Solar Panel Cost Guide in McKenzie, TN (2024 Update)
- McKenzie Solar Installation Cost: $19,732
- 25-Year Savings: $10,712
- Payback Period: 20.2 Years
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Average Cost of Solar Panels in McKenzie
We break down average solar pricing in McKenzie.
While the national average of solar panels is $2.66 per watt, solar panels in McKenzie typically cost about 4.To cover the typical energy usage of the average home in McKenzie, most homeowners require a 7.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $19,732, or $28,217 before the federal solar tax credit of 0 is applied.
How much you pay can go above or below the average in McKenzie based on a few factors, such as the type of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $12,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar company in McKenzie for a customized quote.
Solar savings over time in McKenzie
| Year | Return on Investment |
|---|---|
| 1 years | $-18,244 |
| 3 years | $-15,269 |
| 5 years | $-12,293 |
| 7 years | $-9,317 |
| 9 years | $-6,341 |
| 11 years | $-3,365 |
| 13 years | $-390 |
| 15 years | $2,586 |
| 17 years | $5,562 |
| 19 years | $8,538 |
| 21 years | $11,514 |
| 23 years | $14,489 |
| 25 years | $17,465 |
Top Solar Installers in McKenzie
Although it's possible to install solar panels on your own, it takes extra labor and expertise. For that reason, almost all homeowners choose to go with a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
You can work with a local solar installer to get a free quote on the cost of solar panels 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 McKenzie
Factors that Affect Solar Panel Costs in McKenzie
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in McKenzie: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in McKenzie, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $3,580 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also changes the cost. Generally, the brands that are more efficient tend to also cost more. In addition, the type of equipment you’re looking to install 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
Most solar installers in McKenzie have solar loans, which reduce the initial cost of installing a solar system.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 finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you choose will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $2,983 | 21.0 years |
| 8 kW | $3.65 | $20,449 | $4,378 | 20.6 years |
| 10 kW | $3.58 | $25,060 | $5,974 | 20.2 years |
| 12 kW | $3.51 | $29,471 | $7,770 | 19.8 years |
| 14 kW | $3.44 | $33,681 | $9,766 | 19.4 years |
| 16 kW | $3.37 | $37,690 | $11,964 | 19.0 years |
| 18 kW | $3.29 | $41,499 | $14,361 | 18.6 years |
| 20 kW | $3.22 | $45,108 | $16,959 | 18.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Well-established 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.
- Solar Panel Brands: Different companies offer different brands and types of panels. If you want a specific brand, make sure the solar company you’re considering has it.
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 McKenzie, TN Solar Cost FAQs
How much does it cost to install solar panels in McKenzie?
This is a difficult 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in McKenzie?
You can’t get solar panels for free in McKenzie. 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 prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in McKenzie?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in McKenzie?
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 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.