Solar Panel Cost Guide in Lawrenceburg, TN (2024 Update)
- Lawrenceburg Solar Installation Cost: $19,572
- 25-Year Savings: $12,785
- Payback Period: 18.5 Years
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Average Cost of Solar Panels in Lawrenceburg
Find out what the average cost of a solar system is in Lawrenceburg.
While the national average of solar panels is $2.66 per watt, solar panels in Lawrenceburg typically cost about 4.The average solar panel system size in Lawrenceburg is around 7.8 kilowatts, meaning a cost of about $19,572 for a solar installation, or $27,988 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar system you want to get, your solar contractor and more.Despite the large upfront cost, the average Lawrenceburg homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lawrenceburg
| Year | Return on Investment |
|---|---|
| 1 years | $-18,046 |
| 3 years | $-14,993 |
| 5 years | $-11,940 |
| 7 years | $-8,887 |
| 9 years | $-5,834 |
| 11 years | $-2,782 |
| 13 years | $271 |
| 15 years | $3,324 |
| 17 years | $6,377 |
| 19 years | $9,430 |
| 21 years | $12,483 |
| 23 years | $15,536 |
| 25 years | $18,589 |
Top Solar Installers in Lawrenceburg
Although it's possible to install solar panels by yourself, it requires extra labor and know-how. For that reason, almost all homeowners choose a solar panel installer. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy consumption, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers near you:
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 Lawrenceburg
Factors that Affect Solar Panel Costs in Lawrenceburg
For many Lawrenceburg homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Lawrenceburg, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,580. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Lawrenceburg homeowners decide to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, 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 getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Lawrenceburg is the company you hire to install your PV system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fits within your budget.
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 | $4,642 | 19.3 years |
| 8 kW | $3.65 | $20,449 | $6,590 | 18.9 years |
| 10 kW | $3.58 | $25,060 | $8,739 | 18.5 years |
| 12 kW | $3.51 | $29,471 | $11,088 | 18.2 years |
| 14 kW | $3.44 | $33,681 | $13,638 | 17.8 years |
| 16 kW | $3.37 | $37,690 | $16,388 | 17.4 years |
| 18 kW | $3.29 | $41,499 | $19,339 | 17.1 years |
| 20 kW | $3.22 | $45,108 | $22,490 | 16.7 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 decide on the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: When making the switch to solar power, it’s crucial to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the project timeline.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
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 Lawrenceburg, TN Solar Cost FAQs
What is the average cost of installing solar panels in Lawrenceburg?
The average cost of solar panels in Lawrenceburg 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 things like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Lawrenceburg?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is it worth going solar in Lawrenceburg?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.