Solar Panel Cost Guide in Lebanon, TN (2024 Update)
- Lebanon Solar Installation Cost: $20,110
- 25-Year Savings: $9,073
- Payback Period: 21.8 Years
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Average Cost of Solar Panels in Lebanon
Let’s have a look at the average cost of solar panels in Lebanon.
In Lebanon, solar panels cost about 4 per watt on average.The average Lebanon homeowner needs a 8.0-kilowatt system, which would cost about $20,110 with the federal tax credit, or $28,757 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Lebanon homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $11,000 on electricity bills over 20 years, many homeowners in Lebanon find installing solar panels has a decent ROI.
To receive a free quote from a highly rated solar installer in Lebanon, you can click the button below.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-18,593 |
| 3 years | $-15,558 |
| 5 years | $-12,523 |
| 7 years | $-9,487 |
| 9 years | $-6,452 |
| 11 years | $-3,417 |
| 13 years | $-382 |
| 15 years | $2,653 |
| 17 years | $5,688 |
| 19 years | $8,723 |
| 21 years | $11,758 |
| 23 years | $14,793 |
| 25 years | $17,828 |
Top Solar Installers in Lebanon
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Lebanon
Factors that Affect Solar Panel Costs in Lebanon
For many Lebanon homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Lebanon, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Lebanon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,580 for each additional kilowatt you need.The kind of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid choice because they decrease your upfront costs and let you pay for your system over five to seven years on average.Although solar loans make going solar more accessible for Lebanon homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can play a part in determining your pricing. Lebanon’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have 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 | $1,604 | 22.7 years |
| 8 kW | $3.65 | $20,449 | $2,540 | 22.2 years |
| 10 kW | $3.58 | $25,060 | $3,676 | 21.8 years |
| 12 kW | $3.51 | $29,471 | $5,013 | 21.4 years |
| 14 kW | $3.44 | $33,681 | $6,550 | 20.9 years |
| 16 kW | $3.37 | $37,690 | $8,288 | 20.5 years |
| 18 kW | $3.29 | $41,499 | $10,226 | 20.1 years |
| 20 kW | $3.22 | $45,108 | $12,364 | 19.6 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
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 Lebanon, TN Solar Cost FAQs
How much does it cost to install solar panels in Lebanon?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Lebanon?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
Although 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 choose to replace them once you've had 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.