Solar Panels Cost 17k-28k in Knoxville, TN | September, 2024

Solar Panels Cost $17k-$28k in Knoxville, TN | September, 2024

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

It averages out to $4.08 per watt to go solar in September, 2024 in Knoxville, TN.

For every 1000 watts (1 kW) your solar panels can produce, you will need to spend, on average, $4,080 for its installation. Applying the 30% federal tax credit, the average expense for a 5 kW solar system in Knoxville is approximately $14,280. Bear in mind that you may need a bigger system to satisfy your energy requirements.

Use the left-hand menu to select your area and see the typical roof size and the maximum capacity for residential solar on homes in your county. Below, you can see a complete outline of the costs, 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.
Knoxville: $14,280US Average: $12,598
Average Payback Period The number of years until you break even on the solar investment.
Knoxville: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Knoxville: $11,590US Average: $15,732

Solar Potential in Knoxville

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

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

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

The average electricity bill in Knoxville, for a usage of 1,089 kWh per month, is $133.29. These numbers take into account apartments and smaller residences with lower energy needs.

For September 2024, the mean electricity rate in Knoxville, TN is 12.24¢ per kWh.

To satisfy the electricity requirements of an average consumer in Knoxville, a solar panel system of 10 kW or larger is a must. The starting price for a 10 kW solar system will be $40,800, but after a 30% tax credit, your cost is reduced to $28,560.

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Average solar panel costs by system size in Knoxville

On the left side below, you'll find the cost breakdown for different sizes of the solar panel systems set up in Knoxville. While a more extensive solar installation has a higher price, it also yields higher electricity savings and higher income tax credits.

The solar panel calculator, located below and to the right, gives a detailed cost and benefit analysis based on a typical $133.29 electric bill for Knoxville. To get custom results, alter the $133.29 to reflect your usual electricity payment.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,036 a year
Est. Price
$17,136
Savings from a 6kWthis system
  • Est. yearly production 8,636 kWh
  • Est. monthly savings $86
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 2.71 tons a year
  • Equivalent to planting 124 trees a year
  • Equivalent to driving 6,698 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,209 a year
Est. Price
$19,992
Savings from a 7kWthis system
  • Est. yearly production 10,075 kWh
  • Est. monthly savings $101
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 3.16 tons a year
  • Equivalent to planting 145 trees a year
  • Equivalent to driving 7,814 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,382 a year
Est. Price
$22,848
Savings from a 8kWthis system
  • Est. yearly production 11,514 kWh
  • Est. monthly savings $115
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 3.61 tons a year
  • Equivalent to planting 166 trees a year
  • Equivalent to driving 8,931 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,554 a year
Est. Price
$25,704
Savings from a 9kWthis system
  • Est. yearly production 12,954 kWh
  • Est. monthly savings $130
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 4.06 tons a year
  • Equivalent to planting 186 trees a year
  • Equivalent to driving 10,047 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,727 a year
Est. Price
$28,560
Savings from a 10kWthis system
  • Est. yearly production 14,393 kWh
  • Est. monthly savings $133
  • Full payback in 18 years
Environmental Impacts
  • Reduces CO2 emissions by 4.17 tons a year
  • Equivalent to planting 191 trees a year
  • Equivalent to driving 10,315 mi less a year

Knoxville Solar Panel Installation Incentives & Rebates | 2024

Eligible rural small businesses and farmlands might have their solar or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. Unsure if you're eligible? Verify your status with our REAP Grant eligibility tool.

Homeowners can benefit from a 30% federal income tax credit for adding residential solar panels, which makes solar power a feasible option throughout much of the country. Additionally, there are various state and local incentives to further push for the adoption of solar energy.

There are 2 solar incentive and rebate programs in Tennessee, available by different utilities and governmental bodies.

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're planning to stay in your home past the period required to pay back your solar investment, installing solar panels is a good decision in Knoxville. A 5 kW solar system in Knoxville, TN might save you an average of $17,709.6 over 20 years, with the break even point typically being 9 years.

The cost of not having solar panels in Knoxville, TN

Without solar panels or another backup power source, you lose out on the previously noted savings and are entirely dependent on your electric utility for electricity. As recent news articles have pointed out, total reliance on your utility provider isn't always ideal.

In recent years, Knoxville has seen an average of 1.31 utility outages per customer each year. The average length of an outage is 103.2 minutes. In events like planned maintenance, equipment failure or thunderstorms, this duration can extend significantly.

Regardless of whether a backup battery is present, a solar panel system could reduce the impact of future power 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 Knoxville, TN?

Your Energy Needs - When opting for larger solar panel systems, the overall expense is larger; however, the cost per watt diminishes with an increase in system size. Setting up a solar panel system that can cover the electric bill is useful to consumers because of the reduced long-term costs.

Make & Model - There are a range of makes and models of solar panels and mounting equipment. Because the installer you select might have specific system preferences, selecting a highly rated contractor is even more important. The employment of high-quality materials is probably will yield a more positive long-term experience for buyers.

Solar Panel Type - It's not surprising that monocrystalline panels are now the industry standard. They are associated with a higher price, but they provide more energy. Most solar panel installers choose this kind of material.

Your Property - Things like trees, sloping terrain, or other impediments may cause the installation to be more challenging. By using satellite imagery, solar installers can now assess your home and factor in these factors into the first cost estimate.

Labor Rates - The varying wages that companies offer their employees lead to costs that are inevitably passed on to consumers. Companies often garner higher reviews for their services and customer service when they pay higher wages.

Permitting & Interconnection - Permitting and utility interconnection fees differ locally and will impact your installation cost. Experienced local installers will include these figures in your initial estimates to ensure transparency.

See what solar panels cost in other TN cities

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Who are the best solar installers in Knoxville?

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.

Knoxville, TN Solar Panel Cost FAQs

  • As of September, 2024, the typical cost for solar panels in Knoxville, TN is $4.08/W. For a 5 kW solar panel system, the total cost in Knoxville, TN after federal tax credits is around $14,280.

  • If you live in Tennessee, you can find 2 rebates and incentives through different utilities and government agencies. Also, nearly everyone can take advantage of the 30% federal tax credit.

  • While paying cash ensures the greatest savings, there are now numerous financing options for solar panels that are also cost-effective. Initial quotes from installers will frequently contain information about available financing options.

  • Yes, in Knoxville, TN, the average time for 5 kW solar panel systems to pay for themselves is 9 years, leading to electricity savings of $17,709.6 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-09-01