Solar Panel Cost Guide in Thompson's Station, TN (2024 Update)
- Thompson's Station Solar Installation Cost: $19,919
- 25-Year Savings: $10,303
- Payback Period: 20.6 Years
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Average Cost of Solar Panels in Thompson's Station
We break down average solar pricing in Thompson's Station.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Thompson's Station, the typical cost of a solar system is 4 per watt.Using this figure, a typical 7.9-kW system would cost about $19,919 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs will differ based on factors unique to your home and what company you want to go with.Even with the significant upfront cost, the average Thompson's Station 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 ROI and connect with a local solar installer, click the button below.
Solar savings over time in Thompson's Station
| Year | Return on Investment |
|---|---|
| 1 years | $-18,354 |
| 3 years | $-15,225 |
| 5 years | $-12,095 |
| 7 years | $-8,966 |
| 9 years | $-5,836 |
| 11 years | $-2,707 |
| 13 years | $423 |
| 15 years | $3,552 |
| 17 years | $6,682 |
| 19 years | $9,811 |
| 21 years | $12,941 |
| 23 years | $16,070 |
| 25 years | $19,200 |
Top Solar Installers in Thompson's Station
When making the switch to solar, many homeowners prefer to go with a solar company since handling can be a difficult project. Local solar 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’d like to switch to solar energy but still aren’t sure which solar panel installer to go with, here are our recommendations for providers nearby:
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 Thompson's Station
Factors that Affect Solar Panel Costs in Thompson's Station
There are many criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The model of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions 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 searching for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Thompson's Station, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your total costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Thompson's Station, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $2,598 | 21.4 years |
| 8 kW | $3.65 | $20,449 | $3,865 | 21.0 years |
| 10 kW | $3.58 | $25,060 | $5,332 | 20.6 years |
| 12 kW | $3.51 | $29,471 | $7,000 | 20.2 years |
| 14 kW | $3.44 | $33,681 | $8,869 | 19.8 years |
| 16 kW | $3.37 | $37,690 | $10,937 | 19.4 years |
| 18 kW | $3.29 | $41,499 | $13,207 | 19.0 years |
| 20 kW | $3.22 | $45,108 | $15,677 | 18.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Thompson's Station, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Thompson's Station, TN Solar Cost FAQs
How much does it cost to install solar panels in Thompson's Station?
This is a difficult question to answer exactly, because the cost depends on many 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 consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Thompson's Station?
Solar panels aren’t free in Thompson's Station, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $607.85 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.