of their power consumption needs of a typical user in Hoover, a solar system of 10 kW or higher is necessary. The initial cost for a 10 kW solar system amounts to $39,700, but after receiving a 30% federal tax credit, your total comes down to $27,790.

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Average solar panel costs by system size in Hoover

Presented on the left and below is the price breakdown for different sizes of solar panel systems set up in Hoover. Although a bigger solar installation comes with a greater cost, it also offers higher electricity savings and more substantial income tax credits.

The solar panel cost and benefit breakdown, visible in the calculator to the right and below, is based on an average electric bill of $186.33 in Hoover. If you desire customized results, modify the $186.33 to your average electricity bill amount.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,413 a year
Est. Price
$16,674
Savings from a 6kWthis system
  • Est. yearly production 8,829 kWh
  • Est. monthly savings $118
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 3.61 tons a year
  • Equivalent to planting 166 trees a year
  • Equivalent to driving 8,924 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,648 a year
Est. Price
$19,453
Savings from a 7kWthis system
  • Est. yearly production 10,300 kWh
  • Est. monthly savings $137
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 4.21 tons a year
  • Equivalent to planting 193 trees a year
  • Equivalent to driving 10,411 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,883 a year
Est. Price
$22,232
Savings from a 8kWthis system
  • Est. yearly production 11,772 kWh
  • Est. monthly savings $157
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 4.81 tons a year
  • Equivalent to planting 221 trees a year
  • Equivalent to driving 11,898 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $2,119 a year
Est. Price
$25,011
Savings from a 9kWthis system
  • Est. yearly production 13,243 kWh
  • Est. monthly savings $177
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 5.41 tons a year
  • Equivalent to planting 248 trees a year
  • Equivalent to driving 13,385 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,354 a year
Est. Price
$27,790
Savings from a 10kWthis system
  • Est. yearly production 14,715 kWh
  • Est. monthly savings $186
  • Full payback in 12 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

Hoover Solar Panel Installation Incentives & Rebates | 2024

The financial burden of installing photovoltaic or wind turbines for rural agricultural enterprises and small businesses could be eased with the REAP Grant, covering 80% to 100% of the costs. To see if you qualify, use our REAP Grant eligibility tool.

Nearly all homeowners can benefit from the federal 30% income tax credit for solar panels, which turns installing solar energy a sensible choice in numerous regions of the U.S. Additionally, there are numerous state and local incentives to further encourage the adoption of solar energy.

In Alabama, various utilities and government agencies offer 4 solar rebate and incentive programs.

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 planning to remain in their homes after the solar system's payback period, installing solar panels is a clear choice in Hoover. Having a 5 kW solar system in Hoover, AL can potentially save you roughly $30,824.2 over a span of 20 years, with an average break even point of 6 years.

The cost of not having solar panels in Hoover, AL

In addition to forgoing the savings, the absence of solar panels or another backup energy source leads to full dependence on your electric utility for your power needs. Complete reliance on your utility provider is not always ideal, as recent examples in the news have demonstrated.

In recent years, Hoover has seen an average of 1.12 utility outages per customer each year. Outages generally last for an average of 110.26 minutes. During major occurrences like lightning strikes, grid management errors, or construction accidents, these times can extend significantly.

A solar panel system, regardless of whether it includes a backup battery or not, could lessen the impact of future power outages you might face.

Power Outages

Currently, 0 customers are being tracked in Jefferson County.

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Customers Out:

0

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

Your Energy Needs - Larger solar panel systems come with a greater upfront cost, but the price per watt is decreased. Setting up a solar panel system that can cover the electric bill is advantageous to consumers because of the savings gained.

Make & Model - Just like any other product, solar panels and mounting equipment are offered in a range of makes and models. Because the installer you choose might have particular system preferences, selecting a reputable installer is even more important. The selection of superior makes and models can greatly better the long-term experience for buyers.

Solar Panel Type - There's a good reason why monocrystalline panels are now considered the industry standard. Despite the higher price tag, these panels generate greater energy output. The majority of installation experts use panels constructed from this material.

Your Property - No two properties or homes are the same. Trees, irregular terrain, or additional hurdles can make the installation process more challenging. Today, many solar installers can assess your home with satellite images and factor in these considerations in the initial cost estimate.

Labor Rates - Companies pay varied wages to their employees, and these costs are inevitably passed on to the consumers. Businesses paying higher wages typically receive better reviews for their work and customer service.

Permitting & Interconnection - The cost of installation will change depending on local permitting and utility interconnection fees. Reputable local installers will include these figures in your initial estimates to ensure transparency.

See what solar panels cost in other AL cities

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Who are the best solar installers in Hoover?

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.

Hoover, AL Solar Panel Cost FAQs

  • During September, 2024, the average price for solar panel installations in Hoover, AL is $3.97/W. A 5 kW solar panel system will cost you around $13,895 in Hoover, AL after the federal tax credit is applied.

  • Currently, Alabama residents can benefit from 4 rebates and incentives available through various utilities and government bodies. On top of that, nearly everyone can qualify for the 30% federal tax credit.

  • Opting for cash payments yields the highest savings, but there are now various financing options for solar panels that are cost-effective. Financing details are often provided by installers and may be included in your initial quotes.

  • Yes, on average, 5 kW solar panels in Hoover, AL pay for themselves in 6 years, with homeowners saving approximately $30,824.2 on electricity over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-09-01