Solar Panel Cost Guide in Bolivar, TN (2024 Update)
- Bolivar Solar Installation Cost: $19,334
- 25-Year Savings: $9,571
- Payback Period: 21.0 Years
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Average Cost of Solar Panels in Bolivar
We break down average solar pricing in Bolivar.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bolivar, the average cost of solar panels is 4 per watt.The average Bolivar homeowner needs a 7.7-kilowatt system, which would cost about $19,334 with the federal tax credit, or $27,648 before the 0 tax credit is applied.
The true price you pay can go higher or lower than the average in Bolivar depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire.Many homeowners find installing a solar panel system is a sound investment. The average homeowner in Bolivar can save about $12,000 on their power bills over 20 years.
To receive a free quote from a highly rated solar installation company in Bolivar, you can click the button below.
Solar savings over time in Bolivar
| Year | Return on Investment |
|---|---|
| 1 years | $-17,636 |
| 3 years | $-14,239 |
| 5 years | $-10,842 |
| 7 years | $-7,445 |
| 9 years | $-4,047 |
| 11 years | $-650 |
| 13 years | $2,747 |
| 15 years | $6,144 |
| 17 years | $9,541 |
| 19 years | $12,938 |
| 21 years | $16,335 |
| 23 years | $19,732 |
| 25 years | $23,129 |
Top Solar Installers in Bolivar
Although it's possible to install solar panels by yourself, it takes extra effort and handiness. That's one of the reasons almost all homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance in the long run.
If you're looking for a solar installer in Bolivar, we've put together a list of our top suggestions here:
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 Bolivar
Factors that Affect Solar Panel Costs in Bolivar
For many Bolivar homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Bolivar, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The model of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond 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 researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Bolivar to be too costly, even if the investment pays off over time. Thankfully, 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 because of 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Bolivar is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different price points.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, 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 | $2,264 | 21.8 years |
| 8 kW | $3.65 | $20,449 | $3,419 | 21.4 years |
| 10 kW | $3.58 | $25,060 | $4,775 | 21.0 years |
| 12 kW | $3.51 | $29,471 | $6,332 | 20.6 years |
| 14 kW | $3.44 | $33,681 | $8,089 | 20.2 years |
| 16 kW | $3.37 | $37,690 | $10,046 | 19.7 years |
| 18 kW | $3.29 | $41,499 | $12,204 | 19.3 years |
| 20 kW | $3.22 | $45,108 | $14,563 | 18.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
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 Bolivar, TN Solar Cost FAQs
How much does it cost to install solar panels in Bolivar?
This is a tough question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places 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.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bolivar is currently $135,547, so you can expect a value of about $5,557 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Bolivar is a fruitful investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.