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 average cost of a solar system in Rockwood is 4 per watt.Since a 7.9-kW system is needed to cover the energy consumption of a typical home in Rockwood, the average price of going solar will be about $19,694 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar system you want to get, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in Rockwood can save about $14,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
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
Installing solar panels by yourself can be a stressful task, which is why getting a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Rockwood:
See all of the solar companies in Rockwood
Factors that Affect Solar Panel Costs in Rockwood
For many Rockwood homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Rockwood, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,580. 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 a small roof 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. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Rockwood, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.Though solar loans make switching to solar energy more accessible for Rockwood homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Rockwood, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
EcoWatch's Rockwood, TN Solar Cost FAQs
How much does it cost to install 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, 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, as it usually comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Rockwood is currently $210,596, so you could be looking at a value of about $8,634 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Rockwood is a fruitful investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.