Solar Panel Cost Guide in Waverly, TN (2024 Update)
- Waverly Solar Installation Cost: $19,809
- 25-Year Savings: $11,908
- Payback Period: 19.3 Years
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Average Cost of Solar Panels in Waverly
Find out what the average cost of a solar system is in Waverly.
The average cost of a solar panel system in Waverly is 4 per watt.Since a 7.9-kW system is needed to cover the energy costs of a typical home in Waverly, the average price of going solar will be about $19,809 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 actual cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy usage and what installation company you go with.With typical savings of about $13,000 on power bills over 20 years, many homeowners in Waverly find going solar can be quite rewarding.
Click the button below to get connected to a reputable solar panel company in Waverly for a personalized quote.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-17,996 |
| 3 years | $-14,368 |
| 5 years | $-10,741 |
| 7 years | $-7,114 |
| 9 years | $-3,487 |
| 11 years | $140 |
| 13 years | $3,767 |
| 15 years | $7,394 |
| 17 years | $11,022 |
| 19 years | $14,649 |
| 21 years | $18,276 |
| 23 years | $21,903 |
| 25 years | $25,530 |
Top Solar Installers in Waverly
Many homeowners opt for a solar panel installer since installing solar panels yourself can be hard. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Waverly
Factors that Affect Solar Panel Costs in Waverly
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Waverly: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to install 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
Many homeowners find the average cost of solar in Waverly to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time because of interest.You’ll have to consider the long-term cost of financing options, including the total 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 securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Waverly, and each can charge varying amounts for labor and equipment.Additionally, some companies in Waverly have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $3,859 | 20.1 years |
| 8 kW | $3.65 | $20,449 | $5,546 | 19.7 years |
| 10 kW | $3.58 | $25,060 | $7,434 | 19.3 years |
| 12 kW | $3.51 | $29,471 | $9,522 | 18.9 years |
| 14 kW | $3.44 | $33,681 | $11,811 | 18.5 years |
| 16 kW | $3.37 | $37,690 | $14,300 | 18.1 years |
| 18 kW | $3.29 | $41,499 | $16,990 | 17.7 years |
| 20 kW | $3.22 | $45,108 | $19,880 | 17.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a good company.
- 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 need to know with your solar company, such as what permits you should secure and how long the project will take.
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 Waverly, TN Solar Cost FAQs
What is the average cost of installing solar panels in Waverly?
This is a difficult question to answer precisely, 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 other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
The initial 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 consider are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Waverly is currently $210,947, which means you can expect a value of about $8,649 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Waverly is a rewarding investment.
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 amount 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.