Solar Panel Cost Guide in Germantown, TN (2024 Update)
- Germantown Solar Installation Cost: $19,280
- 25-Year Savings: $8,467
- Payback Period: 22.0 Years
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Average Cost of Solar Panels in Germantown
Find out how much it might cost to make the switch to solar in Germantown.
In Germantown, solar panels cost about 4 per watt on average.The average Germantown homeowner needs a 7.7-kilowatt system, which would cost about $19,280 with the federal tax credit, or $27,570 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more.Despite the significant upfront cost, the average Germantown homeowner can save around $11,000 on their power bills over 20 years, which is one of the positives of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Germantown
| Year | Return on Investment |
|---|---|
| 1 years | $-17,772 |
| 3 years | $-14,756 |
| 5 years | $-11,739 |
| 7 years | $-8,722 |
| 9 years | $-5,706 |
| 11 years | $-2,689 |
| 13 years | $328 |
| 15 years | $3,344 |
| 17 years | $6,361 |
| 19 years | $9,378 |
| 21 years | $12,394 |
| 23 years | $15,411 |
| 25 years | $18,428 |
Top Solar Installers in Germantown
Installing solar panels by yourself can be a time-consuming task, which is why using a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be valuable as well, especially if you don’t quite know what brand of solar equipment you need.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our recommendations 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 Germantown
Factors that Affect Solar Panel Costs in Germantown
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Germantown: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,580. The solar equipment you choose can bring your price up or down 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 over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Germantown average.
Solar Financing Terms
Many homeowners find the average cost of solar in Germantown to be prohibitively costly, 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 in most cases, but they also result in a higher cost over time due to interest.Though solar loans make adopting solar energy more accessible for Germantown homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Germantown, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $1,424 | 22.9 years |
| 8 kW | $3.65 | $20,449 | $2,299 | 22.5 years |
| 10 kW | $3.58 | $25,060 | $3,375 | 22.0 years |
| 12 kW | $3.51 | $29,471 | $4,652 | 21.6 years |
| 14 kW | $3.44 | $33,681 | $6,128 | 21.2 years |
| 16 kW | $3.37 | $37,690 | $7,806 | 20.7 years |
| 18 kW | $3.29 | $41,499 | $9,684 | 20.3 years |
| 20 kW | $3.22 | $45,108 | $11,762 | 19.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- 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 do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing 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 Germantown, TN Solar Cost FAQs
What is the average cost of installing solar panels in Germantown?
The average cost of solar panels in Germantown 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 use.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Germantown, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
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 larger 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.