Solar Panel Cost Guide in Algood, TN (2024 Update)
- Algood Solar Installation Cost: $20,377
- 25-Year Savings: $13,415
- Payback Period: 18.5 Years
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Average Cost of Solar Panels in Algood
Here’s how much it might cost to install solar panels in Algood.
The average cost of a solar panel system in Algood is 4 per watt.The average Algood homeowner needs a 8.1-kilowatt system, which would cost about $20,377 with the federal tax credit, or $29,139 before the 0 tax credit is applied.
The actual price you pay can go above or below the average in Algood based on a few factors, such as the model of solar panels you choose and the solar installer you hire.For most homeowners, the upfront investment in solar power is worth paying. On average Algood homeowners see about $14,000 in savings on energy bills over 20 years.
To get a free estimate from a top solar installation company in Algood, you can click the button below.
Solar savings over time in Algood
| Year | Return on Investment |
|---|---|
| 1 years | $-18,754 |
| 3 years | $-15,508 |
| 5 years | $-12,262 |
| 7 years | $-9,016 |
| 9 years | $-5,770 |
| 11 years | $-2,524 |
| 13 years | $722 |
| 15 years | $3,968 |
| 17 years | $7,214 |
| 19 years | $10,460 |
| 21 years | $13,706 |
| 23 years | $16,952 |
| 25 years | $20,198 |
Top Solar Installers in Algood
When making the switch to solar, many homeowners prefer to use a solar company since handling can be a time-consuming project. Another perk of using a solar company is that they can help you maximize your return of investment by lowering your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you're looking for a solar installer in Algood, the EcoWatch team has organized a list of our top suggestions here:
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Algood
Factors that Affect Solar Panel Costs in Algood
The cost of installing a solar system in Algood can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,580. The kind of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Algood, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies operating in Algood, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.72 | $15,637 | $4,719 | 19.2 years |
| 8 kW | $3.65 | $20,449 | $6,693 | 18.8 years |
| 10 kW | $3.58 | $25,060 | $8,867 | 18.5 years |
| 12 kW | $3.51 | $29,471 | $11,242 | 18.1 years |
| 14 kW | $3.44 | $33,681 | $13,818 | 17.7 years |
| 16 kW | $3.37 | $37,690 | $16,594 | 17.4 years |
| 18 kW | $3.29 | $41,499 | $19,570 | 17.0 years |
| 20 kW | $3.22 | $45,108 | $22,747 | 16.6 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Algood, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Contract: Before you sign a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Algood, TN Solar Cost FAQs
What is the average cost of installing solar panels in Algood?
The average cost of solar panels in Algood is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Algood?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Algood have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.