Solar Panel Cost Guide in Loudon, TN (2024 Update)
- Loudon Solar Installation Cost: $19,710
- 25-Year Savings: $13,671
- Payback Period: 18.0 Years
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Average Cost of Solar Panels in Loudon
We break down average solar pricing in Loudon.
The average cost of a solar system in Loudon is 4 per watt.The average solar panel system size in Loudon is around 7.9 kilowatts, meaning a cost of about $19,710 for a solar installation, or $28,185 before the 0 federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Loudon based on a few factors, such as the model of solar panels you choose and the solar company you hire.With typical savings of about $14,000 on electricity bills over 20 years, many homeowners in Loudon find installing solar panels has a decent ROI.
To get a free estimate from a vetted solar installer in Loudon, you can click the button below.
Solar savings over time in Loudon
| Year | Return on Investment |
|---|---|
| 1 years | $-18,096 |
| 3 years | $-14,868 |
| 5 years | $-11,640 |
| 7 years | $-8,413 |
| 9 years | $-5,185 |
| 11 years | $-1,957 |
| 13 years | $1,271 |
| 15 years | $4,499 |
| 17 years | $7,727 |
| 19 years | $10,955 |
| 21 years | $14,183 |
| 23 years | $17,411 |
| 25 years | $20,639 |
Top Solar Installers in Loudon
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with an installer can make swapping over to solar power much easier. Also, if you’d like to maximize your investment in solar energy, using a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
If you’d like to switch to solar energy but still aren’t sure which solar panel 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 Loudon
Factors that Affect Solar Panel Costs in Loudon
There are a number of factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,580.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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 over time on your electric bills. In addition, extra products, such as solar batteries, can bring your total well above the Loudon average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Loudon is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies undercut 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 | $5,250 | 18.7 years |
| 8 kW | $3.65 | $20,449 | $7,400 | 18.4 years |
| 10 kW | $3.58 | $25,060 | $9,752 | 18.0 years |
| 12 kW | $3.51 | $29,471 | $12,303 | 17.6 years |
| 14 kW | $3.44 | $33,681 | $15,056 | 17.3 years |
| 16 kW | $3.37 | $37,690 | $18,008 | 16.9 years |
| 18 kW | $3.29 | $41,499 | $21,162 | 16.6 years |
| 20 kW | $3.22 | $45,108 | $24,515 | 16.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
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 Loudon, TN Solar Cost FAQs
How much does it cost to install solar panels in Loudon?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Loudon?
You can’t get solar panels for free in Loudon. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Loudon?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 install between 20 and 35 panels to account for 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.