Solar Panel Cost Guide in Rockwood, TN (2024 Update)
- Rockwood Solar Installation Cost: $19,694
- 25-Year Savings: $14,689
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Rockwood
We go over average solar pricing in Rockwood.
The national average cost of solar panels is $2.66 per watt, but in Rockwood it’s 4 per watt.Using this figure, a typical 7.9-kW system would cost about $19,694 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Rockwood depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on electricity bills.
You can click the button below to get connected with a vetted solar installer in Rockwood that can help you get a more accurate cost estimate for your home.
Solar savings over time in Rockwood
| Year | Return on Investment |
|---|---|
| 1 years | $-18,081 |
| 3 years | $-14,853 |
| 5 years | $-11,625 |
| 7 years | $-8,397 |
| 9 years | $-5,169 |
| 11 years | $-1,941 |
| 13 years | $1,287 |
| 15 years | $4,515 |
| 17 years | $7,743 |
| 19 years | $10,971 |
| 21 years | $14,199 |
| 23 years | $17,426 |
| 25 years | $20,654 |
Top Solar Installers in Rockwood
Although you can install solar panels yourself, it involves extra labor and knowledge. Because of that, most people choose to hire a solar panel installer. Another great thing about going with a reliable solar installer is that it'll provide warranties and free repairs, which help protect your investment.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our suggestions for providers nearby:
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 Rockwood
Factors that Affect Solar Panel Costs in Rockwood
Although the average cost of a solar system in Rockwood is $19,694, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Rockwood average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Rockwood, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Rockwood is the company you hire to install your solar 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 at different costs.Additionally, some companies in Rockwood are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $6,035 | 18.0 years |
| 8 kW | $3.65 | $20,449 | $8,447 | 17.7 years |
| 10 kW | $3.58 | $25,060 | $11,060 | 17.3 years |
| 12 kW | $3.51 | $29,471 | $13,874 | 17.0 years |
| 14 kW | $3.44 | $33,681 | $16,888 | 16.7 years |
| 16 kW | $3.37 | $37,690 | $20,102 | 16.3 years |
| 18 kW | $3.29 | $41,499 | $23,517 | 16.0 years |
| 20 kW | $3.22 | $45,108 | $27,132 | 15.6 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 decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like 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 Rockwood, TN Solar Cost FAQs
What is the average cost of installing solar panels in Rockwood?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Rockwood?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will having solar panels impact the value of my home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.