Solar Panel Cost Guide in Oak Ridge, FL (2023 Update)
- Oak Ridge Solar Installation Cost: $9,695
- 25-Year Savings: $21,624
- Payback Period: 7.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oak Ridge
We break down average solar pricing in Oak Ridge.
Although the national average of solar panels is $2.66 per watt, solar panels in Oak Ridge generally cost around 2.53. The average solar panel system size in Oak Ridge is around 5.5 kilowatts, meaning a cost of about $9,687 for a solar installation, or $13,852 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what company you go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Oak Ridge can save around $22,000 on their electricity bills over 20 years.
To get a free quote from a highly rated solar company in Oak Ridge, you can click the button below.
Solar savings over time in Oak Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-7,920 |
| 3 years | $-4,371 |
| 5 years | $-821 |
| 7 years | $2,728 |
| 9 years | $6,278 |
| 11 years | $9,827 |
| 13 years | $13,377 |
| 15 years | $16,927 |
| 17 years | $20,476 |
| 19 years | $24,026 |
| 21 years | $27,575 |
| 23 years | $31,125 |
| 25 years | $34,674 |
Top Solar Installers in Oak Ridge
Many homeowners opt for a solar panel company since trying to install solar panels by yourself can be hard. Companies can also offer access to quality options of the best solar panels and help you decide which one will be right for you.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Oak Ridge
Factors that Affect Solar Panel Costs in Oak Ridge
Although the average cost of a solar system in Oak Ridge is $9,687, your final cost may differ. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require 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 $2,530. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Oak Ridge, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, 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 more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you select will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.63 | $11,051 | $23,274 | 8.0 years |
| 8 kW | $2.58 | $14,451 | $31,316 | 7.9 years |
| 10 kW | $2.53 | $17,710 | $39,499 | 7.7 years |
| 12 kW | $2.48 | $20,827 | $47,824 | 7.6 years |
| 14 kW | $2.43 | $23,802 | $56,291 | 7.4 years |
| 16 kW | $2.38 | $26,636 | $64,899 | 7.3 years |
| 18 kW | $2.33 | $29,328 | $73,649 | 7.1 years |
| 20 kW | $2.28 | $31,878 | $82,540 | 7.0 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- 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 adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Oak Ridge, FL Solar Cost FAQs
What is the average cost of installing solar panels in Oak Ridge?
The average cost of solar panels in Oak Ridge is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Oak Ridge?
You can't get solar panels for free in Oak Ridge. 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.
Does Oak Ridge have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even 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 the amount of energy they produce 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.