Solar Panel Cost Guide in Smyrna, TN (2024 Update)
- Smyrna Solar Installation Cost: $19,965
- 25-Year Savings: $5,580
- Payback Period: 25.6 Years
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Average Cost of Solar Panels in Smyrna
We go over average solar pricing in Smyrna.
In Smyrna, solar panels cost about 4 per watt on average.Since a 8.0-kW system is needed to cover the energy costs of a typical home in Smyrna, the average price of going solar will be about $19,965 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Smyrna homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the payback for most homeowners is typically good, with a net average savings of about $9,800 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar installer in Smyrna that can help you get a more accurate cost estimate for your home.
Solar savings over time in Smyrna
| Year | Return on Investment |
|---|---|
| 1 years | $-18,545 |
| 3 years | $-15,705 |
| 5 years | $-12,865 |
| 7 years | $-10,025 |
| 9 years | $-7,185 |
| 11 years | $-4,345 |
| 13 years | $-1,505 |
| 15 years | $1,334 |
| 17 years | $4,174 |
| 19 years | $7,014 |
| 21 years | $9,854 |
| 23 years | $12,694 |
| 25 years | $15,534 |
Top Solar Installers in Smyrna
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your swap to solar power much easier. Another upside of using a solar installer is that they can help you make the most of your return of investment by bringing down your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you're searching for a solar company in Smyrna, the EcoWatch team has organized 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 Smyrna
Factors that Affect Solar Panel Costs in Smyrna
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Smyrna: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $3,580 per kilowatt in Smyrna.The model of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular choice because they lower your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Smyrna, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.The company’s size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better 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 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 | $-977 | 26.7 years |
| 8 kW | $3.65 | $20,449 | $-901 | 26.2 years |
| 10 kW | $3.58 | $25,060 | $-625 | 25.6 years |
| 12 kW | $3.51 | $29,471 | $-149 | 25.1 years |
| 14 kW | $3.44 | $33,681 | $528 | 24.6 years |
| 16 kW | $3.37 | $37,690 | $1,405 | 24.1 years |
| 18 kW | $3.29 | $41,499 | $2,483 | 23.6 years |
| 20 kW | $3.22 | $45,108 | $3,761 | 23.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy 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.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like 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 Smyrna, TN Solar Cost FAQs
How much does it cost to install solar panels in Smyrna?
The average cost of solar panels in Smyrna 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 use.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will having solar panels impact my home value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Smyrna?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.