Solar Panels Cost 16k-27k in Bolivar, TN | October, 2024

Solar Panels Cost $16k-$27k in Bolivar, TN | October, 2024

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How much do solar panels cost in Bolivar, TN in 2024?

In Bolivar, TN, the cost per watt for solar panel systems averages $3.92 per watt in October, 2024.

As a result of this rate per watt, expect costs to be $3,920, on average, for every 1000 watts (or 1 kW) of solar energy your solar system will need to produce. A 5 kW solar panel system in Bolivar is typically approximately $13,720 after accounting for the 30% federal income tax credit. To meet your energy demands, you could need more than a 5kW system.

Use the left-hand menu to select your area and view the typical roof size and the maximum capacity for solar panels on homes in your county. Below, you can see an outline of the price, payback period and 20 year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Bolivar: $13,720US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Bolivar: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Bolivar: $19,467US Average: $15,784

Solar Potential in Bolivar

Estimated system size and solar electricity production per median viable roof in
Bolivar.

Roof size 858sq. ft.
Capacity 12kW DC
Electricity 14.2kkWh AC per yr.

Electricity Costs in Bolivar, TN & What that Means for Your Solar Panel Pricing

The average monthly cost for electricity in Bolivar is $162.78, with typical usage at 1,200 kWh. Flats and other smaller living spaces with reduced energy consumption are accounted for in this statistic.

The average rate for electricity in Bolivar, TN in October, 2024 is 13.56¢ per kWh.

In Bolivar, the typical electricity user needs a solar power setup of 10 kW or larger to account for their entire energy usage requirements. Right now, a 10 kW solar panel installation costs $27,440 when including the 30% federal income tax credit.

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Average solar panel costs by system size in Bolivar

On the left side below, the price breakdown for various sizes of the solar panel systems installed in Bolivar is shown. The larger the solar array, the higher the initial expense, but also the more considerable electricity savings and income tax credits you'll receive.

The breakdown of costs and benefits for solar panels, presented in the calculator down and to the right, is based on an average electric bill of $162.78 in Bolivar. To achieve personalized results, change the $162.78 to reflect your typical electricity payment.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,223 a year
Est. Price
$16,464
Savings from a 6kWthis system
  • Est. yearly production 8,735 kWh
  • Est. monthly savings $102
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.38 tons a year
  • Equivalent to planting 109 trees a year
  • Equivalent to driving 5,895 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,427 a year
Est. Price
$19,208
Savings from a 7kWthis system
  • Est. yearly production 10,191 kWh
  • Est. monthly savings $119
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 2.78 tons a year
  • Equivalent to planting 128 trees a year
  • Equivalent to driving 6,877 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,631 a year
Est. Price
$21,952
Savings from a 8kWthis system
  • Est. yearly production 11,647 kWh
  • Est. monthly savings $136
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 3.18 tons a year
  • Equivalent to planting 146 trees a year
  • Equivalent to driving 7,860 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,834 a year
Est. Price
$24,696
Savings from a 9kWthis system
  • Est. yearly production 13,103 kWh
  • Est. monthly savings $153
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 3.57 tons a year
  • Equivalent to planting 164 trees a year
  • Equivalent to driving 8,842 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,038 a year
Est. Price
$27,440
Savings from a 10kWthis system
  • Est. yearly production 14,559 kWh
  • Est. monthly savings $163
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 3.81 tons a year
  • Equivalent to planting 175 trees a year
  • Equivalent to driving 9,428 mi less a year

Bolivar Solar Panel Installation Incentives & Rebates | 2024

With the REAP Grant, up to 100% and no less than 80% of the installation costs for solar or wind turbines may be covered for rural small business owners and farmers. Curious if you fall into this category? Verify your eligibility with our REAP Grant eligibility tool.

Most homeowners can benefit from the federal 30% income tax credit for solar panels, which renders installing solar energy a logical choice in several regions of the U.S. Besides this, numerous state and local programs aim to further encourage the adoption of solar power.

Tennessee features 2 solar rebate and incentive initiatives offered by multiple utilities and government bodies.

