Solar Panel Cost Guide in Munford, TN (2024 Update)
- Munford Solar Installation Cost: $19,373
- 25-Year Savings: $11,233
- Payback Period: 19.6 Years
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Average Cost of Solar Panels in Munford
See how much it might cost to make the switch to solar in Munford.
The national average cost of solar panels is $2.66 per watt, but in Munford it’s 4 per watt.To cover the typical energy usage of the average home in Munford, most homeowners require a 7.7-kilowatt system. Using the figure above, a solar installation costs around $19,373, or $27,703 before the federal solar tax credit of 0 is applied.
The actual price you pay can go higher or lower than the average in Munford depending on several factors, such as the type of solar panels you choose and the solar installer you hire.With average savings of about $13,000 on power bills over 20 years, many homeowners in Munford find investing in solar has a decent ROI.
To receive a free quote from a vetted solar company in Munford, you can click the button below.
Solar savings over time in Munford
| Year | Return on Investment |
|---|---|
| 1 years | $-17,865 |
| 3 years | $-14,848 |
| 5 years | $-11,832 |
| 7 years | $-8,815 |
| 9 years | $-5,798 |
| 11 years | $-2,782 |
| 13 years | $235 |
| 15 years | $3,252 |
| 17 years | $6,268 |
| 19 years | $9,285 |
| 21 years | $12,302 |
| 23 years | $15,318 |
| 25 years | $18,335 |
Top Solar Installers in Munford
Although it's possible to install solar panels by yourself, it requires extra energy and expertise. That's why most people choose to hire a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for your family.
If you’d like to switch to 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 Munford
Factors that Affect Solar Panel Costs in Munford
There are many factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,580.The model of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about 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
Many homeowners find the average cost of solar in Munford to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.While solar loans make adopting solar energy more accessible for Munford homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can affect your pricing. Munford’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 undercut them by offering sales and discounts. While the smaller companies might not have access to 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 | $3,538 | 20.4 years |
| 8 kW | $3.65 | $20,449 | $5,119 | 20.0 years |
| 10 kW | $3.58 | $25,060 | $6,900 | 19.6 years |
| 12 kW | $3.51 | $29,471 | $8,881 | 19.2 years |
| 14 kW | $3.44 | $33,681 | $11,063 | 18.8 years |
| 16 kW | $3.37 | $37,690 | $13,446 | 18.4 years |
| 18 kW | $3.29 | $41,499 | $16,028 | 18.0 years |
| 20 kW | $3.22 | $45,108 | $18,812 | 17.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: The brand of solar panel you need plays a role in which company you should choose, since different companies offer different panels.
- Warranty: If you’re concerned about the durability of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: When reading through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive 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 Munford, TN Solar Cost FAQs
How much does it cost to install solar panels in Munford?
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 more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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 install between 20 and 35 panels to cover 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.