Solar Panel Cost Guide in Wildwood Lake, TN (2024 Update)
- Wildwood Lake Solar Installation Cost: $19,618
- 25-Year Savings: $12,462
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Wildwood Lake
See how much it might cost to make the switch to solar in Wildwood Lake.
In Wildwood Lake, solar panels cost about 4 per watt on average.The average Wildwood Lake homeowner needs a 7.8-kilowatt system, which would cost about $19,618 with the federal tax credit, or $28,054 before the 0 tax credit is applied.
The true cost of your system can be above or below the average in Wildwood Lake depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire.Despite the significant upfront cost, the average Wildwood Lake homeowner can save around $13,000 on their energy bills over 20 years, which is one of the perks of solar.
To get a free estimate from a pre-vetted solar installation company in Wildwood Lake, you can click the button below.
Solar savings over time in Wildwood Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-18,091 |
| 3 years | $-15,037 |
| 5 years | $-11,983 |
| 7 years | $-8,930 |
| 9 years | $-5,876 |
| 11 years | $-2,822 |
| 13 years | $232 |
| 15 years | $3,286 |
| 17 years | $6,339 |
| 19 years | $9,393 |
| 21 years | $12,447 |
| 23 years | $15,501 |
| 25 years | $18,555 |
Top Solar Installers in Wildwood Lake
Although it's possible to install solar panels by yourself, it requires extra time and expertise. For that reason, the majority of homeowners choose to hire a solar panel installer. Another advantage of going with a solar company is that they can help you maximize your ROI by lowering your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Wildwood Lake
Factors that Affect Solar Panel Costs in Wildwood Lake
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Wildwood Lake: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,580 per kilowatt in Wildwood Lake.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 choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Wildwood Lake average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Wildwood Lake, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your overall costs, so it’s vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can influence your pricing. Wildwood Lake’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $4,372 | 19.5 years |
| 8 kW | $3.65 | $20,449 | $6,230 | 19.2 years |
| 10 kW | $3.58 | $25,060 | $8,288 | 18.8 years |
| 12 kW | $3.51 | $29,471 | $10,548 | 18.4 years |
| 14 kW | $3.44 | $33,681 | $13,007 | 18.0 years |
| 16 kW | $3.37 | $37,690 | $15,667 | 17.7 years |
| 18 kW | $3.29 | $41,499 | $18,528 | 17.3 years |
| 20 kW | $3.22 | $45,108 | $21,589 | 16.9 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 choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: If you’re concerned about the longevity of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: The model of solar panel you’d like to install plays a part in which installer you should opt for, since different companies offer different panels.
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 Wildwood Lake, TN Solar Cost FAQs
How much does it cost to install solar panels in Wildwood Lake?
This is a tough 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my property value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose 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 many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 get 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.