Solar Panel Cost Guide in Lake Tansi, TN (2024 Update)
- Lake Tansi Solar Installation Cost: $20,117
- 25-Year Savings: $9,473
- Payback Period: 21.4 Years
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Average Cost of Solar Panels in Lake Tansi
Find out what the average cost of solar panel installation is in Lake Tansi.
In Lake Tansi, solar panels cost about 4 per watt on average.The average Lake Tansi homeowner needs a 8.0-kilowatt system, which would cost about $20,117 with the federal tax credit, or $28,767 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs will most likely differ based on factors unique to your home and what company you want to go with.With average savings of about $12,000 on utility bills over 20 years, many homeowners in Lake Tansi find going solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Lake Tansi for a quote for your home.
Solar savings over time in Lake Tansi
| Year | Return on Investment |
|---|---|
| 1 years | $-18,494 |
| 3 years | $-15,248 |
| 5 years | $-12,002 |
| 7 years | $-8,756 |
| 9 years | $-5,510 |
| 11 years | $-2,264 |
| 13 years | $982 |
| 15 years | $4,228 |
| 17 years | $7,474 |
| 19 years | $10,720 |
| 21 years | $13,966 |
| 23 years | $17,212 |
| 25 years | $20,458 |
Top Solar Installers in Lake Tansi
Many homeowners opt for a solar installer since trying to install solar panels yourself can be challenging. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
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 Lake Tansi
Factors that Affect Solar Panel Costs in Lake Tansi
There are a number of factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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 consumes, the larger your system will likely need to be. You can expect to pay around $3,580 per kilowatt in Lake Tansi.The kind of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions 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 researching a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Lake Tansi, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by offering 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 | $1,901 | 22.3 years |
| 8 kW | $3.65 | $20,449 | $2,935 | 21.9 years |
| 10 kW | $3.58 | $25,060 | $4,171 | 21.4 years |
| 12 kW | $3.51 | $29,471 | $5,606 | 21.0 years |
| 14 kW | $3.44 | $33,681 | $7,242 | 20.6 years |
| 16 kW | $3.37 | $37,690 | $9,079 | 20.1 years |
| 18 kW | $3.29 | $41,499 | $11,116 | 19.7 years |
| 20 kW | $3.22 | $45,108 | $13,353 | 19.3 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
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 Lake Tansi, TN Solar Cost FAQs
How much does it cost to install solar panels in Lake Tansi?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly 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 other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Lake Tansi?
Solar panels aren’t free in Lake Tansi, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is making the switch to solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Lake Tansi?
Though 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 decide to replace them once you've had them for that long or you can keep using 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.