Solar Panel Cost Guide in Mount Carmel, TN (2023 Update)
- Mount Carmel Solar Installation Cost: $13,927
- 25-Year Savings: $17,601
- Payback Period: 11.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mount Carmel
We go over average solar pricing in Mount Carmel.
The average cost of a solar system in Mount Carmel is 2.49 per watt. To account for the typical energy usage of the average home in Mount Carmel, most homeowners require a 8.0-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,927, or $19,916 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you choose, your solar contractor and more. With typical savings of about $15,000 on power bills over 20 years, many homeowners in Mount Carmel find going solar can pay off big.
You can click the button below to get connected with a pre-vetted solar company in Mount Carmel for a quote for your home.
Solar savings over time in Mount Carmel
| Year | Return on Investment |
|---|---|
| 1 years | $-12,665 |
| 3 years | $-10,143 |
| 5 years | $-7,621 |
| 7 years | $-5,099 |
| 9 years | $-2,577 |
| 11 years | $-54 |
| 13 years | $2,468 |
| 15 years | $4,990 |
| 17 years | $7,512 |
| 19 years | $10,034 |
| 21 years | $12,557 |
| 23 years | $15,079 |
| 25 years | $17,601 |
Top Solar Installers in Mount Carmel
Installing solar panels on your own can be a challenging undertaking, which is why using a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be useful as well, especially if you aren't sure what kind of solar equipment you need.
If you're searching for a solar company in Mount Carmel, we've organized a list of our top suggestions here:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Mount Carmel
Factors that Affect Solar Panel Costs in Mount Carmel
There are a number of criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy 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 spend around $2,490 per kilowatt in Mount Carmel. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid option because they lower your upfront costs and allow you to 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Mount Carmel, you'll have many options to choose from, but each comes at different price points for labor and equipment. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.59 | $10,876 | $12,805 | 11.5 years |
| 8 kW | $2.54 | $14,223 | $17,352 | 11.3 years |
| 10 kW | $2.49 | $17,430 | $22,039 | 11.0 years |
| 12 kW | $2.44 | $20,498 | $26,865 | 10.8 years |
| 14 kW | $2.39 | $23,426 | $31,830 | 10.6 years |
| 16 kW | $2.34 | $26,215 | $36,935 | 10.4 years |
| 18 kW | $2.29 | $28,864 | $42,180 | 10.2 years |
| 20 kW | $2.24 | $31,374 | $47,563 | 9.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: The model of solar panel you'd like to install plays a part in which company you should go with, since different companies provide different panels.
- Contract: Before signing a contract with a solar company, be sure to read it through completely 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 if there are any guarantees about energy production.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Mount Carmel, TN Solar Cost FAQs
How much does it cost to install solar panels in Mount Carmel?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $12,450 for a 5-kW system and $24,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $789.37 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.