Solar Panel Cost Guide in Elizabethton, TN (2023 Update)
- Elizabethton Solar Installation Cost: $14,397
- 25-Year Savings: $21,000
- Payback Period: 10.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Elizabethton
Here's how much it might cost to install solar panels in Elizabethton.
In Elizabethton, solar panels cost about 2.49 per watt on average. To account for the typical energy usage of the average home in Elizabethton, most homeowners require a 8.3-kilowatt system. Using the figure above, a solar installation costs around $14,397, or $20,588 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what installation company you go with. Even with the high initial cost, the average Elizabethton homeowner can save around $16,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a vetted solar installer in your area for a customized estimate.
Solar savings over time in Elizabethton
| Year | Return on Investment |
|---|---|
| 1 years | $-12,981 |
| 3 years | $-10,150 |
| 5 years | $-7,318 |
| 7 years | $-4,486 |
| 9 years | $-1,654 |
| 11 years | $1,177 |
| 13 years | $4,009 |
| 15 years | $6,841 |
| 17 years | $9,673 |
| 19 years | $12,504 |
| 21 years | $15,336 |
| 23 years | $18,168 |
| 25 years | $21,000 |
Top Solar Installers in Elizabethton
Trying to install solar panels yourself can be a stressful undertaking, which is why getting a solar installer is a good option for many homeowners. A solar company can also help save you money over time by providing warranties, repairs and part replacements.
If you're searching for a solar company in Elizabethton, we've put together a list of our top suggestions here:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Elizabethton
Factors that Affect Solar Panel Costs in Elizabethton
The cost of installing a solar system in Elizabethton can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel 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 nearly $2,490. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment 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 out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's wise to factor 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Elizabethton is the company you get to install your solar system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services at different price points. Additionally, some companies in Elizabethton are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.59 | $10,876 | $14,838 | 10.6 years |
| 8 kW | $2.54 | $14,223 | $20,063 | 10.4 years |
| 10 kW | $2.49 | $17,430 | $25,427 | 10.2 years |
| 12 kW | $2.44 | $20,498 | $30,931 | 10.0 years |
| 14 kW | $2.39 | $23,426 | $36,574 | 9.8 years |
| 16 kW | $2.34 | $26,215 | $42,357 | 9.6 years |
| 18 kW | $2.29 | $28,864 | $48,279 | 9.4 years |
| 20 kW | $2.24 | $31,374 | $54,340 | 9.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated 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 satisfied reviews from previous customers.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Elizabethton, TN Solar Cost FAQs
What is the average cost of installing solar panels in Elizabethton?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,450 for a 5-kW system and $24,900 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact the value of my home?
Solar panels can increase your property's value remarkably 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?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.