Solar Panel Cost Guide in Erwin, TN (2024 Update)
- Erwin Solar Installation Cost: $20,374
- 25-Year Savings: $23,103
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Erwin
We go over average solar pricing in Erwin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Erwin, the average cost of solar panels is 4 per watt.Because a 8.1-kW system is needed to cover the energy costs of a typical home in Erwin, the average price of going solar will be about $20,374 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what installation company you go with.But, after you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Erwin
| Year | Return on Investment |
|---|---|
| 1 years | $-18,850 |
| 3 years | $-15,802 |
| 5 years | $-12,754 |
| 7 years | $-9,707 |
| 9 years | $-6,659 |
| 11 years | $-3,611 |
| 13 years | $-563 |
| 15 years | $2,485 |
| 17 years | $5,533 |
| 19 years | $8,580 |
| 21 years | $11,628 |
| 23 years | $14,676 |
| 25 years | $17,724 |
Top Solar Installers in Erwin
Although it's possible to install solar panels on your own, it takes extra time and expertise. That's one of the reasons the majority of homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Erwin:
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 Erwin
Factors that Affect Solar Panel Costs in Erwin
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Erwin: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you want for your solar system can increase or decrease 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 more savings over time. Plus, 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 difficult, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you select will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for and also is within your budget.
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 | $11,871 | 14.2 years |
| 8 kW | $3.65 | $20,449 | $16,228 | 13.9 years |
| 10 kW | $3.58 | $25,060 | $20,787 | 13.7 years |
| 12 kW | $3.51 | $29,471 | $25,546 | 13.4 years |
| 14 kW | $3.44 | $33,681 | $30,505 | 13.1 years |
| 16 kW | $3.37 | $37,690 | $35,665 | 12.8 years |
| 18 kW | $3.29 | $41,499 | $41,025 | 12.6 years |
| 20 kW | $3.22 | $45,108 | $46,586 | 12.3 years |
How to Save on Solar Panels
There are a large number of companies available in Erwin, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Erwin, TN Solar Cost FAQs
What is the average cost of installing solar panels in Erwin?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Erwin?
You can’t get solar panels for free in Erwin. However, you may still be able to afford 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.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value 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 long do solar panels last in Erwin?
Although 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 how much energy they produce will have decreased significantly after that point. You can 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.