Solar Panels Cost 13k-23k in McMinnville, TN | October, 2024

Solar Panels Cost $13k-$23k in McMinnville, TN | October, 2024

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

On average, in McMinnville, TN in the month of October, 2024, the cost per watt of solar systems is $3.74/W.

Using this price, you should expect to pony up $3,740, on average, for every 1000 watts (or 1 kW) of solar energy your solar panels will need to generate. With a 30% federal tax credit, the average cost for a 5 kW system in McMinnville is approximately $13,090. It's vital to consider that a higher capacity system may be essential to fully meet your energy requirements.

By selecting your county on the left, you can find out the typical roof size and the average maximum capacity for residential solar panel systems in your area. Below is a breakdown of the costs, 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.
McMinnville: $13,090US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
McMinnville: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
McMinnville: $10,498US Average: $15,784

Solar Potential in McMinnville

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

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

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

With an average consumption of 1,047 kWh per month, McMinnville households pay about $121.66 for electricity each month. This data also encompasses the energy consumption patterns of smaller residences, such as apartments.

The electricity rate per kWh in McMinnville, TN for October 2024 is on average 11.62¢.

To satisfy the electricity requirements of an average consumer in McMinnville, a solar panel system of 9 kW or higher is a must. Upfront, a 9 kW solar system is approximately $33,660, with the federal tax credit returning 30% of your investment amount, which cuts down the total to $23,562.

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Average solar panel costs by system size in McMinnville

To the left side and below, you can find the pricing details for multiple sizes of the solar panel systems installed in McMinnville. Naturally, with a more extensive solar system, there will be a greater initial expense, but the advantages include higher electricity savings and larger income tax credits.

Check a cost benefit analysis in the solar panel cost calculator below and to the right, for an average electric bill of $121.66 in McMinnville. Adjust the $121.66 to your usual bill payment for personalized results.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $874 a year
Est. Price
$13,090
Savings from a 5kWthis system
  • Est. yearly production 7,279 kWh
  • Est. monthly savings $73
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.49 tons a year
  • Equivalent to planting 114 trees a year
  • Equivalent to driving 6,170 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,048 a year
Est. Price
$15,708
Savings from a 6kWthis system
  • Est. yearly production 8,735 kWh
  • Est. monthly savings $87
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 2.99 tons a year
  • Equivalent to planting 137 trees a year
  • Equivalent to driving 7,404 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,223 a year
Est. Price
$18,326
Savings from a 7kWthis system
  • Est. yearly production 10,191 kWh
  • Est. monthly savings $102
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 3.49 tons a year
  • Equivalent to planting 160 trees a year
  • Equivalent to driving 8,638 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,398 a year
Est. Price
$20,944
Savings from a 8kWthis system
  • Est. yearly production 11,647 kWh
  • Est. monthly savings $116
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 3.99 tons a year
  • Equivalent to planting 183 trees a year
  • Equivalent to driving 9,872 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,572 a year
Est. Price
$23,562
Savings from a 9kWthis system
  • Est. yearly production 13,103 kWh
  • Est. monthly savings $122
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 4.18 tons a year
  • Equivalent to planting 192 trees a year
  • Equivalent to driving 10,341 mi less a year

McMinnville Solar Panel Installation Incentives & Rebates | 2024

If you run a small business or farm in a rural area, you could receive REAP Grant support that covers 80% to 100% of your photovoltaic or wind turbine installation costs. To determine your eligibility, use our REAP Grant eligibility tool.

Installing residential solar panels comes with a 30% federal tax credit, accessible to almost all homeowners, making it a wise option for numerous areas across the country. Additionally, various state and local programs exist to further support the adoption of solar power.

Several utilities and government organizations in Tennessee currently offer 2 solar rebates and incentives.

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?

For those planning to stay in their home past the solar system's payback period, solar panels are a smart investment in McMinnville. If you install a 5 kW solar system in McMinnville, TN, you might save $16,108.4 over 20 years on average, with a break even point at around 9 years.

The cost of not having solar panels in McMinnville, TN

If you don't install solar panels or an alternative backup power source, you forgo the aforementioned savings and your household is entirely dependent on your electric utility for electricity. Numerous recent news reports have illustrated that total reliance on your utility isn't always the best idea.

In McMinnville, there are about 0.15 outages per customer annually. Each outage lasts an average of 8.18 minutes. In the case of major events such as heavy rain and flooding, vandalism, or equipment failure, this period can increase substantially.

Even without a backup battery, a solar panel system can reduce the stress of future outages you may experience.

Power Outages

Currently, 0 customers are being tracked in Warren County.

Learn more

Customers Out:

0

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

Your Energy Needs - With larger solar panel systems, the cost per watt declines, despite the larger upfront expense. Installing a solar panel system that can fully offset the electric bill is beneficial to homeowners because of the money saved.

Make & Model - There are a wide variety of makes and models of solar panels. The installer’s preference for system makes it crucial to pick a reputable company. Buyers generally find that utilizing higher quality equipment provides a more satisfactory long-term experience.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even though they are costlier, they provide more energy. Most installers work with panels constructed from this material.

Your Property - No two properties or homes are identical. Trees, irregular terrain, or other considerations can increase the difficulty of the installation. These days, the majority of solar installers can use satellite imagery to assess your home and include these elements into the first cost estimate.

Labor Rates - Employees get varying wages from different companies, and these costs are handed down to the consumers. Paying higher wages frequently results in companies receiving better reviews for their services and customer service.

Permitting & Interconnection - Your final installation price will be affected by the permitting and utility interconnection fees, which change by area. Quality local installers will include these figures in your first estimates to provide transparency.

See what solar panels cost in other TN cities

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Who are the best solar installers in McMinnville?

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.

McMinnville, TN Solar Panel Cost FAQs

  • During October, 2024, the average price for solar panel installations in McMinnville, TN is $3.74/W. A 5 kW solar panel system will cost you around $13,090 in McMinnville, TN after the federal tax credit is applied.

  • At present, there are 2 rebates and incentives available to Tennessee residents from various utility and government programs. Furthermore, almost all individuals are entitled to the 30% federal income tax credit.

  • Paying in cash provides the highest savings, but there are multiple financing options available today for solar panels that are also beneficial. Many installers have partnerships with financing companies and will provide this information in your initial quotes.

  • Yes, the payback period for 5 kW solar energy systems in McMinnville, TN averages 9 years, with electricity savings of about $16,108.4 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01