Solar Panel Cost Guide in Oak Ridge, NC (2023 Update)
- Oak Ridge Solar Installation Cost: $12,395
- 25-Year Savings: $18,273
- Payback Period: 10.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Oak Ridge
See how much it might cost to make the switch to solar in Oak Ridge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oak Ridge, the average cost of solar panels is 2.54 per watt. Because a 7.0-kW system is needed to cover the energy costs of a typical home in Oak Ridge, the average price of going solar will be about $12,393 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar system you want, your solar contractor and more. Many homeowners find adopting solar power is a sound investment. The average homeowner in Oak Ridge can save about $17,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Oak Ridge for a quote for your home.
Solar savings over time in Oak Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-12,293 |
| 3 years | $-12,088 |
| 5 years | $-11,884 |
| 7 years | $-11,679 |
| 9 years | $-11,475 |
| 11 years | $-11,270 |
| 13 years | $-11,066 |
| 15 years | $-10,861 |
| 17 years | $-10,657 |
| 19 years | $-10,453 |
| 21 years | $-10,248 |
| 23 years | $-10,044 |
| 25 years | $-9,839 |
Top Solar Installers in Oak Ridge
Although you can install solar panels yourself, it takes extra effort and knowledge. Because of that, almost all homeowners choose a solar panel installer. The expertise that solar installers offer can be invaluable as well, especially if you don't quite know what kind of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't sure which solar panel company to go with, here are our recommendations for providers in Oak Ridge:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Oak Ridge
Factors that Affect Solar Panel Costs in Oak Ridge
Though the average cost of a solar system in Oak Ridge is $12,393, your final cost may be above or below the average. There are quite a few factors that can have a significant 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 significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,540 per kilowatt in Oak Ridge. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Oak Ridge, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Oak Ridge homeowners opt to finance their solar panel systems to make paying for 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you pick will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $15,300 | 10.5 years |
| 8 kW | $2.59 | $14,508 | $20,685 | 10.3 years |
| 10 kW | $2.54 | $17,780 | $26,211 | 10.1 years |
| 12 kW | $2.49 | $20,909 | $31,881 | 9.9 years |
| 14 kW | $2.44 | $23,896 | $37,692 | 9.7 years |
| 16 kW | $2.39 | $26,741 | $43,645 | 9.5 years |
| 18 kW | $2.34 | $29,444 | $49,741 | 9.3 years |
| 20 kW | $2.29 | $32,004 | $55,979 | 9.1 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Oak Ridge, NC Solar Cost FAQs
What is the average cost of installing solar panels in Oak Ridge?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Oak Ridge have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.