Solar Panels Cost 16k-27k in Farragut, TN | October, 2024

Solar Panels Cost $16k-$27k in Farragut, TN | October, 2024

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How much do solar panels cost in Farragut, TN in 2024?

In October, 2024, the current price per watt of solar in Farragut, TN is $3.95/W.

So, solar panel installations will cost you about $3,950 per 1 kW (or 1000 watts) of generation capacity. In Farragut, the cost of a 5 kW panel install is typically $13,825, after the 30% federal tax credit. However, please keep in mind that a higher capacity system might be required to satisfy your energy demands.

On the left side, choose your county to find the typical roof size and the maximum capacity of solar panels for homes in your area. Below, you can see an analysis of the price, payback period and 20 year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Farragut: $13,825US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Farragut: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Farragut: $14,388US Average: $15,784

Solar Potential in Farragut

Estimated system size and solar electricity production per median viable roof in
Farragut.

Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.6kkWh AC per yr.

Electricity Costs in Farragut, TN & What that Means for Your Solar Panel Pricing

The monthly electricity usage for a typical Farragut household is 1,207 kWh, with a standard bill of $142.24. These figures include apartments and smaller residences with typically reduced energy demand.

In October 2024, Farragut, TN's average electricity rate amounts to 11.78¢ per kWh.

For the typical energy consumer in Farragut, a system size of 10 kW or more is necessary to satisfy their entire power usage requirements. After incentives, a 10 kW solar system will cost around $27,650.

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Average solar panel costs by system size in Farragut

Shown on the left and below is the cost analysis for multiple sizes of solar panel systems set up in Farragut. While a more extensive solar installation has a larger expense, it also provides higher electricity savings and larger income tax credits.

Look at the solar panel cost calculator below and to the right to see the cost and benefit details derived from an average $142.24 electric bill in Farragut. To get personalized results, change the $142.24 to reflect your average electricity payment.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,048 a year
Est. Price
$16,590
Savings from a 6kWthis system
  • Est. yearly production 8,735 kWh
  • Est. monthly savings $87
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 2.57 tons a year
  • Equivalent to planting 118 trees a year
  • Equivalent to driving 6,354 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,223 a year
Est. Price
$19,355
Savings from a 7kWthis system
  • Est. yearly production 10,191 kWh
  • Est. monthly savings $102
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 2.99 tons a year
  • Equivalent to planting 138 trees a year
  • Equivalent to driving 7,413 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,398 a year
Est. Price
$22,120
Savings from a 8kWthis system
  • Est. yearly production 11,647 kWh
  • Est. monthly savings $116
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 3.42 tons a year
  • Equivalent to planting 157 trees a year
  • Equivalent to driving 8,472 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,572 a year
Est. Price
$24,885
Savings from a 9kWthis system
  • Est. yearly production 13,103 kWh
  • Est. monthly savings $131
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 3.85 tons a year
  • Equivalent to planting 177 trees a year
  • Equivalent to driving 9,531 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,747 a year
Est. Price
$27,650
Savings from a 10kWthis system
  • Est. yearly production 14,559 kWh
  • Est. monthly savings $142
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 4.17 tons a year
  • Equivalent to planting 192 trees a year
  • Equivalent to driving 10,329 mi less a year

Farragut Solar Panel Installation Incentives & Rebates | 2024

For rural agricultural enterprises and small businesses, the REAP Grant might currently cover between 80% and 100% of the expenses for installing photovoltaic or wind energy systems. Believe you might be eligible? Use our REAP Grant eligibility tool to confirm your eligibility.

For those considering residential solar, the 30% federal income tax credit is available to nearly everyone, making solar power a good investment in numerous parts of the country. State and local efforts are also in place to further drive the growth of solar energy use.

A number of utilities and governmental agencies in Tennessee provide 2 solar rebate and incentive programs.

