Solar Panel Cost Guide in Nashville, GA (2023 Update)
- Nashville Solar Installation Cost: $11,451
- 25-Year Savings: $21,884
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Nashville
Let's have a look at the average cost of solar in Nashville.
Although the national average of solar panels is $2.66 per watt, solar panels in Nashville generally cost about 2.55. To account for the typical energy usage of the average home in Nashville, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,442, or $16,362 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy usage and what installation company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Nashville can save around $20,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Nashville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Nashville
| Year | Return on Investment |
|---|---|
| 1 years | $-9,857 |
| 3 years | $-6,671 |
| 5 years | $-3,484 |
| 7 years | $-298 |
| 9 years | $2,889 |
| 11 years | $6,075 |
| 13 years | $9,261 |
| 15 years | $12,448 |
| 17 years | $15,634 |
| 19 years | $18,821 |
| 21 years | $22,007 |
| 23 years | $25,194 |
| 25 years | $28,380 |
Top Solar Installers in Nashville
When switching to solar energy, many homeowners decide to hire a solar company since handling can be a time-consuming project. Plus, if you're not certain what brand of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar company in Nashville, we've compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Nashville
Factors that Affect Solar Panel Costs in Nashville
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Nashville: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need 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 $2,550. The brand of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Even though solar loans make switching to solar energy more accessible for Nashville homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Nashville, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.65 | $11,138 | $20,040 | 8.9 years |
| 8 kW | $2.60 | $14,566 | $27,006 | 8.8 years |
| 10 kW | $2.55 | $17,850 | $34,114 | 8.6 years |
| 12 kW | $2.50 | $20,992 | $41,365 | 8.4 years |
| 14 kW | $2.45 | $23,990 | $48,759 | 8.2 years |
| 16 kW | $2.40 | $26,846 | $56,296 | 8.1 years |
| 18 kW | $2.35 | $29,560 | $63,976 | 7.9 years |
| 20 kW | $2.29 | $32,130 | $71,798 | 7.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Nashville, GA Solar Cost FAQs
How much does it cost to install solar panels in Nashville?
The average cost of solar panels in Nashville is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Nashville?
A solar panel system isn't free in Nashville, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,039.28 per year.
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 how much sunlight your roof gets. You can 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 buy between 20 and 35 panels to account for 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.