Solar Panel Cost Guide in Knoxville, IA (Mar 2023)
- Knoxville Solar Installation Cost: $18,440
- 25-Year Savings: $25,330
- Payback Period: 10.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Knoxville
Find out what the average cost of a solar system is in Knoxville.
In Knoxville, solar panels cost about 2.77 per watt on average. Since a 9.5-kW system is needed to cover the energy usage of a typical home in Knoxville, the average price of going solar will be about $18,440 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Knoxville homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $17,000 on power bills over 20 years, many homeowners in Knoxville find investing in solar can pay off big.
You can click the button below to get connected with a pre-vetted solar company in Knoxville for a quote for your home.
Solar savings over time in Knoxville
| Year | Return on Investment |
|---|---|
| 1 years | $-16,689 |
| 3 years | $-13,187 |
| 5 years | $-9,686 |
| 7 years | $-6,184 |
| 9 years | $-2,683 |
| 11 years | $819 |
| 13 years | $4,321 |
| 15 years | $7,822 |
| 17 years | $11,324 |
| 19 years | $14,826 |
| 21 years | $18,327 |
| 23 years | $21,829 |
| 25 years | $25,330 |
Top Solar Installers in Knoxville
Although you can install solar panels on your own, it requires extra time and know-how. Because of that, the majority of homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
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 Knoxville:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Knoxville
Factors that Affect Solar Panel Costs in Knoxville
There are many factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy 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 about $2,770. 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 have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total 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
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Knoxville, you'll have many options to choose from, but each comes at various price points for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $2.88 | $12,099 | $15,521 | 11.0 years |
| 8 kW | $2.83 | $15,822 | $21,005 | 10.7 years |
| 10 kW | $2.77 | $19,390 | $26,644 | 10.5 years |
| 12 kW | $2.71 | $22,803 | $32,438 | 10.3 years |
| 14 kW | $2.66 | $26,060 | $38,387 | 10.1 years |
| 16 kW | $2.60 | $29,163 | $44,492 | 9.9 years |
| 18 kW | $2.55 | $32,110 | $50,751 | 9.7 years |
| 20 kW | $2.49 | $34,902 | $57,166 | 9.5 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and 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 considerable role in the company you choose.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Knoxville, IA Solar Cost FAQs
How much does it cost to install solar panels in Knoxville?
The average cost of solar panels in Knoxville is about $13,850 for a 5-kW system and $27,700 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 consume.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
Although 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.