Solar Panel Cost Guide in Munford, TN (2024 Update)
- Munford Solar Installation Cost: $19,373
- 25-Year Savings: $11,233
- Payback Period: 19.6 Years
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Average Cost of Solar Panels in Munford
See how much it might cost to make the switch to solar in Munford.
The national average cost of solar panels is $2.66 per watt, but in Munford it’s 4 per watt.The average Munford homeowner needs a 7.7-kilowatt system, which would cost about $19,373 with the federal tax credit, or $27,703 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Munford homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Munford see about $13,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Munford
| Year | Return on Investment |
|---|---|
| 1 years | $-17,865 |
| 3 years | $-14,848 |
| 5 years | $-11,832 |
| 7 years | $-8,815 |
| 9 years | $-5,798 |
| 11 years | $-2,782 |
| 13 years | $235 |
| 15 years | $3,252 |
| 17 years | $6,268 |
| 19 years | $9,285 |
| 21 years | $12,302 |
| 23 years | $15,318 |
| 25 years | $18,335 |
Top Solar Installers in Munford
When switching to solar energy, many homeowners opt to go with a solar company since handling can be a challenging project. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for you.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Munford
Factors that Affect Solar Panel Costs in Munford
For many Munford homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Munford, 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
The size of the solar energy 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, you can expect your total to increase by about $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 opt for 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 power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Munford average.
Solar Financing Terms
Most solar companies in Munford offer solar loans, which reduce the initial cost of installing a solar system.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 lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Munford, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.You may see 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 promotions 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 | $3,538 | 20.4 years |
| 8 kW | $3.65 | $20,449 | $5,119 | 20.0 years |
| 10 kW | $3.58 | $25,060 | $6,900 | 19.6 years |
| 12 kW | $3.51 | $29,471 | $8,881 | 19.2 years |
| 14 kW | $3.44 | $33,681 | $11,063 | 18.8 years |
| 16 kW | $3.37 | $37,690 | $13,446 | 18.4 years |
| 18 kW | $3.29 | $41,499 | $16,028 | 18.0 years |
| 20 kW | $3.22 | $45,108 | $18,812 | 17.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Different companies carry various brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Contract: Before you sign a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Munford, TN Solar Cost FAQs
How much does it cost to install solar panels in Munford?
This is a difficult question to answer precisely, because the cost depends on a variety of 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. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Munford?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
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 uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.