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.
In Lynchburg, solar panels cost about 4 per watt on average.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 the cost of a solar panel system. The true cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.With typical savings of about $11,000 on utility bills over 20 years, many homeowners in Lynchburg find going solar can be quite rewarding.
To calculate your potential savings and connect with a local solar installer, click the button below.
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
Many homeowners opt for a solar installer since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. Another perk of working with a solar company is that they can help you optimize your return of investment by bringing down your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers nearby:
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 Lynchburg
Factors that Affect Solar Panel Costs in Lynchburg
There are many criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the cost of a solar energy system 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 usage, which you can determine by looking at past power bills. Your overall cost can increase by about $3,580 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down 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 over time on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Lynchburg average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Lynchburg homeowners decide to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Lynchburg, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger 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 solar installer you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Contract: Read the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
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 Lynchburg, TN Solar Cost FAQs
What is the average cost of installing solar panels in Lynchburg?
This is a hard question to answer exactly, because the cost depends on a variety of 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. It will cost more if you want extra 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 want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Lynchburg?
Leasing solar panels can be an attractive choice, as it typically 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 option if you want to get the most savings.
Does Lynchburg have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires 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 home 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.