Solar Panels Cost $19k-$30k in Lebanon, TN | October, 2024

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

For Lebanon energy consumers, the standard monthly kWh usage is 1,250, with an average electric bill of $143.57. Be mindful that this figure includes data from apartments and other smaller homes with reduced energy consumption.

The electricity rate per kWh in Lebanon, TN for October 2024 averages 11.49¢.

If you’re an average energy user in Lebanon you must have an 11 kW or larger sized system to cover your entire energy demands. Currently, an 11 kW solar panel installation will cost you roughly $43,780at first, but thanks to the 30% federal tax credit, you receive 30% back, bringing the cost down to $30,646.

Are solar panels worth it in Tennessee?

If you plan to own your residence longer than the solar system's payback period, solar panels are a wise investment in Lebanon. Installing a 5 kW solar system in Lebanon, TN will, on average, save you $20,526.8 over 20 years, and you can expect to break even in about 8 years.

The cost of not having solar panels in Lebanon, TN

Not installing solar panels or any other backup energy system leads to missing the earlier mentioned savings and full dependence on your electric utility for electricity. As recent examples in the news have shown, total dependence on your utility provider isn't always the best idea.

In recent years, utilities in Lebanon have had an average of 1.15 outages per customer annually. Usually, outages have an average duration of 61.23 minutes. However, during critical events like hurricanes, aging infrastructure, or wildlife damage, these times can extend dramatically.

Regardless of whether featuring a backup battery or not, a solar panel system can alleviate the strain of possible future outages.

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

Your Energy Needs - Larger solar panel systems have a larger initial cost, yet the average cost per watt falls as the system size expands. Most consumers see the benefit in installing a solar setup that can produce enough power to replace their entire electric bill, ensuring significant savings.

Make & Model - Solar panels and mounting equipment, like many other products, are available in a variety of makes and models. Given the certain system preferences an contractor might have, choosing a reputable contractor is crucial. The utilization of better equipment is likely to yield a more satisfactory long-term experience for buyers.

Solar Panel Type - It's no surprise that monocrystalline panels are now the standard in the industry. These panels cost more but produce more energy. Most installers in the industry work with panels crafted from this material.

Your Property - No two properties or homes are identical. Trees, rough terrain, or other challenges can increase the difficulty of the installation. Nowadays, the majority of solar installers can evaluate your home with satellite images and include these factors in the preliminary cost estimate.

Labor Rates - Various wages are paid to employees by various companies, and these expenses are passed on to the consumers. Companies often get higher reviews for their services and customer service when they pay higher wages.

Permitting & Interconnection - Your final installation price will be impacted by the permitting and utility interconnection fees, which change by area. Reputable local installers will integrate these numbers into your initial quotes to prevent any surprises.