Solar Panels Cost 16k-27k in Lakeland, TN | November, 2024

Solar Panels Cost $16k-$27k in Lakeland, TN | November, 2024

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

In Lakeland, TN, the cost per watt for solar panel installations is about $3.95/W in November, 2024.

Expect to pay $3,950, on average, for every 1000 watts (or 1 kW) of solar energy your panels will need to produce. In Lakeland, you will spend around $13,825 for a 5 kW solar panel install once the 30% federal income tax credit is factored in. Be advised that a more powerful system may be necessary to fully meet your energy needs.

Use the menu on the left to pick your county and find out the average roof size and the average maximum capacity for residential solar on residences in your area. Below, you can see a summary 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.
Lakeland: $13,825US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Lakeland: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Lakeland: $13,468US Average: $16,169

Solar Potential in Lakeland

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

Roof size 715sq. ft.
Capacity 10kW DC
Electricity 12.2kkWh AC per yr.

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

Energy consumers in Lakeland usually pay $138.41 per month for electricity, consuming an average of 1,165 kWh. Compact residences, such as efficiency studios and apartments, are also included in the figures mentioned in the prior sentence.

In November 2024, the electricity rate in Lakeland, TN is 11.88¢ per kWh.

To fully meet the energy requirements of an average user in Lakeland, a solar system of 10 kW or larger is required. The expense for aa 10 kW solar installation is about $39,500 upfront, but with a 30% tax credit, the price decreases to $27,650.

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Average solar panel costs by system size in Lakeland

Shown on the left, you will find a price breakdown for various solar panel system sizes set up in Lakeland. When you opt for a more extensive solar system, the cost is larger, but it also leads to higher electricity savings and a greater income tax credit.

Using the solar panel cost calculator located down and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $138.41 in Lakeland. Modify the $138.41 to your average bill payment for more accurate results.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,048 a year
Est. Price
$16,590
Savings from a 6kWthis system
  • Est. yearly production 8,735 kWh
  • Est. monthly savings $87
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 2.75 tons a year
  • Equivalent to planting 127 trees a year
  • Equivalent to driving 6,819 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,223 a year
Est. Price
$19,355
Savings from a 7kWthis system
  • Est. yearly production 10,191 kWh
  • Est. monthly savings $102
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 3.21 tons a year
  • Equivalent to planting 148 trees a year
  • Equivalent to driving 7,956 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,398 a year
Est. Price
$22,120
Savings from a 8kWthis system
  • Est. yearly production 11,647 kWh
  • Est. monthly savings $116
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 3.67 tons a year
  • Equivalent to planting 169 trees a year
  • Equivalent to driving 9,092 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,572 a year
Est. Price
$24,885
Savings from a 9kWthis system
  • Est. yearly production 13,103 kWh
  • Est. monthly savings $131
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 4.13 tons a year
  • Equivalent to planting 190 trees a year
  • Equivalent to driving 10,229 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,747 a year
Est. Price
$27,650
Savings from a 10kWthis system
  • Est. yearly production 14,559 kWh
  • Est. monthly savings $138
  • Full payback in 17 years
Environmental Impacts
  • Reduces CO2 emissions by 4.35 tons a year
  • Equivalent to planting 200 trees a year
  • Equivalent to driving 10,773 mi less a year

Lakeland Solar Panel Installation Incentives & Rebates | 2024

Between 80% and 100% of your solar or wind turbine installation costs may be covered by the REAP Grant if you own a rural small business or farm. Think you fit this category? Check your qualification with our REAP Grant eligibility tool.

Homeowners can benefit from a 30% federal income tax credit for adding residential solar panels, making solar power a feasible option across much of the country. Additionally, a number of state and local programs are available to promote solar adoption.

Residents of Tennessee can access 2 solar rebate and incentive programs from a range of utilities and governmental organizations.

Solar incentives in TN

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 your plan is to stay in your home past the time it takes to pay off your solar system, opting for solar panels is a good move in Lakeland. Over a 20 year period, a 5 kW solar system in Lakeland, TN could save you around $19,393.4, with the average break even time being 8 years.

The cost of not having solar panels in Lakeland, TN

Apart from missing out on the savings highlighted earlier, not having solar panels or an alternative backup energy source leaves you fully reliant on your electric utility for electricity. The media has demonstrated several cases where complete reliance on your utility isn't always the best scenario.

Recently, the average number of utility outages per customer annually in Lakeland has been about 2.08. On average, an outage lasts 408.6 minutes. When major events such as heavy rain and flooding, aging infrastructure, or wildlife damage occur, these durations can increase significantly

Regardless of whether a backup battery is included or not, a solar panel system could reduce the strain of possible future outages.

Power Outages

Currently, 0 customers are being tracked in Shelby County.

Learn more

Customers Out:

0

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

Your Energy Needs - The cost per watt is reduced with larger solar panel systems, even though the initial cost is higher. A lot of people find it advantageous to set up a solar energy system that can fully cover their entire electric bill. This results in optimal savings.

Make & Model - Similar to many products, solar panels come in a variety of makes and models. The potential system preferences of your contractor mean that it is it's even more vital to select a recommended company. The employment of superior materials is likely to result in a more favorable long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have secured their spot as the industry standard, and for valid reasons. Even with a higher cost, this technology yield more energy. Most installers opt for panels constructed using this material.

Your Property - Each property and home has its own unique features. Irregular terrain, trees, or additional hindrances may add to the difficulty of the installation. These days, satellite images enable many solar installers to assess your home and include these elements into the preliminary cost estimate.

Labor Rates - The varying wages that companies offer their employees lead to costs that are ultimately borne by consumers. Businesses paying more to their employees typically receive higher reviews for their services and customer service.

Permitting & Interconnection - Regional differences in permitting and utility interconnection fees will affect your installation cost. Quality local installers will integrate these numbers into your preliminary quotes to avoid any surprises.

See what solar panels cost in other TN cities

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Who are the best solar installers in Lakeland?

Core Development Group

(201) 825-2195

Services

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

Solar Alliance Southeast

Knoxville, TN(865) 309-4674

Services

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

SunPro Solar

Mandeville, LA(866) 599-3643

Services

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

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • 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.
  • Consulting on all things solar related.

Dividend Finance

Cincinnati, OH(415) 805-7000

Services

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

SunPower Corporation

San Jose, CA(800) 786-7693

Services

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

Silver Sun Solar

Deltona, FL(407) 832-42452

Services

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

Harvest Solar

Jackson, MI(888) 907-6527

Services

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

Sunnova Energy

Houston, TX(866) 786-6682

Services

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

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

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.

LightEdison

Denver, CO(888) 966-6377

Services

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

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

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

Solar Plus

Atlanta, GA(470) 378-1182

Services

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

Lakeland, TN Solar Panel Cost FAQs

  • The average solar panel cost in Lakeland, TN as of November, 2024 is estimated at $3.95/W. In Lakeland, TN, installing a 5 kW solar panel system will set you back approximately $13,825 after federal tax incentives.
  • In Tennessee, you have access to 2 rebates and incentives provided by numerous utilities and government organizations. In addition, the 30% federal income tax credit is available to almost everyone.
  • Although paying in cash offers the most savings, numerous financing options for solar panels now exist that are cost-effective. Many installers have financing partners and will provide this information in your initial quotes.
  • Yes, homeowners in Lakeland, TN generally see a payback time of 8 years for 5 kW solar panel systems, with electricity savings averaging $19,393.4 over a 20-year period.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-11-05