Solar Panel Cost Guide in Spring Hill, TN (2024 Update)
- Spring Hill Solar Installation Cost: $19,842
- 25-Year Savings: $10,783
- Payback Period: 20.2 Years
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Average Cost of Solar Panels in Spring Hill
Find out what the average cost of installing solar panels is in Spring Hill.
While the national average of solar panels is $2.66 per watt, solar panels in Spring Hill generally cost around 4.To account for the typical energy usage of the average home in Spring Hill, most homeowners require a 7.9-kilowatt system. Using the figure above, a solar installation costs around $19,842, or $28,374 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.Despite the high upfront cost, the average Spring Hill homeowner can save around $12,000 on their electricity bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Spring Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-18,289 |
| 3 years | $-15,183 |
| 5 years | $-12,077 |
| 7 years | $-8,971 |
| 9 years | $-5,865 |
| 11 years | $-2,759 |
| 13 years | $348 |
| 15 years | $3,454 |
| 17 years | $6,560 |
| 19 years | $9,666 |
| 21 years | $12,772 |
| 23 years | $15,878 |
| 25 years | $18,984 |
Top Solar Installers in Spring Hill
Although it's possible to install solar panels on your own, it involves extra labor and expertise. That's one of the reasons almost all homeowners choose a solar panel installer. The expertise that solar installers offer can be invaluable as well, especially if you don’t quite know what kind of solar equipment you need.
There are a number of licensed solar professionals that can help you install your solar system. 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 Spring Hill
Factors that Affect Solar Panel Costs in Spring Hill
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Spring Hill: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar 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 nearly $3,580. The model of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about 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’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Spring Hill homeowners decide to finance their solar panel systems to offset upfront costs.Although solar loans make adopting solar energy more accessible for Spring Hill homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $2,991 | 21.0 years |
| 8 kW | $3.65 | $20,449 | $4,389 | 20.6 years |
| 10 kW | $3.58 | $25,060 | $5,988 | 20.2 years |
| 12 kW | $3.51 | $29,471 | $7,787 | 19.8 years |
| 14 kW | $3.44 | $33,681 | $9,787 | 19.4 years |
| 16 kW | $3.37 | $37,690 | $11,987 | 19.0 years |
| 18 kW | $3.29 | $41,499 | $14,387 | 18.6 years |
| 20 kW | $3.22 | $45,108 | $16,988 | 18.2 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 picking a company can be difficult, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: The type of solar panel you need to install plays a role in which company you should opt for, since different companies provide different panels.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the 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 Spring Hill, TN Solar Cost FAQs
What is the average cost of installing solar panels in Spring Hill?
The average cost of solar panels in Spring Hill is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind 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 Spring Hill?
Leasing solar panels can be an attractive choice, because it usually 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Spring Hill is currently $497,705, so you could be looking at a value of about $20,406 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Spring Hill is a rewarding investment.
How long do solar panels last in Spring Hill?
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.