Solar Panel Cost Guide in Farragut, TN (2024 Update)
- Farragut Solar Installation Cost: $19,720
- 25-Year Savings: $10,476
- Payback Period: 20.4 Years
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Average Cost of Solar Panels in Farragut
Let’s take a look at the average cost of solar in Farragut.
The average cost of a solar panel system in Farragut is 4 per watt.The average solar panel system size in Farragut is around 7.9 kilowatts, meaning a cost of about $19,720 for a solar installation, or $28,200 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what company you go with.But, after you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $12,000 over 20 years on electricity bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Farragut
| Year | Return on Investment |
|---|---|
| 1 years | $-18,173 |
| 3 years | $-15,079 |
| 5 years | $-11,986 |
| 7 years | $-8,892 |
| 9 years | $-5,798 |
| 11 years | $-2,704 |
| 13 years | $390 |
| 15 years | $3,483 |
| 17 years | $6,577 |
| 19 years | $9,671 |
| 21 years | $12,765 |
| 23 years | $15,859 |
| 25 years | $18,952 |
Top Solar Installers in Farragut
Trying to put up solar panels yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar companies provide can be invaluable as well, especially if you aren’t sure what kind of solar equipment you need.
If you're searching for a solar company in Farragut, we've organized a list of our top suggestions here:
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 Farragut
Factors that Affect Solar Panel Costs in Farragut
For many Farragut homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Farragut, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels 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 pay around $3,580 per kilowatt in Farragut.There are many different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the amount of 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 securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Farragut is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets.Additionally, some companies in Farragut know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $3.72 | $15,637 | $2,808 | 21.2 years |
| 8 kW | $3.65 | $20,449 | $4,145 | 20.8 years |
| 10 kW | $3.58 | $25,060 | $5,683 | 20.4 years |
| 12 kW | $3.51 | $29,471 | $7,421 | 20.0 years |
| 14 kW | $3.44 | $33,681 | $9,359 | 19.6 years |
| 16 kW | $3.37 | $37,690 | $11,498 | 19.2 years |
| 18 kW | $3.29 | $41,499 | $13,838 | 18.7 years |
| 20 kW | $3.22 | $45,108 | $16,378 | 18.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you’re not 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.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Reputation: Your solar installer should have a sound 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 satisfied reviews from previous customers.
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 Farragut, TN Solar Cost FAQs
How much does it cost to install solar panels in Farragut?
The average cost of solar panels in Farragut is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Farragut?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.