Solar Panel Cost Guide in Lynchburg, TN (2024 Update)
- Lynchburg Solar Installation Cost: $19,761
- 25-Year Savings: $7,913
- Payback Period: 22.8 Years
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Average Cost of Solar Panels in Lynchburg
We go over average solar pricing in Lynchburg.
The national average cost of solar panels is $2.66 per watt, but in Lynchburg it’s 4 per watt.Using this figure, a typical 7.9-kW system would cost about $19,761 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what company you go with.With average savings of about $11,000 on utility bills over 20 years, many homeowners in Lynchburg find investing in solar has a decent ROI.
Click the button below to get connected to a highly rated solar installer in your area for a personalized quote.
Solar savings over time in Lynchburg
| Year | Return on Investment |
|---|---|
| 1 years | $-18,197 |
| 3 years | $-15,067 |
| 5 years | $-11,938 |
| 7 years | $-8,808 |
| 9 years | $-5,679 |
| 11 years | $-2,549 |
| 13 years | $580 |
| 15 years | $3,710 |
| 17 years | $6,839 |
| 19 years | $9,969 |
| 21 years | $13,098 |
| 23 years | $16,228 |
| 25 years | $19,357 |
Top Solar Installers in Lynchburg
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar company can make your swap to solar power much easier. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
If you’d like to switch to solar energy but still aren’t certain which solar system company to go with, here are our recommendations for providers in Lynchburg:
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 Lynchburg
Factors that Affect Solar Panel Costs in Lynchburg
The cost of installing a solar system in Lynchburg can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Lynchburg, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $3,580 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Lynchburg, 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 Lynchburg homeowners opt to finance their solar panel systems to make paying for 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 higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can influence your pricing. Lynchburg’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $841 | 23.7 years |
| 8 kW | $3.65 | $20,449 | $1,522 | 23.3 years |
| 10 kW | $3.58 | $25,060 | $2,404 | 22.8 years |
| 12 kW | $3.51 | $29,471 | $3,486 | 22.4 years |
| 14 kW | $3.44 | $33,681 | $4,769 | 21.9 years |
| 16 kW | $3.37 | $37,690 | $6,252 | 21.4 years |
| 18 kW | $3.29 | $41,499 | $7,936 | 21.0 years |
| 20 kW | $3.22 | $45,108 | $9,820 | 20.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Lynchburg, TN Solar Cost FAQs
What is the average cost of installing solar panels in Lynchburg?
This is a difficult question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Lynchburg?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Lynchburg?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.