Solar Panel Cost Guide in Bloomingdale, TN (2023 Update)
- Bloomingdale Solar Installation Cost: $14,251
- 25-Year Savings: $17,701
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bloomingdale
See how much it might cost to make the switch to solar in Bloomingdale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bloomingdale, the average cost of a solar system is 2.49 per watt. The average Bloomingdale homeowner needs a 8.2-kilowatt system, which would cost about $14,258 with the federal tax credit, or $20,389 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Bloomingdale homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
Click the button below to get connected to a highly rated solar installer in Bloomingdale for a personalized quote.
Solar savings over time in Bloomingdale
| Year | Return on Investment |
|---|---|
| 1 years | $-14,144 |
| 3 years | $-13,931 |
| 5 years | $-13,718 |
| 7 years | $-13,505 |
| 9 years | $-13,292 |
| 11 years | $-13,079 |
| 13 years | $-12,866 |
| 15 years | $-12,653 |
| 17 years | $-12,440 |
| 19 years | $-12,227 |
| 21 years | $-12,014 |
| 23 years | $-11,801 |
| 25 years | $-11,588 |
Top Solar Installers in Bloomingdale
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring an installer can make swapping over to solar power much easier. Some solar companies, particularly local ones, can help you make the most of incentives in Bloomingdale, thereby optimizing your ROI.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Bloomingdale
Factors that Affect Solar Panel Costs in Bloomingdale
There are several factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of solar panels in Bloomingdale, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by about $2,490 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Bloomingdale, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Bloomingdale homeowners opt to finance their solar panel systems to make going solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.59 | $10,876 | $12,572 | 11.6 years |
| 8 kW | $2.54 | $14,223 | $17,041 | 11.4 years |
| 10 kW | $2.49 | $17,430 | $21,650 | 11.2 years |
| 12 kW | $2.44 | $20,498 | $26,399 | 10.9 years |
| 14 kW | $2.39 | $23,426 | $31,287 | 10.7 years |
| 16 kW | $2.34 | $26,215 | $36,314 | 10.5 years |
| 18 kW | $2.29 | $28,864 | $41,481 | 10.3 years |
| 20 kW | $2.24 | $31,374 | $46,787 | 10.0 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Bloomingdale, TN Solar Cost FAQs
How much does it cost to install solar panels in Bloomingdale?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $12,450 for a 5-kW system and $24,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Bloomingdale?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.