Solar Panel Cost Guide in Wildwood Lake, TN (2024 Update)
- Wildwood Lake Solar Installation Cost: $19,618
- 25-Year Savings: $12,462
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Wildwood Lake
See how much it might cost to make the switch to solar in Wildwood Lake.
The average cost of a solar system in Wildwood Lake is 4 per watt.To cover the typical energy needs of the average home in Wildwood Lake, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs around $19,618, or $28,054 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar system you want to get, your solar contractor and more.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Wildwood Lake can save around $13,000 on their energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Wildwood Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-18,091 |
| 3 years | $-15,037 |
| 5 years | $-11,983 |
| 7 years | $-8,930 |
| 9 years | $-5,876 |
| 11 years | $-2,822 |
| 13 years | $232 |
| 15 years | $3,286 |
| 17 years | $6,339 |
| 19 years | $9,393 |
| 21 years | $12,447 |
| 23 years | $15,501 |
| 25 years | $18,555 |
Top Solar Installers in Wildwood Lake
Many homeowners choose to hire a solar panel installer since trying to put up solar panels 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 you can benefit from and by providing warranties and repairs.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Wildwood Lake:
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 Wildwood Lake
Factors that Affect Solar Panel Costs in Wildwood Lake
Even though the average cost of a solar system in Wildwood Lake is $19,618, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,580 per kilowatt in Wildwood Lake.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Wildwood Lake, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Wildwood Lake, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $4,372 | 19.5 years |
| 8 kW | $3.65 | $20,449 | $6,230 | 19.2 years |
| 10 kW | $3.58 | $25,060 | $8,288 | 18.8 years |
| 12 kW | $3.51 | $29,471 | $10,548 | 18.4 years |
| 14 kW | $3.44 | $33,681 | $13,007 | 18.0 years |
| 16 kW | $3.37 | $37,690 | $15,667 | 17.7 years |
| 18 kW | $3.29 | $41,499 | $18,528 | 17.3 years |
| 20 kW | $3.22 | $45,108 | $21,589 | 16.9 years |
How to Save on Solar Panels
The solar company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
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 Wildwood Lake, TN Solar Cost FAQs
How much does it cost to install solar panels in Wildwood Lake?
The average cost of solar panels in Wildwood Lake 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 like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wildwood Lake is currently $332,883, which means you can look forward to a value of about $13,648 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Wildwood Lake is a fruitful investment.
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 how much sunlight your roof gets. You can 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 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.