Solar Panel Cost Guide in Oak Ridge, NC (2024 Update)
- Oak Ridge Solar Installation Cost: $17,128
- 25-Year Savings: $18,273
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Oak Ridge
We break down average solar pricing in Oak Ridge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oak Ridge, the typical cost of a solar system is 4 per watt.The average Oak Ridge homeowner needs a 7.0-kilowatt system, which would cost about $17,128 with the federal tax credit, or $24,493 before the 0 tax credit is applied.
The actual price you pay can go above or below the average in Oak Ridge depending on several factors, such as the type of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Oak Ridge see about $17,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Oak Ridge for a quote for your home.
Solar savings over time in Oak Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-15,806 |
| 3 years | $-13,162 |
| 5 years | $-10,518 |
| 7 years | $-7,873 |
| 9 years | $-5,229 |
| 11 years | $-2,585 |
| 13 years | $59 |
| 15 years | $2,704 |
| 17 years | $5,348 |
| 19 years | $7,992 |
| 21 years | $10,636 |
| 23 years | $13,281 |
| 25 years | $15,925 |
Top Solar Installers in Oak Ridge
When switching to solar energy, many homeowners opt to use a solar installation company since handling can be a time-consuming project. Plus, if you’d like to maximize your investment in solar power, using a solar installer can help with that as well. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Oak Ridge:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Oak Ridge
Factors that Affect Solar Panel Costs in Oak Ridge
There are several factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Oak Ridge average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Oak Ridge, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can impact the cost. Oak Ridge’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.65 | $15,332 | $11,063 | 14.5 years |
| 8 kW | $3.58 | $20,049 | $15,144 | 14.2 years |
| 10 kW | $3.51 | $24,570 | $19,421 | 14.0 years |
| 12 kW | $3.44 | $28,894 | $23,895 | 13.7 years |
| 14 kW | $3.37 | $33,022 | $28,566 | 13.4 years |
| 16 kW | $3.30 | $36,953 | $33,433 | 13.1 years |
| 18 kW | $3.23 | $40,688 | $38,497 | 12.8 years |
| 20 kW | $3.16 | $44,226 | $43,757 | 12.6 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: When reading through your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: When making the switch to solar power, it’s essential to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the completion timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Oak Ridge, NC Solar Cost FAQs
How much does it cost to install solar panels in Oak Ridge?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,550 for a 5-kW system and $35,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will solar panels impact my property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.