Solar Panel Cost Guide in Martin, TN (2024 Update)
- Martin Solar Installation Cost: $19,780
- 25-Year Savings: $5,513
- Payback Period: 25.7 Years
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Average Cost of Solar Panels in Martin
We break down average solar pricing in Martin.
Although the national average of solar panels is $2.66 per watt, solar panels in Martin typically cost around 4.Using this figure, a typical 7.9-kW system would cost about $19,780 before the 0 federal solar 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 use, the type of solar system you want to get, your solar contractor and more.Even with the significant initial cost, the average Martin homeowner can save around $9,800 on their energy bills over 20 years, which is one of the positives of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Martin
| Year | Return on Investment |
|---|---|
| 1 years | $-18,960 |
| 3 years | $-17,320 |
| 5 years | $-15,680 |
| 7 years | $-14,041 |
| 9 years | $-12,401 |
| 11 years | $-10,761 |
| 13 years | $-9,121 |
| 15 years | $-7,482 |
| 17 years | $-5,842 |
| 19 years | $-4,202 |
| 21 years | $-2,562 |
| 23 years | $-923 |
| 25 years | $717 |
Top Solar Installers in Martin
Many homeowners opt for a solar installation company since trying to install solar panels on your own can be a labor-intensive endeavor. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some 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 Martin
Factors that Affect Solar Panel Costs in Martin
There are many factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,580.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Martin, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Martin is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you’ll have many options for solar installers that offer a range of services at different costs.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $-989 | 26.7 years |
| 8 kW | $3.65 | $20,449 | $-918 | 26.2 years |
| 10 kW | $3.58 | $25,060 | $-646 | 25.7 years |
| 12 kW | $3.51 | $29,471 | $-174 | 25.1 years |
| 14 kW | $3.44 | $33,681 | $499 | 24.6 years |
| 16 kW | $3.37 | $37,690 | $1,372 | 24.1 years |
| 18 kW | $3.29 | $41,499 | $2,446 | 23.6 years |
| 20 kW | $3.22 | $45,108 | $3,720 | 23.1 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Solar Panel Brands: Different companies carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Martin, TN Solar Cost FAQs
How much does it cost to install solar panels in Martin?
The average cost of solar panels in Martin 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Martin?
A solar panel system isn’t free in Martin, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Martin have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Martin?
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 level 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.