Solar Panel Cost Guide in Covington, TN (2024 Update)
- Covington Solar Installation Cost: $19,373
- 25-Year Savings: $11,916
- Payback Period: 19.1 Years
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Average Cost of Solar Panels in Covington
Here’s how much it might cost to install solar panels in Covington.
In Covington, solar panels cost about 4 per watt on average.Because a 7.7-kW system is needed to cover the energy consumption of a typical home in Covington, the average price of going solar will be about $19,373 after claiming the federal solar tax credit of 0.
These figures are only estimates, and your own solar costs will differ based on the amount of energy your home requires and what company you go with.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Covington can save about $13,000 on their energy bills over 20 years.
To get a free estimate from a vetted solar installation company in Covington, you can click the button below.
Solar savings over time in Covington
| Year | Return on Investment |
|---|---|
| 1 years | $-17,865 |
| 3 years | $-14,848 |
| 5 years | $-11,832 |
| 7 years | $-8,815 |
| 9 years | $-5,798 |
| 11 years | $-2,782 |
| 13 years | $235 |
| 15 years | $3,252 |
| 17 years | $6,268 |
| 19 years | $9,285 |
| 21 years | $12,302 |
| 23 years | $15,318 |
| 25 years | $18,335 |
Top Solar Installers in Covington
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make swapping over to solar power much easier. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Covington
Factors that Affect Solar Panel Costs in Covington
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Covington: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $3,580 per kilowatt in Covington.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Covington to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s important to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact the cost. Covington’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $4,069 | 19.8 years |
| 8 kW | $3.65 | $20,449 | $5,826 | 19.5 years |
| 10 kW | $3.58 | $25,060 | $7,784 | 19.1 years |
| 12 kW | $3.51 | $29,471 | $9,942 | 18.7 years |
| 14 kW | $3.44 | $33,681 | $12,300 | 18.3 years |
| 16 kW | $3.37 | $37,690 | $14,859 | 17.9 years |
| 18 kW | $3.29 | $41,499 | $17,619 | 17.5 years |
| 20 kW | $3.22 | $45,108 | $20,579 | 17.2 years |
How to Save on Solar Panels
There are numerous companies to choose from in Covington, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of 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 positive reviews from previous customers.
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 Covington, TN Solar Cost FAQs
How much does it cost to install solar panels in Covington?
The average cost of solar panels in Covington is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in Covington?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Covington?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.