Solar Panel Cost Guide in Collegedale, TN (2024 Update)
- Collegedale Solar Installation Cost: $19,502
- 25-Year Savings: $6,358
- Payback Period: 24.5 Years
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Average Cost of Solar Panels in Collegedale
We break down average solar pricing in Collegedale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Collegedale, the typical cost of solar panels is 4 per watt.Using this figure, a typical 7.8-kW system would cost about $19,502 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Collegedale see about $10,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Collegedale
| Year | Return on Investment |
|---|---|
| 1 years | $-17,975 |
| 3 years | $-14,922 |
| 5 years | $-11,868 |
| 7 years | $-8,814 |
| 9 years | $-5,760 |
| 11 years | $-2,706 |
| 13 years | $348 |
| 15 years | $3,401 |
| 17 years | $6,455 |
| 19 years | $9,509 |
| 21 years | $12,563 |
| 23 years | $15,617 |
| 25 years | $18,670 |
Top Solar Installers in Collegedale
Putting up solar panels by yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
See all of the solar companies in Collegedale
Factors that Affect Solar Panel Costs in Collegedale
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Collegedale: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Collegedale, 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 gauge by looking at past electricity bills. Your total cost can increase by about $3,580 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Collegedale average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Collegedale homeowners decide to finance their solar panel systems to make going solar more affordable.It’s wise to add 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 back the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Collegedale, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut 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 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 | $3.72 | $15,637 | $-278 | 25.5 years |
| 8 kW | $3.65 | $20,449 | $31 | 25.0 years |
| 10 kW | $3.58 | $25,060 | $540 | 24.5 years |
| 12 kW | $3.51 | $29,471 | $1,249 | 24.0 years |
| 14 kW | $3.44 | $33,681 | $2,159 | 23.5 years |
| 16 kW | $3.37 | $37,690 | $3,269 | 23.0 years |
| 18 kW | $3.29 | $41,499 | $4,580 | 22.5 years |
| 20 kW | $3.22 | $45,108 | $6,091 | 22.0 years |
How to Save on Solar Panels
There are many companies to choose from in Collegedale, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
EcoWatch's Collegedale, TN Solar Cost FAQs
What is the average cost of installing solar panels in Collegedale?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,900 for a 5-kW system and $35,800 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 above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Collegedale?
Leasing solar panels can be an attractive choice, because 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Collegedale?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 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.