Solar Panel Cost Guide in Waverly, TN (2025 Update)
- Waverly Solar Installation Cost: $19,809
- 25-Year Savings: $11,908
- Payback Period: 19.3 Years
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Average Cost of Solar Panels in Waverly
Find out what the average cost of a solar system is in Waverly.
The national average cost of solar panels is $2.66 per watt, but in Waverly it’s 4 per watt.Using this figure, a typical 7.9-kW system would cost about $19,809 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what installation company you go with.With typical savings of about $13,000 on electricity bills over 20 years, many homeowners in Waverly find investing in solar can pay off big.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-17,996 |
| 3 years | $-14,368 |
| 5 years | $-10,741 |
| 7 years | $-7,114 |
| 9 years | $-3,487 |
| 11 years | $140 |
| 13 years | $3,767 |
| 15 years | $7,394 |
| 17 years | $11,022 |
| 19 years | $14,649 |
| 21 years | $18,276 |
| 23 years | $21,903 |
| 25 years | $25,530 |
Top Solar Installers in Waverly
Trying to install solar panels yourself can be a time-consuming task, which is why hiring a solar installer is a good option for many homeowners. Solar warranties and repairs are often included in the cost of installation when you sign a contract with a solar company too, which can save you more money after your initial investment.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
See all of the solar companies in Waverly
Factors that Affect Solar Panel Costs in Waverly
Though the average cost of a solar system in Waverly is $19,809, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
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 pay around $3,580 per kilowatt in Waverly.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Waverly homeowners choose to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Waverly, and each can charge varying amounts for labor and equipment.Additionally, some companies in Waverly are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $3,859 | 20.1 years |
| 8 kW | $3.65 | $20,449 | $5,546 | 19.7 years |
| 10 kW | $3.58 | $25,060 | $7,434 | 19.3 years |
| 12 kW | $3.51 | $29,471 | $9,522 | 18.9 years |
| 14 kW | $3.44 | $33,681 | $11,811 | 18.5 years |
| 16 kW | $3.37 | $37,690 | $14,300 | 18.1 years |
| 18 kW | $3.29 | $41,499 | $16,990 | 17.7 years |
| 20 kW | $3.22 | $45,108 | $19,880 | 17.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
EcoWatch's Waverly, TN Solar Cost FAQs
What is the average cost of installing solar panels in Waverly?
This is a tough question to answer precisely, because the cost depends on a few different 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your home value 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 Waverly?
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 level 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.