Solar Panel Cost Guide in Morristown, TN (2024 Update)
- Morristown Solar Installation Cost: $19,875
- 25-Year Savings: $8,333
- Payback Period: 22.4 Years
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Average Cost of Solar Panels in Morristown
We break down average solar pricing in Morristown.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Morristown, the typical cost of a solar system is 4 per watt.The average Morristown homeowner needs a 7.9-kilowatt system, which would cost about $19,875 with the federal tax credit, or $28,421 before the 0 tax credit is applied.
The true price you pay can go higher or lower than the average in Morristown based on a few factors, such as the model of solar panels you choose and the solar installer you hire.Even with the significant initial cost, the average Morristown homeowner can save about $11,000 on their power bills over 20 years, which is one of the perks of solar.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Morristown
| Year | Return on Investment |
|---|---|
| 1 years | $-18,282 |
| 3 years | $-15,095 |
| 5 years | $-11,909 |
| 7 years | $-8,722 |
| 9 years | $-5,535 |
| 11 years | $-2,349 |
| 13 years | $838 |
| 15 years | $4,025 |
| 17 years | $7,211 |
| 19 years | $10,398 |
| 21 years | $13,585 |
| 23 years | $16,771 |
| 25 years | $19,958 |
Top Solar Installers in Morristown
Many homeowners opt for a solar panel installer since trying to install solar panels by yourself can be a lot of work. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our recommendations for providers in Morristown:
See all of the solar companies in Morristown
Factors that Affect Solar Panel Costs in Morristown
Though the average cost of a solar system in Morristown is $19,875, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,580.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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. Additionally, add-on products, such as solar batteries, can bring your total well above the Morristown average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Morristown, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.Though solar loans make adopting solar energy more accessible for Morristown homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Morristown, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $1,125 | 23.3 years |
| 8 kW | $3.65 | $20,449 | $1,901 | 22.9 years |
| 10 kW | $3.58 | $25,060 | $2,877 | 22.4 years |
| 12 kW | $3.51 | $29,471 | $4,054 | 22.0 years |
| 14 kW | $3.44 | $33,681 | $5,431 | 21.5 years |
| 16 kW | $3.37 | $37,690 | $7,009 | 21.1 years |
| 18 kW | $3.29 | $41,499 | $8,787 | 20.6 years |
| 20 kW | $3.22 | $45,108 | $10,766 | 20.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
EcoWatch's Morristown, TN Solar Cost FAQs
How much does it cost to install solar panels in Morristown?
This is a tough question to answer exactly, because the cost depends on a variety of 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, 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 Morristown?
Solar panels aren’t free in Morristown, 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.
Is it worth going solar in Morristown?
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 long do solar panels last in Morristown?
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 their energy production will have decreased significantly after that point. You can opt 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.