Solar Panel Cost Guide in Oak Ridge, FL (2024 Update)
- Oak Ridge Solar Installation Cost: $12,301
- 25-Year Savings: $21,624
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in Oak Ridge
Let’s have a look at the average cost of solar in Oak Ridge.
While the national average of solar panels is $2.66 per watt, solar panels in Oak Ridge generally cost around 3.Because a 5.5-kW system is needed to cover the energy consumption of a typical home in Oak Ridge, the average price of going solar will be about $12,301 after claiming the federal solar tax credit of 0.
These figures are just averages, and the cost of going solar for you may differ based on your specific situation and what company you go with.Even with the high upfront cost, the average Oak Ridge homeowner can save about $22,000 on their power bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar company in Oak Ridge for a quote for your home.
Solar savings over time in Oak Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-10,526 |
| 3 years | $-6,977 |
| 5 years | $-3,427 |
| 7 years | $122 |
| 9 years | $3,672 |
| 11 years | $7,222 |
| 13 years | $10,771 |
| 15 years | $14,321 |
| 17 years | $17,870 |
| 19 years | $21,420 |
| 21 years | $24,969 |
| 23 years | $28,519 |
| 25 years | $32,069 |
Top Solar Installers in Oak Ridge
Installing solar panels on your own can be a difficult project, which is why using a solar installer is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you choose which one will be best for your home.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Oak Ridge
Factors that Affect Solar Panel Costs in Oak Ridge
For many Oak Ridge homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Oak Ridge, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,210. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Oak Ridge, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Oak Ridge have solar loans, which reduce your upfront costs of installing solar.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’re only able to 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 APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating in Oak Ridge, and each can charge varying amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.34 | $14,021 | $20,304 | 10.2 years |
| 8 kW | $3.27 | $18,336 | $27,432 | 10.0 years |
| 10 kW | $3.21 | $22,470 | $34,739 | 9.8 years |
| 12 kW | $3.15 | $26,425 | $42,226 | 9.6 years |
| 14 kW | $3.08 | $30,200 | $49,893 | 9.4 years |
| 16 kW | $3.02 | $33,795 | $57,740 | 9.2 years |
| 18 kW | $2.95 | $37,210 | $65,766 | 9.0 years |
| 20 kW | $2.89 | $40,446 | $73,972 | 8.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will carry different brands and types 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 understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Oak Ridge, FL Solar Cost FAQs
How much does it cost to install solar panels in Oak Ridge?
The average cost of solar panels in Oak Ridge is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Oak Ridge?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly 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 should be disposed of 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.