Solar Panel Cost Guide in Lawrenceburg, TN (2024 Update)
- Lawrenceburg Solar Installation Cost: $19,572
- 25-Year Savings: $12,785
- Payback Period: 18.5 Years
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Average Cost of Solar Panels in Lawrenceburg
Find out what the average cost of a solar system is in Lawrenceburg.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lawrenceburg, the typical cost of solar panels is 4 per watt.Since a 7.8-kW system is needed to cover the energy costs of a typical home in Lawrenceburg, the average price of going solar will be about $19,572 after claiming the federal solar tax credit of 0.
The true price you pay can go above or below the average in Lawrenceburg based on several factors, such as the kind of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on power bills.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lawrenceburg
| Year | Return on Investment |
|---|---|
| 1 years | $-18,046 |
| 3 years | $-14,993 |
| 5 years | $-11,940 |
| 7 years | $-8,887 |
| 9 years | $-5,834 |
| 11 years | $-2,782 |
| 13 years | $271 |
| 15 years | $3,324 |
| 17 years | $6,377 |
| 19 years | $9,430 |
| 21 years | $12,483 |
| 23 years | $15,536 |
| 25 years | $18,589 |
Top Solar Installers in Lawrenceburg
Although it's possible to install solar panels by yourself, it takes extra energy and expertise. Because of that, almost all homeowners choose a solar panel installer. Plus, if you’d like to maximize your investment in solar energy, going with a solar company can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers near you:
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 Lawrenceburg
Factors that Affect Solar Panel Costs in Lawrenceburg
For many Lawrenceburg homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Lawrenceburg, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,580. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
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 Lawrenceburg homeowners choose to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your total costs, so it’s vital 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
The solar company you pick will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Some companies only sell high-quality, high-efficiency and high-price products — 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 find a company that offers the products, warranties and services you want and also fits within 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 | $3.72 | $15,637 | $4,642 | 19.3 years |
| 8 kW | $3.65 | $20,449 | $6,590 | 18.9 years |
| 10 kW | $3.58 | $25,060 | $8,739 | 18.5 years |
| 12 kW | $3.51 | $29,471 | $11,088 | 18.2 years |
| 14 kW | $3.44 | $33,681 | $13,638 | 17.8 years |
| 16 kW | $3.37 | $37,690 | $16,388 | 17.4 years |
| 18 kW | $3.29 | $41,499 | $19,339 | 17.1 years |
| 20 kW | $3.22 | $45,108 | $22,490 | 16.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
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 Lawrenceburg, TN Solar Cost FAQs
How much does it cost to install solar panels in Lawrenceburg?
The average cost of solar panels in Lawrenceburg 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 consume.
Should I lease or buy solar panels in Lawrenceburg?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside 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.
Is it worth going solar in Lawrenceburg?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses 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 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.