Solar Panel Cost Guide in Medina, TN (2024 Update)
- Medina Solar Installation Cost: $19,640
- 25-Year Savings: $13,578
- Payback Period: 18.0 Years
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Average Cost of Solar Panels in Medina
Find out what the average cost of installing solar panels is in Medina.
In Medina, solar panels cost about 4 per watt on average.Because a 7.8-kW system is needed to cover the energy needs of a typical home in Medina, the average price of going solar will be about $19,640 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Medina homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a sound investment. The average homeowner in Medina can save around $14,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Medina
| Year | Return on Investment |
|---|---|
| 1 years | $-18,152 |
| 3 years | $-15,177 |
| 5 years | $-12,201 |
| 7 years | $-9,225 |
| 9 years | $-6,249 |
| 11 years | $-3,273 |
| 13 years | $-297 |
| 15 years | $2,678 |
| 17 years | $5,654 |
| 19 years | $8,630 |
| 21 years | $11,606 |
| 23 years | $14,582 |
| 25 years | $17,557 |
Top Solar Installers in Medina
Many homeowners decide to hire a solar panel installer since trying to put up solar panels by yourself can be hard. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives you can take advantage of and by offering warranties and repairs.
If you're looking for a solar installer in Medina, the EcoWatch team has put together a list of our top suggestions here:
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 Medina
Factors that Affect Solar Panel Costs in Medina
There are several criteria that can influence your 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
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,580 per kilowatt in Medina.The type of 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. However, higher efficiency could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Medina average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Medina homeowners decide to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your all-in costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $5,216 | 18.7 years |
| 8 kW | $3.65 | $20,449 | $7,355 | 18.4 years |
| 10 kW | $3.58 | $25,060 | $9,695 | 18.0 years |
| 12 kW | $3.51 | $29,471 | $12,235 | 17.7 years |
| 14 kW | $3.44 | $33,681 | $14,976 | 17.3 years |
| 16 kW | $3.37 | $37,690 | $17,918 | 16.9 years |
| 18 kW | $3.29 | $41,499 | $21,060 | 16.6 years |
| 20 kW | $3.22 | $45,108 | $24,402 | 16.2 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Reputation: Solar panel companies 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.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project completion timeline.
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 Medina, TN Solar Cost FAQs
What is the average cost of installing solar panels in Medina?
The average cost of solar panels in Medina 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 kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Medina?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Medina?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Medina?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.