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

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

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How much do solar panels cost in Saks CDP, AL in 2024?

To go solar costs approximately $3.95 per watt in Saks CDP, AL in the month of October, 2024.

Expect the price to be $3,950, on average, for every 1 kW (or 1000 watts) of solar energy your solar panel system can produce. In Saks CDP, you will spend approximately $13,825 for a 5 kW solar system once the 30% federal income tax credit is factored in. Don't overlook, a more powerful system may be essential to fully meet your energy demands.

To the left,choose your area to view the typical roof size and the average maximum capacity of solar panels for homes in your county. Shown below is a summary 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.
Saks CDP: $13,825US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Saks CDP: 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.
Saks CDP: $24,969US Average: $15,784

Solar Potential in Saks CDP

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

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

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

The average electric bill for an energy consumer in Saks CDP is $186.33 and the average number of kWh used each month per household is 1,142. This statistic also encompasses data from apartments and smaller residences, which typically have less energy consumption.

Saks CDP, AL's electricity rate averages 16.32¢ per kWh in October 2024.

To account for the electricity requirements of a typical consumer in Saks CDP, a solar power system of 10 kW or higher is essential. Upfront, a 10 kW solar installation is around $39,500, with the federal tax credit providing 30% back, lowering the cost to $27,650.

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Average solar panel costs by system size in Saks CDP

On your left, you will see a thorough cost analysis for multiple solar panel system sizes set up in Saks CDP. As expected, with a larger solar system, there will be a larger initial investment, but the benefits are more electricity savings and more substantial income tax credits.

Check the solar panel cost calculator to the right and below to see the cost and benefit details based on an average $186.33 electric bill in Saks CDP. If you want tailored results, adjust the $186.33 to your usual electricity bill amount.

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 3.7 tons a year
  • Equivalent to planting 170 trees a year
  • Equivalent to driving 9,163 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 4.32 tons a year
  • Equivalent to planting 198 trees a year
  • Equivalent to driving 10,690 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 4.94 tons a year
  • Equivalent to planting 227 trees a year
  • Equivalent to driving 12,217 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 5.55 tons a year
  • Equivalent to planting 255 trees a year
  • Equivalent to driving 13,744 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 5.7 tons a year
  • Equivalent to planting 262 trees a year
  • Equivalent to driving 14,100 mi less a year

Saks CDP Solar Panel Installation Incentives & Rebates | 2024

If you run a small business or farm in a rural area, you could receive REAP Grant support that covers 80% to 100% of your solar or wind turbine installation 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 renders switching to solar energy a practical choice in many regions of the U.S. Furthermore, numerous state and local programs aim to promote further adoption of solar energy.

There are 4 solar incentive and rebate initiatives in Alabama, provided by various utilities and governmental 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 planning to remain in their homes after the solar system's payback period, installing solar panels is a smart choice in Saks CDP. A 5 kW system in Saks CDP, AL will help you save the average homeowner, on average, $30,894.2 over a 20 period and the average break even point is 6 years.

The cost of not having solar panels in Saks CDP, AL

In addition to missing out on the savings mentioned above, not having solar panels or an alternative backup energy source results in total reliance on your electric utility for electricity. Several recent news reports have illustrated that total reliance on your utility is not always ideal.

Annually, customers in Saks CDP deal with about 1.12 outages. The average length of an outage is 110.26 minutes. However, during significant events such as landslides, grid management errors, or vandalism, this duration can grow considerably.

Even if it is without a backup battery, a solar panel system can reduce the stress of possible future outages.

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 Saks CDP, AL?

Your Energy Needs - The upfront cost for larger solar panel systems is higher, but the cost per watt reduces as the system size expands. A lot of people find it useful to install a solar energy system that can replace their entire electric bill. This ensures optimal savings.

Make & Model - Similar to other industries, the solar energy sector includes a range of solar panel brands and designs. The system preferences of your chosen installer can make it important to pick a highly rated company. The use of high-quality models can greatly better the long-term experience for buyers.

Solar Panel Type - Monocrystalline panels are widely recognized as the industry standard, and for valid reasons. They are associated with a higher price, but they produce more energy. Most solar panel installers opt for this type of material.

Your Property - Every property and home is distinct. Sloping terrain, trees, or other barriers can make the installation more difficult. Currently, many solar installers are able to utilize satellite images to evaluate your home and incorporate these aspects for the first cost estimate.

Labor Rates - The wages that companies give their employees vary, and these expenses are eventually passed on in consumer prices. Businesses typically receive higher reviews for their work and customer service when they pay higher wages.

Permitting & Interconnection - Your installation cost will be influenced by area-specific permitting and utility interconnection fees. Reputable local installers will integrate these numbers into your preliminary quotes to prevent any surprises.

See what solar panels cost in other AL cities

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Who are the best solar installers in Saks CDP?

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.

Saks CDP, AL Solar Panel Cost FAQs

  • The cost per watt for solar panels in Saks CDP, AL during October of 2024 averages $3.95/W. After federal tax credits, the installation of a 5 kW solar panel system in Saks CDP, AL is estimated to cost $13,825.

  • Various utility providers and government organizations in Alabama are offering 4 rebates and incentives at this time. Moreover, nearly everyone is eligible for the 30% federal income tax credit.

  • Opting to pay in cash provides the highest savings, but there are now numerous financing options for solar panels that make financial sense. Installers typically partner with financing companies and will include this information into your initial quotes.

  • Yes, in Saks CDP, AL, the average payback period for 5 kW solar panels is 6 years, resulting in average electricity savings of $30,894.2 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01