Solar Panel Cost Guide in Maryville, TN (2024 Update)
- Maryville Solar Installation Cost: $20,227
- 25-Year Savings: $10,295
- Payback Period: 20.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Maryville
We break down average solar pricing in Maryville.
Although the national average of solar panels is $2.66 per watt, solar panels in Maryville typically cost around 4.Using this figure, a typical 8.1-kW system would cost about $20,227 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Maryville based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.Many homeowners find going solar is a rewarding investment. The average homeowner in Maryville can save around $12,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Maryville for a quote for your home.
Solar savings over time in Maryville
| Year | Return on Investment |
|---|---|
| 1 years | $-18,708 |
| 3 years | $-15,669 |
| 5 years | $-12,631 |
| 7 years | $-9,592 |
| 9 years | $-6,554 |
| 11 years | $-3,515 |
| 13 years | $-477 |
| 15 years | $2,561 |
| 17 years | $5,600 |
| 19 years | $8,638 |
| 21 years | $11,677 |
| 23 years | $14,715 |
| 25 years | $17,754 |
Top Solar Installers in Maryville
When switching to solar energy, many homeowners decide to hire a solar installer since installing a solar system yourself can be a challenging project. The expertise that solar companies provide can be invaluable as well, especially if you aren’t sure what type of solar equipment you need.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Maryville
Factors that Affect Solar Panel Costs in Maryville
The cost of installing a solar system in Maryville can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,580.The brand of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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
Many homeowners find the average cost of solar in Maryville to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.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 Maryville is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that offer a range of services at different price points.Additionally, some companies in Maryville are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $2,473 | 21.6 years |
| 8 kW | $3.65 | $20,449 | $3,698 | 21.2 years |
| 10 kW | $3.58 | $25,060 | $5,124 | 20.8 years |
| 12 kW | $3.51 | $29,471 | $6,750 | 20.3 years |
| 14 kW | $3.44 | $33,681 | $8,577 | 19.9 years |
| 16 kW | $3.37 | $37,690 | $10,604 | 19.5 years |
| 18 kW | $3.29 | $41,499 | $12,832 | 19.1 years |
| 20 kW | $3.22 | $45,108 | $15,260 | 18.7 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies have different brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Maryville, TN Solar Cost FAQs
How much does it cost to install solar panels in Maryville?
This is a difficult question to answer precisely, because the cost depends on many 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. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Maryville?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is it worth going solar in Maryville?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.