Solar Panel Cost Guide in Bloomingdale, TN (2024 Update)
- Bloomingdale Solar Installation Cost: $20,489
- 25-Year Savings: $17,701
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Bloomingdale
We go over average solar pricing in Bloomingdale.
While the national average of solar panels is $2.66 per watt, solar panels in Bloomingdale typically cost around 4.Using this figure, a typical 8.2-kW system would cost about $20,489 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more.But, once you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Bloomingdale
| Year | Return on Investment |
|---|---|
| 1 years | $-19,104 |
| 3 years | $-16,336 |
| 5 years | $-13,567 |
| 7 years | $-10,799 |
| 9 years | $-8,030 |
| 11 years | $-5,261 |
| 13 years | $-2,493 |
| 15 years | $276 |
| 17 years | $3,044 |
| 19 years | $5,813 |
| 21 years | $8,582 |
| 23 years | $11,350 |
| 25 years | $14,119 |
Top Solar Installers in Bloomingdale
Although you can install solar panels by yourself, it requires extra labor and handiness. That's one of the reasons most people choose to hire a solar panel installer. In addition, if you’d like to maximize your investment in solar energy, opting for a solar company can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our suggestions 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 Bloomingdale
Factors that Affect Solar Panel Costs in Bloomingdale
Though the average cost of a solar system in Bloomingdale is $20,489, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Bloomingdale, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $3,580 for each additional kilowatt you need.The brand of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, 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
Many homeowners find the average cost of solar in Bloomingdale to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.You’ll have to consider the long-term cost of financing options, including the amount of 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Bloomingdale is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different price points.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $7,811 | 16.7 years |
| 8 kW | $3.65 | $20,449 | $10,815 | 16.4 years |
| 10 kW | $3.58 | $25,060 | $14,020 | 16.0 years |
| 12 kW | $3.51 | $29,471 | $17,426 | 15.7 years |
| 14 kW | $3.44 | $33,681 | $21,032 | 15.4 years |
| 16 kW | $3.37 | $37,690 | $24,838 | 15.1 years |
| 18 kW | $3.29 | $41,499 | $28,845 | 14.7 years |
| 20 kW | $3.22 | $45,108 | $33,053 | 14.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- 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 brand 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 offerings before deciding.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Bloomingdale, TN Solar Cost FAQs
How much does it cost to install solar panels in Bloomingdale?
The average cost of solar panels in Bloomingdale is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Bloomingdale?
You can’t get solar panels for free in Bloomingdale. However, you may still be able to afford 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.
Does Bloomingdale have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
On average, solar panels can last 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.