Solar Panel Cost Guide in Oak Grove, TN (2024 Update)
- Oak Grove Solar Installation Cost: $20,584
- 25-Year Savings: $18,530
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Oak Grove
See how much it might cost to switch to solar power in Oak Grove.
The national average cost of solar panels is $2.66 per watt, but in Oak Grove it’s 4 per watt.To cover the typical energy usage of the average home in Oak Grove, most homeowners require a 8.2-kilowatt system. Using the figure above, a solar installation costs about $20,584, or $29,435 before the federal solar tax credit of 0 is applied.
The actual price you pay can be higher or lower than the average in Oak Grove based on several factors, such as the model of solar panels you choose and the solar company you hire.With typical savings of about $15,000 on power bills over 20 years, many homeowners in Oak Grove find installing solar panels can be quite rewarding.
Click the button below to get connected to a highly rated solar company in Oak Grove for a personalized estimate.
Solar savings over time in Oak Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-19,224 |
| 3 years | $-16,503 |
| 5 years | $-13,783 |
| 7 years | $-11,063 |
| 9 years | $-8,342 |
| 11 years | $-5,622 |
| 13 years | $-2,902 |
| 15 years | $-181 |
| 17 years | $2,539 |
| 19 years | $5,259 |
| 21 years | $7,980 |
| 23 years | $10,700 |
| 25 years | $13,421 |
Top Solar Installers in Oak Grove
Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be a lot of work. Another upside of utilizing a solar company is that they can help you make the most of your ROI by bringing down your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you’d like to go solar but still aren’t sure which solar system company to go with, here are our recommendations for providers in Oak Grove:
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 Oak Grove
Factors that Affect Solar Panel Costs in Oak Grove
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Oak Grove: 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment consists of 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 solid option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Oak Grove, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that provides the products, warranties and services you want and also is 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 | $8,356 | 16.3 years |
| 8 kW | $3.65 | $20,449 | $11,543 | 16.0 years |
| 10 kW | $3.58 | $25,060 | $14,929 | 15.7 years |
| 12 kW | $3.51 | $29,471 | $18,517 | 15.4 years |
| 14 kW | $3.44 | $33,681 | $22,305 | 15.0 years |
| 16 kW | $3.37 | $37,690 | $26,293 | 14.7 years |
| 18 kW | $3.29 | $41,499 | $30,482 | 14.4 years |
| 20 kW | $3.22 | $45,108 | $34,871 | 14.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- 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.
- Installation Process: When making the switch to solar energy, it’s important to keep an open line of communication with your solar company. Confirm that you understand how the installation process will go and the completion timeline.
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 Oak Grove, TN Solar Cost FAQs
What is the average cost of installing solar panels in Oak Grove?
This is a hard question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oak Grove is currently $261,791, which means you can expect a value of about $10,733 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Oak Grove is a rewarding investment.
How many solar panels should I get to power my home?
To figure out how many solar panels 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 usually 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.