With energy prices on the rise this may be the perfect time.
Cost of installing solar panels on residential home in tennessee.
This is lower than the average price of residential solar power systems across the united states which is currently 2 64 per watt.
Installation of panels for the average 5kw system ranges from 11 100 22 400.
Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8.
The most significant incentive to install solar panels for homes and businesses in tennessee is the federal solar tax credit at the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.
Solar panel cost data tennessee 2020 updated.
Federal solar tax credit.
The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.
While i am interested in solar the cost still seems prohibitive.
As of sep 2020 the average cost of solar panels in tennessee is 2 49 per watt making a typical 6000 watt 6 kw solar system 11 038 after claiming the 26 federal solar tax credit now available.
The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.
I was inspired by watching a pbs broadcast the other night indicating the cost for installing solar for the average home was 15 000 18 000.