Solar Panel Cost Guide in Knoxville, TN (2024 Update)
- Knoxville Solar Installation Cost: $19,730
- 25-Year Savings: $1
- Payback Period: 36.0 Years
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Average Cost of Solar Panels in Knoxville
We go over average solar pricing in Knoxville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Knoxville, the average cost of solar panels is 4 per watt.Since a 7.9-kW system is needed to cover the energy costs of a typical home in Knoxville, the average price of going solar will be about $19,730 after claiming the federal solar tax credit of 0.
These figures are only estimates, and your own solar costs will differ based on the amount of energy your home requires and what company you choose to go with.But, after you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $7,000 over 20 years on electricity bills.
To get a free estimate from a highly rated solar installation company in Knoxville, you can click the button below.
Solar savings over time in Knoxville
| Year | Return on Investment |
|---|---|
| 1 years | $-18,662 |
| 3 years | $-16,526 |
| 5 years | $-14,390 |
| 7 years | $-12,255 |
| 9 years | $-10,119 |
| 11 years | $-7,983 |
| 13 years | $-5,847 |
| 15 years | $-3,712 |
| 17 years | $-1,576 |
| 19 years | $560 |
| 21 years | $2,696 |
| 23 years | $4,831 |
| 25 years | $6,967 |
Top Solar Installers in Knoxville
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with an installer can make your swap to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar system. 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 Knoxville
Factors that Affect Solar Panel Costs in Knoxville
Though the average cost of a solar system in Knoxville is $19,730, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,580. The model of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over five to seven years on average.Even though solar loans make switching to solar energy more accessible for Knoxville homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Knoxville is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for example, you’ll have many options for solar installers that offer a range of services at different costs.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for and also fits 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 | $-5,206 | 37.5 years |
| 8 kW | $3.65 | $20,449 | $-6,540 | 36.8 years |
| 10 kW | $3.58 | $25,060 | $-7,674 | 36.0 years |
| 12 kW | $3.51 | $29,471 | $-8,607 | 35.3 years |
| 14 kW | $3.44 | $33,681 | $-9,340 | 34.6 years |
| 16 kW | $3.37 | $37,690 | $-9,872 | 33.9 years |
| 18 kW | $3.29 | $41,499 | $-10,204 | 33.2 years |
| 20 kW | $3.22 | $45,108 | $-10,335 | 32.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Contract: Before signing a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
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 Knoxville, TN Solar Cost FAQs
How much does it cost to install solar panels in Knoxville?
This is a tough question to answer exactly, 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Knoxville?
You can’t get solar panels for free in Knoxville. 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’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Knoxville?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.