Solar Panel Cost Guide in Alcoa, TN (2024 Update)
- Alcoa Solar Installation Cost: $20,227
- 25-Year Savings: $10,075
- Payback Period: 20.9 Years
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Average Cost of Solar Panels in Alcoa
Find out how much it might cost to make the switch to solar in Alcoa.
While the national average of solar panels is $2.66 per watt, solar panels in Alcoa generally cost about 4.The average solar panel system size in Alcoa is around 8.1 kilowatts, meaning a cost of about $20,227 for a solar installation, or $28,925 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Alcoa 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.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $12,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Alcoa
| Year | Return on Investment |
|---|---|
| 1 years | $-18,708 |
| 3 years | $-15,669 |
| 5 years | $-12,631 |
| 7 years | $-9,592 |
| 9 years | $-6,554 |
| 11 years | $-3,515 |
| 13 years | $-477 |
| 15 years | $2,561 |
| 17 years | $5,600 |
| 19 years | $8,638 |
| 21 years | $11,677 |
| 23 years | $14,715 |
| 25 years | $17,754 |
Top Solar Installers in Alcoa
When making the switch to solar, many homeowners prefer to hire a solar installation company since DIY solar panel installation can be a difficult project. Local solar installers can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Alcoa
Factors that Affect Solar Panel Costs in Alcoa
The cost of installing a solar system in Alcoa can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
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 electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,580 per kilowatt in Alcoa.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Alcoa, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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 installers in Alcoa have solar loans, which reduce your upfront costs of installing a solar system.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installer you select will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $2,310 | 21.8 years |
| 8 kW | $3.65 | $20,449 | $3,481 | 21.4 years |
| 10 kW | $3.58 | $25,060 | $4,852 | 20.9 years |
| 12 kW | $3.51 | $29,471 | $6,424 | 20.5 years |
| 14 kW | $3.44 | $33,681 | $8,197 | 20.1 years |
| 16 kW | $3.37 | $37,690 | $10,170 | 19.7 years |
| 18 kW | $3.29 | $41,499 | $12,343 | 19.3 years |
| 20 kW | $3.22 | $45,108 | $14,717 | 18.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The model of solar panel you’d like to get plays a role in which company you should opt for, since different companies offer different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Alcoa, TN Solar Cost FAQs
How much does it cost to install solar panels in Alcoa?
The average cost of solar panels in Alcoa is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Alcoa?
You can’t get solar panels for free in Alcoa. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.