Solar Panel Cost Guide in Thompson's Station, TN (2024 Update)
- Thompson's Station Solar Installation Cost: $19,919
- 25-Year Savings: $10,303
- Payback Period: 20.6 Years
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Average Cost of Solar Panels in Thompson's Station
We break down average solar pricing in Thompson's Station.
While the national average of solar panels is $2.66 per watt, solar panels in Thompson's Station typically cost about 4.Because a 7.9-kW system is needed to cover the energy consumption of a typical home in Thompson's Station, the average price of going solar will be about $19,919 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar system you want to get, your solar contractor and more.With typical savings of about $12,000 on utility bills over 20 years, many homeowners in Thompson's Station find going solar can pay off big.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Thompson's Station
| Year | Return on Investment |
|---|---|
| 1 years | $-18,354 |
| 3 years | $-15,225 |
| 5 years | $-12,095 |
| 7 years | $-8,966 |
| 9 years | $-5,836 |
| 11 years | $-2,707 |
| 13 years | $423 |
| 15 years | $3,552 |
| 17 years | $6,682 |
| 19 years | $9,811 |
| 21 years | $12,941 |
| 23 years | $16,070 |
| 25 years | $19,200 |
Top Solar Installers in Thompson's Station
When going solar, many homeowners prefer to go with a solar installer since handling can be a difficult project. The payback period of solar panels will vary based on factors like your location and energy use, 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.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Thompson's Station
Factors that Affect Solar Panel Costs in Thompson's Station
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Thompson's Station: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The model of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Thompson's Station offer solar loans, which reduce the initial cost of installing solar panels.However, the interest on solar loans also increases your total costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Thompson's Station, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $2,598 | 21.4 years |
| 8 kW | $3.65 | $20,449 | $3,865 | 21.0 years |
| 10 kW | $3.58 | $25,060 | $5,332 | 20.6 years |
| 12 kW | $3.51 | $29,471 | $7,000 | 20.2 years |
| 14 kW | $3.44 | $33,681 | $8,869 | 19.8 years |
| 16 kW | $3.37 | $37,690 | $10,937 | 19.4 years |
| 18 kW | $3.29 | $41,499 | $13,207 | 19.0 years |
| 20 kW | $3.22 | $45,108 | $15,677 | 18.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
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 Thompson's Station, TN Solar Cost FAQs
How much does it cost to install solar panels in Thompson's Station?
The average cost of solar panels in Thompson's Station is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Thompson's Station?
You can’t get solar panels for free in Thompson's Station. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $607.85 per year.
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 how much sunlight your roof gets. You can take a 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 buy 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.