Solar Panel Cost Guide in Nashville, NC (Sep 2022)
- Nashville Solar Installation Cost: $12,535
- 25-Year Savings: $23,828
- Payback Period: 8.6 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Nashville
See how much it might cost to switch to solar power in Nashville.
While the national average of solar panels is $2.66 per watt, solar panels in Nashville typically cost around $3. The average solar panel system size in Nashville is around 7.0 kilowatts, meaning a cost of about $12,535 for a solar installation, or $9,276 after the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Nashville homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $20,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar company 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 | $-11,080 |
| 3 years | $-8,171 |
| 5 years | $-5,262 |
| 7 years | $-2,353 |
| 9 years | $556 |
| 11 years | $3,465 |
| 13 years | $6,374 |
| 15 years | $9,283 |
| 17 years | $12,192 |
| 19 years | $15,101 |
| 21 years | $18,010 |
| 23 years | $20,919 |
| 25 years | $23,828 |
Top Solar Installers in Nashville
Although it's possible to install solar panels on your own, it requires extra effort and handiness. Because of that, most homeowners choose to hire a solar panel installer. Also, if you'd like to maximize your investment in solar, using a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Nashville
Factors that Affect Solar Panel Costs in Nashville
The cost of installing a solar system in Nashville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment Size
When it comes to estimating the price of a solar system in Nashville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,540 for each additional kilowatt you need. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Nashville to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $2.64 | $11,095 | $19,842 | 9.0 years |
| 8 kW | $2.59 | $14,508 | $26,741 | 8.8 years |
| 10 kW | $2.54 | $17,780 | $33,782 | 8.6 years |
| 12 kW | $2.49 | $20,909 | $40,965 | 8.4 years |
| 14 kW | $2.44 | $23,896 | $48,290 | 8.3 years |
| 16 kW | $2.39 | $26,741 | $55,758 | 8.1 years |
| 18 kW | $2.34 | $29,444 | $63,368 | 7.9 years |
| 20 kW | $2.29 | $32,004 | $71,120 | 7.8 years |
Solar Incentives in Nashville
| Name | Duke Energy - NC Solar Rebate Program |
| Website | Visit here |
| More Info | Click here |
| Name | Property Tax Abatement for Solar Electric Systems |
| More Info | Click here |
| Name | Active Solar Heating and Cooling Systems Exemption |
| More Info | Click here |
| Name | Duke Energy Progress - Residential Energy Efficiency Rebate Program |
| Website | Visit here |
| More Info | Click here |
| Name | EnergyUnited (Electric) Residential Energy Efficiency Program |
| Website | Visit here |
| More Info | Click here |
| Name | NC GreenPower Production Incentive |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Financing Program for Renewable Energy and Energy Efficiency |
| Incentive Amount | |
| More Info | Click here |
| Name | Local Option - Green Building Incentives |
| More Info | Click here |
| Name | Residential Renewable Energy Tax Credit |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: If you're worried about the durability of your solar system, checking your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Nashville, NC Solar Cost FAQs
How much does it cost to install solar panels in Nashville?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Nashville?
Solar panels aren't free in Nashville, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go for 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 solar panels."
How long do solar panels last in Nashville?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.
