Solar Panel Cost Guide in Knoxville, TN (2024 Update)
- Knoxville Solar Installation Cost: $19,730
- 25-Year Savings: $1
- Payback Period: 36.0 Years
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Average Cost of Solar Panels in Knoxville
We go over average solar pricing in Knoxville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Knoxville, the average cost of a solar system is 4 per watt.Using this figure, a typical 7.9-kW system would cost about $19,730 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar system you choose, your solar contractor and more.With typical savings of about $7,000 on electricity bills over 20 years, many homeowners in Knoxville find going solar can pay off big.
Click the button below to get connected to a highly rated solar installer in your area for a personalized estimate.
Solar savings over time in Knoxville
| Year | Return on Investment |
|---|---|
| 1 years | $-18,662 |
| 3 years | $-16,526 |
| 5 years | $-14,390 |
| 7 years | $-12,255 |
| 9 years | $-10,119 |
| 11 years | $-7,983 |
| 13 years | $-5,847 |
| 15 years | $-3,712 |
| 17 years | $-1,576 |
| 19 years | $560 |
| 21 years | $2,696 |
| 23 years | $4,831 |
| 25 years | $6,967 |
Top Solar Installers in Knoxville
Many homeowners choose to use a solar panel installer since trying to put up solar panels on your own can be challenging. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Knoxville
Factors that Affect Solar Panel Costs in Knoxville
The cost of installing a solar system in Knoxville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Knoxville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $3,580 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Knoxville to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.However, the interest on solar loans also adds to your total costs, so it’s crucial to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also fits within your budget.
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 | $-5,206 | 37.5 years |
| 8 kW | $3.65 | $20,449 | $-6,540 | 36.8 years |
| 10 kW | $3.58 | $25,060 | $-7,674 | 36.0 years |
| 12 kW | $3.51 | $29,471 | $-8,607 | 35.3 years |
| 14 kW | $3.44 | $33,681 | $-9,340 | 34.6 years |
| 16 kW | $3.37 | $37,690 | $-9,872 | 33.9 years |
| 18 kW | $3.29 | $41,499 | $-10,204 | 33.2 years |
| 20 kW | $3.22 | $45,108 | $-10,335 | 32.4 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 models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated 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 past customers.
EcoWatch's Knoxville, TN Solar Cost FAQs
How much does it cost to install solar panels in Knoxville?
The average cost of solar panels in Knoxville 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 things like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Knoxville?
Solar panels aren’t free in Knoxville, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is going solar worth it?
Solar panels can be a great investment for lots 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 reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.