Solar Panel Cost Guide in Ripley, TN (2024 Update)
- Ripley Solar Installation Cost: $19,448
- 25-Year Savings: $14,748
- Payback Period: 17.2 Years
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Average Cost of Solar Panels in Ripley
Find out what the average cost of installing solar panels is in Ripley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ripley, the typical cost of solar panels is 4 per watt.The average Ripley homeowner needs a 7.8-kilowatt system, which would cost about $19,448 with the federal tax credit, or $27,811 before the 0 tax credit is applied.
The true cost of your system can be above or below the average in Ripley based on several factors, such as the kind of solar panels you choose and the solar installer you hire.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on power bills.
You can click the button below to get connected with a top solar installer in Ripley that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ripley
| Year | Return on Investment |
|---|---|
| 1 years | $-17,939 |
| 3 years | $-14,923 |
| 5 years | $-11,906 |
| 7 years | $-8,890 |
| 9 years | $-5,873 |
| 11 years | $-2,856 |
| 13 years | $160 |
| 15 years | $3,177 |
| 17 years | $6,194 |
| 19 years | $9,210 |
| 21 years | $12,227 |
| 23 years | $15,244 |
| 25 years | $18,260 |
Top Solar Installers in Ripley
When going solar, many homeowners decide to go with a solar installer since putting up solar panels yourself can be a challenging project. Some solar companies, particularly local ones, can help you better understand incentives in Ripley, thereby optimizing your ROI.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Ripley
Factors that Affect Solar Panel Costs in Ripley
The cost of installing a solar system in Ripley can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,580. There are many different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Ripley homeowners decide to finance their solar panel systems to offset upfront costs.It’s a good idea to include 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 off the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can affect how much you pay. Ripley’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more 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 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 | $6,223 | 17.9 years |
| 8 kW | $3.65 | $20,449 | $8,698 | 17.5 years |
| 10 kW | $3.58 | $25,060 | $11,373 | 17.2 years |
| 12 kW | $3.51 | $29,471 | $14,250 | 16.9 years |
| 14 kW | $3.44 | $33,681 | $17,326 | 16.5 years |
| 16 kW | $3.37 | $37,690 | $20,603 | 16.2 years |
| 18 kW | $3.29 | $41,499 | $24,081 | 15.8 years |
| 20 kW | $3.22 | $45,108 | $27,759 | 15.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: Your solar installer should have a solid 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 positive reviews from previous customers.
EcoWatch's Ripley, TN Solar Cost FAQs
What is the average cost of installing solar panels in Ripley?
The average cost of solar panels in Ripley is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Ripley?
You can’t get solar panels for free in Ripley. 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 rather own your solar panels, you can finance them with a solar loan.
How will having solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ripley is currently $136,848, so you can expect a value of about $5,611 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Ripley is a rewarding investment.
How long do solar panels last in Ripley?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.