Solar Panels Cost 19k-31k in Loudon, TN | October, 2024

Solar Panels Cost $19k-$31k in Loudon, TN | October, 2024

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

In Loudon, TN in October, 2024, the average price per watt for solar panel systems is estimated at $4.07/W

Each 1 kW (1000 watts) of solar power capacity will cost you $4,070 for installation. Subtracting the 30% federal tax credit, a 5 kW panel install in Loudon generally costs $14,245. Please consider, a 5kW system may not be sufficient to meet your energy requirements.

On the left side, select your county to discover the typical roof size and the maximum capacity of solar panel systems for homes in your area. Displayed below is an analysis of the costs, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Loudon: $14,245US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Loudon: 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.
Loudon: $14,061US Average: $15,784

Solar Potential in Loudon

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

Roof size 876sq. ft.
Capacity 12.25kW DC
Electricity 14.4kkWh AC per yr.

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

The average kWh usage for Loudon residents is 1,226 monthly, with an average electric bill of $143.38. It is crucial to understand that this statistic encompasses the energy consumption of apartments and other compact living spaces.

For October 2024, Loudon, TN's average electricity rate amounts to 11.69¢ per kWh.

In Loudon, a system size of 11 kW or more is required for the average energy user to account for their full power needs. The upfront cost for an 11 kW setup is $44,770, but after a 30% tax credit, your total comes down to $31,340.

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Average solar panel costs by system size in Loudon

On the left side below, you can find a detailed price breakdown for multiple solar panel system sizes installed in Loudon. Naturally, with a more extensive solar system, there will be a larger initial investment, but the advantages consist of higher electricity savings and greater income tax credits.

The breakdown of costs and benefits for solar panels, displayed in the calculator below and to the right, is based on an average electric bill of $143.38 in Loudon. Change the $143.38 to your average bill payment for custom results.

System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,223 a year
Est. Price
$19,943
Savings from a 7kWthis system
  • Est. yearly production 10,191 kWh
  • Est. monthly savings $102
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 6.15 tons a year
  • Equivalent to planting 283 trees a year
  • Equivalent to driving 15,230 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,398 a year
Est. Price
$22,792
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 7.03 tons a year
  • Equivalent to planting 323 trees a year
  • Equivalent to driving 17,405 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,572 a year
Est. Price
$25,641
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 7.91 tons a year
  • Equivalent to planting 363 trees a year
  • Equivalent to driving 19,581 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,747 a year
Est. Price
$28,490
Savings from a 10kWthis system
  • Est. yearly production 14,559 kWh
  • Est. monthly savings $143
  • Full payback in 17 years
Environmental Impacts
  • Reduces CO2 emissions by 8.63 tons a year
  • Equivalent to planting 397 trees a year
  • Equivalent to driving 21,370 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $1,922 a year
Est. Price
$31,339
Savings from a 11kWthis system
  • Est. yearly production 16,015 kWh
  • Est. monthly savings $143
  • Full payback in 18 years
Environmental Impacts
  • Reduces CO2 emissions by 8.63 tons a year
  • Equivalent to planting 397 trees a year
  • Equivalent to driving 21,370 mi less a year

Loudon Solar Panel Installation Incentives & Rebates | 2024

Rural entrepreneurs and farmers might find that the REAP Grant pays for 80% to 100% of their costs when installing photovoltaic or wind energy systems. Believe you might qualify? Use our REAP Grant eligibility tool to confirm your eligibility.

Installing residential solar panels comes with a 30% federal tax credit, accessible to most homeowners, making it a good option for many areas across the country. Additionally, there are numerous state and local incentives to further promote the adoption of solar energy.

Different utilities and governmental bodies in Tennessee offer 2 solar rebate and incentive programs.

Solar incentives in TN

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?

When you intend to live in your home beyond the payback period of your solar system, solar panels are an excellent choice in Loudon. If you install a 5 kW solar system in Loudon, TN, you might save $20,166.2 over 20 years on average, with a break even point at roughly 8 years.

The cost of not having solar panels in Loudon, TN

Beyond missing out on the savings noted above, the absence of solar panels or an alternative backup energy solution leads to total dependency on your electric utility for power. As evidenced by recent news stories, full reliance on your utility company is not always ideal.

Each year, the average number of outages per customer in Loudon County is about 3.25. The average length of an outage is 403.74 minutes. In events like heavy rain and flooding, planned maintenance, or equipment failure, this duration can extend significantly.

Installing a solar panel system, irrespective of whether it features a backup battery, could reduce the pressure of future outages you might encounter.

Power Outages

Currently, 0 customers are being tracked in Loudon County.

Learn more

Customers Out:

0

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

Your Energy Needs - Though the initial cost of larger solar panel systems is larger, the price per watt diminishes as the system gets larger. It is often beneficial for consumers to set up a solar system that can produce enough electricity to offset their electric bill, which results in substantial savings.

Make & Model - Solar panels and mounting equipment, just like many other products, come in different makes and models. The installer’s preference for brand makes it essential to pick a reputable company. Better quality materials often result in a more positive long-term experience for buyers.

Solar Panel Type - There's a good reason why monocrystalline panels are now the industry standard. They have a higher price but are more efficient. Most solar panel installers use panels made of this type of material.

Your Property - Each property and home has its own characteristics. Factors like trees, uneven land, or other impediments can make the installation more challenging. With the use of satellite images, solar installers these days can evaluate your home and include these considerations into the first cost estimate.

Labor Rates - Various wages are offered to employees by various companies, and these costs are transferred to the consumers. Businesses paying more to their employees often garner higher reviews for their services and customer service.

Permitting & Interconnection - Your final installation price will be affected by the permitting and utility interconnection fees, which vary by area. Experienced local installers will include these figures in your initial estimates to guarantee transparency.

See what solar panels cost in other TN cities

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Who are the best solar installers in Loudon?

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.

Loudon, TN Solar Panel Cost FAQs

  • In October, 2024, the typical price per watt for solar panels in Loudon, TN is $4.07/W. The approximate cost of a 5 kW solar panel system in Loudon, TN, after deducting federal tax credits, is $14,245.
  • There are 2 rebates and incentives available in Tennessee from a range of utility providers and government organizations. Additionally, almost everyone is entitled to the 30% federal income tax credit.
  • Cash payments yield the greatest savings, but many financing options for solar panels that are cost-effective are now available. Many installers have financing partners and will provide this information in your initial quotes.
  • Yes, the typical payback time for 5 kW solar panel systems in Loudon, TN is 8 years, and the expected electricity cost savings over 20 years is $20,166.2.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01