Solar Panel Cost Guide in Bristol, TN (2024 Update)
- Bristol Solar Installation Cost: $20,489
- 25-Year Savings: $18,472
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Bristol
See how much it might cost to go solar in Bristol.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bristol, the average cost of solar panels is 4 per watt.The average Bristol homeowner needs a 8.2-kilowatt system, which would cost about $20,489 with the federal tax credit, or $29,299 before the 0 tax credit is applied.
These figures are only averages, and how much solar costs for you may vary based on the amount of energy your home requires and what company you go with.With average savings of about $15,000 on energy bills over 20 years, many homeowners in Bristol find installing solar panels can be quite rewarding.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Bristol
| Year | Return on Investment |
|---|---|
| 1 years | $-19,401 |
| 3 years | $-17,224 |
| 5 years | $-15,048 |
| 7 years | $-12,872 |
| 9 years | $-10,695 |
| 11 years | $-8,519 |
| 13 years | $-6,343 |
| 15 years | $-4,167 |
| 17 years | $-1,990 |
| 19 years | $186 |
| 21 years | $2,362 |
| 23 years | $4,539 |
| 25 years | $6,715 |
Top Solar Installers in Bristol
When making the switch to solar, many homeowners decide to hire a solar installer since putting up solar panels yourself can be a challenging project. Another upside of working with a solar company is that they can help you make the most of your ROI by reducing your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you're searching for a solar installer in Bristol, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Bristol
Factors that Affect Solar Panel Costs in Bristol
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Bristol: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $3,580 per kilowatt in Bristol.The brand and type 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 often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Bristol homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s important to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can affect how much you pay. Bristol’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $3.72 | $15,637 | $8,376 | 16.3 years |
| 8 kW | $3.65 | $20,449 | $11,570 | 16.0 years |
| 10 kW | $3.58 | $25,060 | $14,963 | 15.7 years |
| 12 kW | $3.51 | $29,471 | $18,557 | 15.3 years |
| 14 kW | $3.44 | $33,681 | $22,352 | 15.0 years |
| 16 kW | $3.37 | $37,690 | $26,347 | 14.7 years |
| 18 kW | $3.29 | $41,499 | $30,542 | 14.4 years |
| 20 kW | $3.22 | $45,108 | $34,938 | 14.1 years |
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 pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model offers 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.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Bristol, TN Solar Cost FAQs
What is the average cost of installing solar panels in Bristol?
The average cost of solar panels in Bristol is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Bristol?
Leasing solar panels can be an appealing choice, as it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose 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 a solar system."
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.