Solar Panel Cost Guide in Shackle Island, TN (2024 Update)
- Shackle Island Solar Installation Cost: $20,150
- 25-Year Savings: $11,959
- Payback Period: 19.4 Years
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Average Cost of Solar Panels in Shackle Island
Let’s have a look at the average cost of solar panels in Shackle Island.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Shackle Island, the typical cost of a solar system is 4 per watt.The average solar panel system size in Shackle Island is around 8.0 kilowatts, meaning a cost of about $20,150 for a solar installation, or $28,814 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Shackle Island based on a few factors, such as the type of solar panels you choose and the solar contractor you hire.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $13,000 over 20 years on power bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Shackle Island
| Year | Return on Investment |
|---|---|
| 1 years | $-18,535 |
| 3 years | $-15,304 |
| 5 years | $-12,074 |
| 7 years | $-8,844 |
| 9 years | $-5,613 |
| 11 years | $-2,383 |
| 13 years | $847 |
| 15 years | $4,078 |
| 17 years | $7,308 |
| 19 years | $10,538 |
| 21 years | $13,768 |
| 23 years | $16,999 |
| 25 years | $20,229 |
Top Solar Installers in Shackle Island
Putting up solar panels by yourself can be a difficult undertaking, which is why getting a solar installer is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar energy, going with a solar installer can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Shackle Island
Factors that Affect Solar Panel Costs in Shackle Island
There are many criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation 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.The type 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, add-on products, such as solar batteries, can bring your total well above the Shackle Island average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Shackle Island homeowners choose to finance their solar panel systems to offset upfront costs.While solar loans make going solar more accessible for Shackle Island homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar system can affect the cost. Shackle Island’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $3,744 | 20.2 years |
| 8 kW | $3.65 | $20,449 | $5,393 | 19.8 years |
| 10 kW | $3.58 | $25,060 | $7,242 | 19.4 years |
| 12 kW | $3.51 | $29,471 | $9,292 | 19.0 years |
| 14 kW | $3.44 | $33,681 | $11,543 | 18.6 years |
| 16 kW | $3.37 | $37,690 | $13,994 | 18.2 years |
| 18 kW | $3.29 | $41,499 | $16,645 | 17.8 years |
| 20 kW | $3.22 | $45,108 | $19,497 | 17.5 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 models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
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 Shackle Island, TN Solar Cost FAQs
What is the average cost of installing solar panels in Shackle Island?
The average cost of solar panels in Shackle Island is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Shackle Island?
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 can’t take advantage of 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 financial benefits from going solar.
Is going solar worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
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 take a 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 cover 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.