Solar Panel Cost Guide in Medina, TN (2024 Update)
- Medina Solar Installation Cost: $19,640
- 25-Year Savings: $13,578
- Payback Period: 18.0 Years
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Average Cost of Solar Panels in Medina
Find out what the average cost of installing solar panels is in Medina.
In Medina, solar panels cost about 4 per watt on average.Because a 7.8-kW system is needed to cover the energy consumption of a typical home in Medina, the average price of going solar will be about $19,640 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy usage and what company you go with.Many homeowners find installing a solar system is a solid investment. The average homeowner in Medina can save about $14,000 on their power bills over 20 years.
To get a free quote from a highly rated solar installer in Medina, you can click the button below.
Solar savings over time in Medina
| Year | Return on Investment |
|---|---|
| 1 years | $-18,152 |
| 3 years | $-15,177 |
| 5 years | $-12,201 |
| 7 years | $-9,225 |
| 9 years | $-6,249 |
| 11 years | $-3,273 |
| 13 years | $-297 |
| 15 years | $2,678 |
| 17 years | $5,654 |
| 19 years | $8,630 |
| 21 years | $11,606 |
| 23 years | $14,582 |
| 25 years | $17,557 |
Top Solar Installers in Medina
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be hard. The payback period of solar panels will vary depending on factors like your roof configuration and energy consumption, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some 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 Medina
Factors that Affect Solar Panel Costs in Medina
Even though the average cost of a solar system in Medina is $19,640, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,580 per kilowatt in Medina.There are many different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Medina have solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also increases your total costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Medina, and each can charge different amounts for labor and equipment.The company’s size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better 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 lower to compete with bigger names.
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 | $5,216 | 18.7 years |
| 8 kW | $3.65 | $20,449 | $7,355 | 18.4 years |
| 10 kW | $3.58 | $25,060 | $9,695 | 18.0 years |
| 12 kW | $3.51 | $29,471 | $12,235 | 17.7 years |
| 14 kW | $3.44 | $33,681 | $14,976 | 17.3 years |
| 16 kW | $3.37 | $37,690 | $17,918 | 16.9 years |
| 18 kW | $3.29 | $41,499 | $21,060 | 16.6 years |
| 20 kW | $3.22 | $45,108 | $24,402 | 16.2 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process works and the completion timeline.
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 Medina, TN Solar Cost FAQs
How much does it cost to install solar panels in Medina?
This is a difficult 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 cost more if you want extra 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 Medina?
Leasing solar panels can be an attractive choice, as it usually 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 option if you want to get the most savings.
Can you sell solar power back to the grid in Medina?
The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having 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.