Solar Panel Cost Guide in Farragut, TN (2024 Update)
- Farragut Solar Installation Cost: $19,720
- 25-Year Savings: $10,476
- Payback Period: 20.4 Years
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Average Cost of Solar Panels in Farragut
Let’s take a look at the average cost of solar in Farragut.
Although the national average of solar panels is $2.66 per watt, solar panels in Farragut typically cost about 4.The average solar panel system size in Farragut is around 7.9 kilowatts, meaning a cost of about $19,720 for a solar installation, or $28,200 before the 0 federal solar tax credit is applied.
The true price you pay can be above or below the average in Farragut depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.With typical savings of about $12,000 on energy bills over 20 years, many homeowners in Farragut find investing in solar has a decent ROI.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Farragut
| Year | Return on Investment |
|---|---|
| 1 years | $-18,173 |
| 3 years | $-15,079 |
| 5 years | $-11,986 |
| 7 years | $-8,892 |
| 9 years | $-5,798 |
| 11 years | $-2,704 |
| 13 years | $390 |
| 15 years | $3,483 |
| 17 years | $6,577 |
| 19 years | $9,671 |
| 21 years | $12,765 |
| 23 years | $15,859 |
| 25 years | $18,952 |
Top Solar Installers in Farragut
Putting up solar panels yourself can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our recommendations for providers nearby:
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 Farragut
Factors that Affect Solar Panel Costs in Farragut
Although the average cost of a solar system in Farragut is $19,720, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 greater 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 Farragut to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can influence the cost. Farragut’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Farragut have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $2,808 | 21.2 years |
| 8 kW | $3.65 | $20,449 | $4,145 | 20.8 years |
| 10 kW | $3.58 | $25,060 | $5,683 | 20.4 years |
| 12 kW | $3.51 | $29,471 | $7,421 | 20.0 years |
| 14 kW | $3.44 | $33,681 | $9,359 | 19.6 years |
| 16 kW | $3.37 | $37,690 | $11,498 | 19.2 years |
| 18 kW | $3.29 | $41,499 | $13,838 | 18.7 years |
| 20 kW | $3.22 | $45,108 | $16,378 | 18.3 years |
How to Save on Solar Panels
There are many companies to choose from in Farragut, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Farragut, TN Solar Cost FAQs
What is the average cost of installing solar panels in Farragut?
The average cost of solar panels in Farragut 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Farragut?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels do I need 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 buy between 20 and 35 panels to cover 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.