Sales Tax Credit for Clean Energy Technology

Value:Varies

New devices used in the generation, storage, or distribution of "green energy" in Tennessee may be eligible for state sales/use tax exemptions. Qualifying equipment should use solar, wind, geothermal, or hydrogen fuel cell technology and be installed in a Department of Environment-certified facility. To claim the exemption, the installing contractor should submit application paperwork to the Department of Revenue at the time of purchase. The buyer must then fill out a corresponding form. Approved exemptions will be paid as a refund to the contractor.

Pathway Energy Efficiency Loan Program

Value:Varies

Tennessee's Energy Efficiency Loan Program (EELP) is operated by Pathway Lending, a private non-profit operating in multiple states. Through the program, small businesses, local nonprofits, and local governments may obtain special financing for new renewable energy investments and energy efficiency improvements. Repayment plans last up to six years and are typically based on energy savings at below-market interest. To apply, an organization must submit successful proposals and complete an energy audit. Additional information is available from the Pathway Lending website.

Are solar panels worth it in Tennessee?

If you expect to live in your home beyond the time it takes to recoup your solar investment, adding solar panels in Farragut is an excellent decision. Installing a 5 kW solar system in Farragut, TN will, on average, save you $20,312.6 over 20 years, and you can expect to break even in about 8 years.

The cost of not having solar panels in Farragut, TN

Forgoing solar panels or an alternative backup energy source results in you'll miss out on the savings highlighted above and be fully dependent on your electric utility for power. Recent news stories have shown that complete dependence on your utility is not always ideal.

The average number of outages per customer per year for utilities in Knox County has been 1.97 recently. The average duration of each outage is 116.91 minutes. During severe events like aging infrastructure, thunderstorms or planned maintenance, these times can grow significantly longer.

A solar panel system, with or without a backup battery, could help mitigate the effects of future outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Knox County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Farragut, TN?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt decreases as the system size increases. Individuals often find that installing a solar system that can replace their electric bill is highly beneficial. This strategy results in greater savings.

Make & Model - Similar to other industries, the solar energy sector features a range of solar panel and mounting equipment brands and designs. Considering the particular system preferences an contractor might have, selecting a highly rated company is critical. Superior quality makes and models generally lead to a more positive long-term experience for buyers.

Solar Panel Type - There are valid reasons why monocrystalline panels are now the industry standard. Although the cost is higher, they yield more energy. Many installers use these kinds of panels.

Your Property - No two homes or properties are the same. Elements such as trees, irregular terrain, or other challenges might complicate the installation process. Most solar installers today leverage satellite imagery to evaluate your home and include these factors into the initial cost estimate.

Labor Rates - The varied employee wages paid by companies cause costs that consumers eventually bearing . It is frequently observed that businesses with higher wages receive superior reviews for their services and customer service.

Permitting & Interconnection - Your final installation cost will be influenced by local permitting and utility interconnection fees, which change by area. Good installers will factor these costs into your first quotes to prevent unexpected expenses.

See what solar panels cost in other TN cities

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Who are the best solar installers in Farragut?

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Monitoring of independent energy generation.
  • Auditing of energy requirements for independent energy generation.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Consulting on all things solar related.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

Tungsten Electric

Nashville-Davidson metropolitan government, TN(615) 491-0206

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

LightEdison

Denver, CO(888) 966-6377

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Solar Plus

Atlanta, GA(470) 378-1182

Services

  • Consulting on all things solar related.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Farragut, TN Solar Panel Cost FAQs

  • As of October, 2024, the average solar panel installation cost in Farragut, TN has reached $3.95/W. A 5 kW solar panel system will cost you around $13,825 in Farragut, TN after the federal tax credit is applied.

  • Homeowners in Tennessee can take advantage of 2 different rebates and incentives from a variety of utility companies and government agencies. Additionally, almost everyone is entitled to the 30% federal income tax credit.

  • Even though paying cash provides the most savings, there are now several financing options for solar panels that also are cost-effective. Installers typically partner with financing companies and will include this information into your initial quotes.

  • Yes, homeowners in Farragut, TN generally see a payback time of 8 years for 5 kW solar panel systems, with electricity savings averaging $20,312.6 over a 20-year period.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01