Solar Panel Cost Guide in Smyrna, TN (2024 Update)
- Smyrna Solar Installation Cost: $19,965
- 25-Year Savings: $5,580
- Payback Period: 25.6 Years
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Average Cost of Solar Panels in Smyrna
We go over average solar pricing in Smyrna.
Although the national average of solar panels is $2.66 per watt, solar panels in Smyrna typically cost around 4.Because a 8.0-kW system is needed to cover the energy usage of a typical home in Smyrna, the average price of going solar will be about $19,965 after claiming the federal solar tax credit of 0.
These figures are just estimates, and how much solar costs for you may vary based on factors unique to your home and what company you want to go with.Despite the high initial cost, the average Smyrna homeowner can save about $9,800 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar installer in Smyrna for a quote for your home.
Solar savings over time in Smyrna
| Year | Return on Investment |
|---|---|
| 1 years | $-18,545 |
| 3 years | $-15,705 |
| 5 years | $-12,865 |
| 7 years | $-10,025 |
| 9 years | $-7,185 |
| 11 years | $-4,345 |
| 13 years | $-1,505 |
| 15 years | $1,334 |
| 17 years | $4,174 |
| 19 years | $7,014 |
| 21 years | $9,854 |
| 23 years | $12,694 |
| 25 years | $15,534 |
Top Solar Installers in Smyrna
Installing solar panels by yourself can be a challenging undertaking, which is why getting a solar installation company is a good option for many homeowners. Some solar installers, especially local ones, can help you make the most of incentives in Smyrna, thereby optimizing your ROI.
If you're searching for a solar installer in Smyrna, the EcoWatch team has put together a list of our top suggestions here:
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 Smyrna
Factors that Affect Solar Panel Costs in Smyrna
The cost of installing a solar system in Smyrna can vary by more than $10,000 from home to home. Your actual cost depends on 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 price of solar panels in Smyrna, 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 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 increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 in the long run on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Smyrna average.
Solar Financing Terms
Most solar companies in Smyrna have solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installation company you select will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Smyrna are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $-977 | 26.7 years |
| 8 kW | $3.65 | $20,449 | $-901 | 26.2 years |
| 10 kW | $3.58 | $25,060 | $-625 | 25.6 years |
| 12 kW | $3.51 | $29,471 | $-149 | 25.1 years |
| 14 kW | $3.44 | $33,681 | $528 | 24.6 years |
| 16 kW | $3.37 | $37,690 | $1,405 | 24.1 years |
| 18 kW | $3.29 | $41,499 | $2,483 | 23.6 years |
| 20 kW | $3.22 | $45,108 | $3,761 | 23.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company 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, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project 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 Smyrna, TN Solar Cost FAQs
What is the average cost of installing solar panels in Smyrna?
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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact the value of my home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.