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

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

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

Typically, in Munford, TN in the month of October, 2024, the cost per each watt for solar panel systems is $3.92/W.

In accordance with the price, you can conclude that for every 1 kW (1000 watts) your solar system can generate you will need to invest $3,920 to get your panels installed. After receiving the 30% federal tax credit, a 5 kW solar panel install in Munford sets you back $13,720. Be aware that a larger system might be required to fulfill your energy requirements.

To the left,choose your area to find out the average roof size and the average maximum capacity of solar panel systems for homes in your county. Below is a full analysis of the price, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Munford: $13,720US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Munford: 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.
Munford: $19,390US Average: $15,784

Solar Potential in Munford

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

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

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

On average, Munford residents use 1,288 kWh each month, and the electric bill is $162.46. Bear in mind that this figure incorporates data from both apartments and smaller homes with reduced energy requirements.

In October 2024, the electricity rate in Munford, TN is on average 12.61¢ per kWh.

Average electricity users in Munford may want a solar panel system with a generation capacity of 11 kW or more to satisfy their full electricity usage needs. At the moment, an 11 kW solar installation will cost you roughly $43,120upfront, but thanks to the 30% federal tax credit, you receive 30% back, reducing the total to $30,184.

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Average solar panel costs by system size in Munford

Below on the left side, there is the cost breakdown for multiple sizes of solar panel systems set up in Munford. Even though a larger solar installation carries a larger expense, it also offers higher electricity savings and larger income tax credits.

In the calculator provided to the right and below, you will find a breakdown of solar panel costs and benefits, calculated with an average $162.46 electric bill for Munford. Adjust the $162.46 to your average electricity bill payment for results that are tailored to you.

System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,325 a year
Est. Price
$19,208
Savings from a 7kWthis system
  • Est. yearly production 10,191 kWh
  • Est. monthly savings $110
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 2.84 tons a year
  • Equivalent to planting 131 trees a year
  • Equivalent to driving 7,039 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,514 a year
Est. Price
$21,952
Savings from a 8kWthis system
  • Est. yearly production 11,647 kWh
  • Est. monthly savings $126
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 3.25 tons a year
  • Equivalent to planting 149 trees a year
  • Equivalent to driving 8,045 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,703 a year
Est. Price
$24,696
Savings from a 9kWthis system
  • Est. yearly production 13,103 kWh
  • Est. monthly savings $142
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 3.66 tons a year
  • Equivalent to planting 168 trees a year
  • Equivalent to driving 9,050 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,893 a year
Est. Price
$27,440
Savings from a 10kWthis system
  • Est. yearly production 14,559 kWh
  • Est. monthly savings $158
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 4.06 tons a year
  • Equivalent to planting 187 trees a year
  • Equivalent to driving 10,056 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $2,082 a year
Est. Price
$30,184
Savings from a 11kWthis system
  • Est. yearly production 16,015 kWh
  • Est. monthly savings $162
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 4.17 tons a year
  • Equivalent to planting 192 trees a year
  • Equivalent to driving 10,329 mi less a year

Munford Solar Panel Installation Incentives & Rebates | 2024

Small businesses and farms in rural areas may see between 80% and 100% of their solar or wind turbine installation costs covered by the REAP Grant. Wondering if you fall into this category? Check your eligibility with our REAP Grant eligibility tool.

Almost all homeowners can benefit from the 30% federal income tax credit for residential solar, making solar energy a sensible option across most parts of the country. Alongside federal incentives, there are many state and local efforts to encourage solar energy adoption.

Several utilities and government agencies 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 homeowners in Munford planning to remain in their homes after the payback period for solar panels, solar energy is a sensible choice. In Munford, TN, a 5 kW solar system installation might save you $25,270.4 on average over 20 years, with a typical break even point of 7 years.

The cost of not having solar panels in Munford, TN

Besides missing out on the aforementioned savings, not having solar panels or a different backup energy source makes you fully reliant on your electric utility for electricity. The news has provided several examples demonstrating that full reliance on your utility is not always ideal.

The utilities in Munford have averaged about 2.76 outages per customer per year in recent years. Usually, outages have an average duration of 163.98 minutes. However, during critical events like planned maintenance, grid management errors or winter storms, these times can extend dramatically.

A solar panel system, with or without a backup battery or not, could reduce the impact of future power outages you might face.

Power Outages

Currently, 0 customers are being tracked in Tipton County.

Learn more

Customers Out:

0

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

Your Energy Needs - Even though larger solar panel systems have a larger initial cost, the cost per watt drops. For most individuals, setting up a system that can produce enough power to reduce their entire electric bill is useful, providing significant savings.

Make & Model - Similar to many other products, there are a variety of makes and models of solar panels on the market. The potential brand preferences of your installer mean that it is it's even more necessary to pick a highly rated company. Choosing superior quality materials generally yields a more favorable long-term experience for the buyer.

Solar Panel Type - For good reasons, monocrystalline panels have emerged as the standard in the industry. Even though they are costlier, they generate additional energy. The majority of installers use panels crafted from this material.

Your Property - Each property and home has its own characteristics. Factors like irregular terrain, trees, or other challenges can make the installation more challenging. Nowadays, solar installers commonly leverage satellite images to evaluate your home and incorporate these considerations into the preliminary cost estimate.

Labor Rates - Companies offer varying pay rates to their employees, which are then passed on to the prices consumers pay. Businesses that invest in higher wages often see higher reviews for their services and customer service.

Permitting & Interconnection - Regional differences in permitting and utility interconnection fees will affect your installation cost. Reliable local installers will incorporate 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 Munford?

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.

Munford, TN Solar Panel Cost FAQs

  • In October, 2024, the typical price per watt for solar panels in Munford, TN is $3.92/W. After the federal tax credit, the estimated cost for a 5 kW solar panel system in Munford, TN is roughly $13,720.

  • Residents of Tennessee can currently take advantage of 2 rebates and incentives offered by various utilities and government bodies. In addition, the 30% federal income tax credit is available to almost everyone.

  • Paying in cash provides the highest savings, but there are several financing options available today for solar panels that are also financially advantageous. Many installers will detail information about financing options in their initial quotes.

  • Yes, in Munford, TN, the average time for 5 kW solar panel systems to pay for themselves is 7 years, leading to electricity savings of $25,270.4 over a 20-year period.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01