Solar Panel Cost Guide in Oakland, TN (2024 Update)
- Oakland Solar Installation Cost: $19,292
- 25-Year Savings: $8,566
- Payback Period: 21.9 Years
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Average Cost of Solar Panels in Oakland
Let’s have a look at the average cost of solar in Oakland.
While the national average of solar panels is $2.66 per watt, solar panels in Oakland generally cost about 4.To account for the typical energy needs of the average home in Oakland, most homeowners require a 7.7-kilowatt system. Using the figure above, a solar installation costs about $19,292, or $27,588 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more.For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Oakland see about $11,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Oakland that can help you get a more accurate cost estimate for your home.
Solar savings over time in Oakland
| Year | Return on Investment |
|---|---|
| 1 years | $-18,223 |
| 3 years | $-16,085 |
| 5 years | $-13,947 |
| 7 years | $-11,809 |
| 9 years | $-9,671 |
| 11 years | $-7,533 |
| 13 years | $-5,395 |
| 15 years | $-3,257 |
| 17 years | $-1,119 |
| 19 years | $1,019 |
| 21 years | $3,156 |
| 23 years | $5,294 |
| 25 years | $7,432 |
Top Solar Installers in Oakland
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar company can make converting to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Oakland
Factors that Affect Solar Panel Costs in Oakland
Although the average cost of a solar system in Oakland is $19,292, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,580.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Oakland, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Oakland have solar loans, which reduce the initial cost of installing solar.However, the interest on solar loans also adds to your overall costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Oakland is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, you’ll have no shortage of solar installers that provide a range of services for different budgets.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a 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 | $1,497 | 22.8 years |
| 8 kW | $3.65 | $20,449 | $2,397 | 22.4 years |
| 10 kW | $3.58 | $25,060 | $3,497 | 21.9 years |
| 12 kW | $3.51 | $29,471 | $4,798 | 21.5 years |
| 14 kW | $3.44 | $33,681 | $6,299 | 21.1 years |
| 16 kW | $3.37 | $37,690 | $8,001 | 20.6 years |
| 18 kW | $3.29 | $41,499 | $9,903 | 20.2 years |
| 20 kW | $3.22 | $45,108 | $12,006 | 19.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: If you care about the longevity of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
EcoWatch's Oakland, TN Solar Cost FAQs
What is the average cost of installing solar panels in Oakland?
This is a hard question to answer precisely, 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Oakland?
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 bang for your buck from going solar.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $571.14 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.