Solar Panel Cost Guide in Erwin, TN (2024 Update)
- Erwin Solar Installation Cost: $20,374
- 25-Year Savings: $23,103
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Erwin
We go over average solar pricing in Erwin.
In Erwin, solar panels cost about 4 per watt on average.The average solar panel system size in Erwin is around 8.1 kilowatts, meaning a cost of about $20,374 for a solar installation, or $29,135 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at 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 Erwin for a quote for your home.
Solar savings over time in Erwin
| Year | Return on Investment |
|---|---|
| 1 years | $-18,850 |
| 3 years | $-15,802 |
| 5 years | $-12,754 |
| 7 years | $-9,707 |
| 9 years | $-6,659 |
| 11 years | $-3,611 |
| 13 years | $-563 |
| 15 years | $2,485 |
| 17 years | $5,533 |
| 19 years | $8,580 |
| 21 years | $11,628 |
| 23 years | $14,676 |
| 25 years | $17,724 |
Top Solar Installers in Erwin
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make converting to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar contractor too, which can save you more money over time.
If you're searching for a solar company in Erwin, we've 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 Erwin
Factors that Affect Solar Panel Costs in Erwin
There are a number of factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Erwin average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Erwin, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Erwin is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that offer a range of services for different budgets.You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $11,871 | 14.2 years |
| 8 kW | $3.65 | $20,449 | $16,228 | 13.9 years |
| 10 kW | $3.58 | $25,060 | $20,787 | 13.7 years |
| 12 kW | $3.51 | $29,471 | $25,546 | 13.4 years |
| 14 kW | $3.44 | $33,681 | $30,505 | 13.1 years |
| 16 kW | $3.37 | $37,690 | $35,665 | 12.8 years |
| 18 kW | $3.29 | $41,499 | $41,025 | 12.6 years |
| 20 kW | $3.22 | $45,108 | $46,586 | 12.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- 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 substantial role in the company you hire.
- Reputation: Your solar installer should have a sound reputation as a company and have proven 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 good 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 Erwin, TN Solar Cost FAQs
What is the average cost of installing solar panels in Erwin?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Erwin?
A solar panel system isn’t free in Erwin, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Erwin is currently $200,027, so you can expect a value of about $8,201 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Erwin is a fruitful investment.
How long do solar panels last in Erwin?
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 how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use 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.