Solar Panel Cost Guide in Spurgeon, TN (2023 Update)
- Spurgeon Solar Installation Cost: $14,284
- 25-Year Savings: $18,563
- Payback Period: 10.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Spurgeon
Let's have a look at the average cost of solar panels in Spurgeon.
While the national average of solar panels is $2.66 per watt, solar panels in Spurgeon generally cost about 2.49. Because a 8.2-kW system is needed to cover the energy costs of a typical home in Spurgeon, the average price of going solar will be about $14,275 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar company in your area for a personalized quote.
Solar savings over time in Spurgeon
| Year | Return on Investment |
|---|---|
| 1 years | $-12,923 |
| 3 years | $-10,203 |
| 5 years | $-7,483 |
| 7 years | $-4,762 |
| 9 years | $-2,042 |
| 11 years | $678 |
| 13 years | $3,399 |
| 15 years | $6,119 |
| 17 years | $8,840 |
| 19 years | $11,560 |
| 21 years | $14,280 |
| 23 years | $17,001 |
| 25 years | $19,721 |
Top Solar Installers in Spurgeon
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar panel installer can make your swap to solar power much easier. In addition, if you'd like to maximize your investment in solar, using a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you're on the hunt for a solar company in Spurgeon, the EcoWatch team has put together a list of our top suggestions here:
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 Spurgeon
Factors that Affect Solar Panel Costs in Spurgeon
The cost of installing a solar system in Spurgeon can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,490. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installation company you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Spurgeon have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $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
There are numerous companies to choose from in Spurgeon, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Warranty: If you're worried about the durability of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. 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 peruse their list of offerings before deciding.
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 Spurgeon, TN Solar Cost FAQs
How much does it cost to install solar panels in Spurgeon?
The average cost of solar panels in Spurgeon is about $12,450 for a 5-kW system and $24,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Spurgeon?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Spurgeon?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had 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.