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

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

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

In Oxford, AL, the price per watt of solar systems is about $3.95/W in October, 2024.

Applying this cost, expect to spend $3,950, on average, for every 1000 watts (or 1 kW) of solar energy your solar panel system can produce. On average, the expense for a 5 kW solar panel install in Oxford, after the 30% federal tax credit, comes to $13,825. Be mindful that a bigger system could be necessary to adequately cover your energy demands.

By selecting your county on the left, you can view the average roof size and the average maximum capacity for residential solar panel systems in your area. See below a full overview of the {price|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.
Oxford: $13,825US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Oxford: 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.
Oxford: $24,952US Average: $15,784

Solar Potential in Oxford

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

Roof size 751sq. ft.
Capacity 10.5kW DC
Electricity 12.9kkWh AC per yr.

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

The average monthly electric bill for Florida residents is $186.26, with a typical usage of 1,142 kWh. Small homes, including micro-apartments, are also covered in the data mentioned in the previous sentence.

The average electricity rate in Oxford, AL in October 2024 is 16.3¢ per kWh.

In Oxford, a system size of 10 kW or larger is needed for the average electricity user to account for their entire energy requirements. The anticipated cost for a 10 kW solar panel installation is $39,500 before incentives, but with a 30% federal tax credit, it drops to $27,650.

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Average solar panel costs by system size in Oxford

To the left and below, the pricing details for different sizes of the solar panel systems installed in Oxford is shown. Although a bigger solar installation carries a larger expense, it also brings higher electricity savings and larger income tax credits.

The solar panel cost calculator to the right and below analyzes costs and benefits, based on an average $186.26 electric bill in Oxford Alter the $186.26 to fit your average bill payment for more precise outcomes.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,450 a year
Est. Price
$16,590
Savings from a 6kWthis system
  • Est. yearly production 9,065 kWh
  • Est. monthly savings $121
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 4.55 tons a year
  • Equivalent to planting 209 trees a year
  • Equivalent to driving 11,262 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,692 a year
Est. Price
$19,355
Savings from a 7kWthis system
  • Est. yearly production 10,576 kWh
  • Est. monthly savings $141
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 5.31 tons a year
  • Equivalent to planting 244 trees a year
  • Equivalent to driving 13,139 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,934 a year
Est. Price
$22,120
Savings from a 8kWthis system
  • Est. yearly production 12,087 kWh
  • Est. monthly savings $161
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 6.07 tons a year
  • Equivalent to planting 279 trees a year
  • Equivalent to driving 15,016 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $2,176 a year
Est. Price
$24,885
Savings from a 9kWthis system
  • Est. yearly production 13,598 kWh
  • Est. monthly savings $181
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 6.82 tons a year
  • Equivalent to planting 313 trees a year
  • Equivalent to driving 16,894 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,417 a year
Est. Price
$27,650
Savings from a 10kWthis system
  • Est. yearly production 15,109 kWh
  • Est. monthly savings $186
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 7 tons a year
  • Equivalent to planting 322 trees a year
  • Equivalent to driving 17,331 mi less a year

Oxford Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant currently offers between 80% and 100% coverage for the installation costs of photovoltaic or wind turbines for rural small businesses and agricultural businesses. Think you fit the criteria? Verify your eligibility with our REAP Grant eligibility tool.

Thanks to the 30% federal income tax credit, residential solar installations are within reach for most people, rendering solar power a feasible investment across various states. Furthermore, various state and local programs are in place to further encourage the adoption of solar power.

Multiple utilities and government agencies in Alabama provide 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 intending to remain in their homes after the solar system's payback period, adding solar panels is a obvious choice in Oxford. Installing a 5 kW solar system in Oxford, AL will, on average, save you $30,877.4 over 20 years, and you can expect to break even in about 6 years.

The cost of not having solar panels in Oxford, AL

Not having solar panels or any other backup energy system results in missing the earlier mentioned savings and full dependence on your electric utility for electricity. Many recent examples in the news have shown that total dependence on your utility company is not always the best option.

Normally, customers in Oxford encounter around 1.28 outages. Usually, outages have an average duration of 127.96 minutes. However, during critical events like planned maintenance, aging infrastructure or earthquakes, these times can extend dramatically.

A solar energy system could help mitigate the effects of future outages, with or without a backup battery.

Power Outages

Currently, 0 customers are being tracked in Calhoun County.

Learn more

Customers Out:

0

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

Your Energy Needs - Larger solar panel setups come with a larger price tag, yet the cost per watt decreases as the size of the system grows. Individuals often realize that setting up a solar system that can cover their entire electric bill is useful, ensuring significant savings.

Make & Model - Solar panels and mounting equipment, just like many other products, are available in different makes and models. The contractor’s preference for system makes it essential to select a reputable installer. Buyers who choose high-quality materials generally enjoy a more favorable long-term experience.

Solar Panel Type - Monocrystalline panels have emerged as the industry standard, and for good reason. These panels are more costly, yet they generate more energy. Most installers tend to utilize panels made from this material.

Your Property - Each property and home has its own characteristics. Factors like trees, irregular terrain, or other hindrances can make the installation more challenging. Today, the most solar installers can assess your home with satellite images and incorporate these considerations in the initial cost estimate.

Labor Rates - Companies offer different pay rates to their employees, which are then reflected in the prices consumers pay. Higher reviews for work and customer service are generally associated with businesses that pay higher wages.

Permitting & Interconnection - Permitting and utility interconnection fees vary locally and will impact your installation cost. Reliable installers will factor these costs into your first 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 Oxford?

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.

Oxford, AL Solar Panel Cost FAQs

  • As recorded in October, 2024, the standard cost for solar panel installations in Oxford, AL is $3.95/W. Installing a 5 kW solar panel system in Oxford, AL will cost approximately $13,825 after applying the federal tax credit.

  • Various utility providers and government organizations in Alabama are offering 4 rebates and incentives at this time. Furthermore, the majority of people qualify for the 30% federal tax credit.

  • While paying cash provides the most savings, several financing options for solar panels exist that also make financial sense. Your preliminary quotes will usually include financing options available through installers.

  • Yes, in Oxford, AL, 5 kW solar panel systems usually pay off in 6 years, providing an average electricity cost savings of $30,877.4 over a 20-year period.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01