Solar Panel Cost Guide in Spurgeon, TN (2023 Update)
- Spurgeon Solar Installation Cost: $14,275
- 25-Year Savings: $18,572
- Payback Period: 10.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Spurgeon
Here's how much it might cost to switch to solar power in Spurgeon.
In Spurgeon, solar panels cost about 2.49 per watt on average. The average solar panel system size in Spurgeon is around 8.2 kilowatts, meaning a cost of about $14,275 for a solar installation, or $20,413 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Even with the significant initial cost, the average Spurgeon homeowner can save around $15,000 on their energy bills over 20 years, which is one of the perks of solar.
To get a free estimate from a highly rated solar company in Spurgeon, you can click the button below.
Solar savings over time in Spurgeon
| Year | Return on Investment |
|---|---|
| 1 years | $-12,961 |
| 3 years | $-10,334 |
| 5 years | $-7,706 |
| 7 years | $-5,078 |
| 9 years | $-2,450 |
| 11 years | $178 |
| 13 years | $2,805 |
| 15 years | $5,433 |
| 17 years | $8,061 |
| 19 years | $10,689 |
| 21 years | $13,316 |
| 23 years | $15,944 |
| 25 years | $18,572 |
Top Solar Installers in Spurgeon
Although you can install solar panels yourself, it involves extra energy and knowledge. That's one of the reasons most homeowners choose to hire a solar panel installer. Local solar installers can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
There are a number of licensed solar professionals that can help you install your solar panels. 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Spurgeon
Factors that Affect Solar Panel Costs in Spurgeon
For many Spurgeon homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Spurgeon, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need 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 $2,490. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Spurgeon, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Spurgeon, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 go with the company that offers the products, warranties and services you're looking for 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 | $2.59 | $10,876 | $13,173 | 11.3 years |
| 8 kW | $2.54 | $14,223 | $17,843 | 11.1 years |
| 10 kW | $2.49 | $17,430 | $22,652 | 10.9 years |
| 12 kW | $2.44 | $20,498 | $27,601 | 10.7 years |
| 14 kW | $2.39 | $23,426 | $32,689 | 10.4 years |
| 16 kW | $2.34 | $26,215 | $37,917 | 10.2 years |
| 18 kW | $2.29 | $28,864 | $43,284 | 10.0 years |
| 20 kW | $2.24 | $31,374 | $48,791 | 9.8 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: If you're concerned about the durability of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Spurgeon, TN Solar Cost FAQs
How much does it cost to install solar panels in Spurgeon?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,450 for a 5-kW system and $24,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Spurgeon?
Leasing solar panels can be an option if you are unable 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 bang for your buck from going solar.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.