Sales Tax Credit for Clean Energy Technology

Value:Varies

New devices used in the generation, storage, or distribution of "green energy" in Tennessee may be eligible for state sales/use tax exemptions. Qualifying equipment should use solar, wind, geothermal, or hydrogen fuel cell technology and be installed in a Department of Environment-certified facility. To claim the exemption, the installing contractor should submit application paperwork to the Department of Revenue at the time of purchase. The buyer must then fill out a corresponding form. Approved exemptions will be paid as a refund to the contractor.

Pathway Energy Efficiency Loan Program

Value:Varies

Tennessee's Energy Efficiency Loan Program (EELP) is operated by Pathway Lending, a private non-profit operating in multiple states. Through the program, small businesses, local nonprofits, and local governments may obtain special financing for new renewable energy investments and energy efficiency improvements. Repayment plans last up to six years and are typically based on energy savings at below-market interest. To apply, an organization must submit successful proposals and complete an energy audit. Additional information is available from the Pathway Lending website.

Are solar panels worth it in Tennessee?

If you're planning to live in your home past the solar system's payback period, solar panels are a smart decision in Bolivar. If you install a 5 kW solar system in Bolivar, TN, you might save $25,347.2 over 20 years on average, with a break even point at roughly 7 years.

The cost of not having solar panels in Bolivar, TN

Failing to install solar panels or an alternative backup energy results in missing the savings mentioned earlier and being entirely reliant on your electric utility for electricity. The media has demonstrated several cases where full reliance on your utility is not always ideal.

In recent years, the utilities in Bolivar have recorded an average of 1.66 outages per customer annually. Each outage, on average, lasts for 98.56 minutes. In the case of major events like earthquakes, construction accidents, or aging infrastructure, this period can rise substantially.

A solar panel system, whether it has a backup battery or not, could reduce the impact of future power outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Hardeman County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Bolivar, TN?

Your Energy Needs - Even if the initial expense is larger, the price per watt drops with larger solar panel systems. For most homeowners, setting up a system that can make enough power to eliminate their entire electric bill is useful, providing significant savings.

Make & Model - Just like many products, solar panels come in a wide variety of makes and models. It's essential to pick a highly rated installer, given the brand preferences that installers may have. Higher grade makes and models typically result in an better long-term experience for the buyer.

Solar Panel Type - The standard in the industry is now monocrystalline panels, and rightly so. These panels are more expensive, yet they generate more energy. Many installers tend to work with panels constructed from this material.

Your Property - Each property and home has its own characteristics. Factors like trees, sloping terrain, or additional considerations can make the installation more challenging. Nowadays, most solar installers are able to leverage satellite images to evaluate your home and incorporate these factors for the preliminary cost estimate.

Labor Rates - Different companies offer different wages to their employees, and these costs are eventually passed on to the consumers. Businesses paying more to their employees typically garner higher reviews for their work and customer service.

Permitting & Interconnection - Local permitting and utility level interconnection fees change by area and will influence your final install price. Good local installers will build these figures into your preliminary estimates to avoid any surprises.

See what solar panels cost in other TN cities

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Who are the best solar installers in Bolivar?

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Monitoring of independent energy generation.
  • Auditing of energy requirements for independent energy generation.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Tungsten Electric

Nashville-Davidson metropolitan government, TN(615) 491-0206

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.

LightEdison

Denver, CO(888) 966-6377

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.

Solar Plus

Atlanta, GA(470) 378-1182

Services

  • Consulting on all things solar related.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Bolivar, TN Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Bolivar, TN as of October, 2024 is $3.92/W. The cost of installing a 5 kW solar panel system in Bolivar, TN is about $13,720 post federal tax credit.

  • Homeowners in Tennessee can take advantage of 2 different rebates and incentives from a variety of utility companies and government agencies. Additionally, almost everyone is entitled to the 30% federal income tax credit.

  • Although paying in cash provides the most savings, numerous financing options for solar panels now exist that are financially sensible. Many installers will detail information about their financing partners in the initial quotes they provide.

  • Yes, the typical payback time for 5 kW solar panel systems in Bolivar, TN is 7 years, and the expected electricity cost savings over 20 years is $25,347.2.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01