Solar Panels Cost 18k-29k in Springfield, TN | October, 2024

Solar Panels Cost $18k-$29k in Springfield, TN | October, 2024

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

Going solar costs approximately $3.85/W in the month of October, 2024 in Springfield, TN.

Based on the cost per watt, you can conclude that for every 1 kW (1000 watts) of solar power capacity will require an investment of $3,850 for installation. A 5 kW solar panel install in Springfield is typically around $13,475 after accounting for the 30% federal income tax credit. However, it’s vital to realize that a higher capacity system may be necessary to adequately cover your energy needs.

On the left-hand side, you can choose your county to find out the typical roof size and the maximum capacity for solar panels in residences in your area. Outlined below are the costs, 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.
Springfield: $13,475US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Springfield: 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.
Springfield: $15,334US Average: $15,784

Solar Potential in Springfield

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

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

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

The average monthly electricity cost for a Springfield consumer is $144.10, with an average usage of 1,215 kWh. Please note that this statistic covers smaller living spaces such as apartments, with less energy demands.

Springfield, TN's electricity rate is on average 11.86¢ per kWh in October 2024.

Typical consumers in Springfield will need a solar system of 11 kW or larger to meet their entire electricity consumption demands. The price of a an 11 kW solar installation is approximately $42,350 upfront, but the federal tax credit provides a 30% credit, lowering your final cost to $29,645.

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Average solar panel costs by system size in Springfield

On the left side below, the price breakdown for multiple sizes of the solar panel systems set up in Springfield can be seen. With larger solar systems, the price goes up, but so do the electricity savings and the income tax credits you can gain.

In the calculator located to the right and below, you will find a breakdown of solar panel costs and benefits, calculated with an average $144.10 electric bill for Springfield. If you want more customized results, just modify the $144.10 to whichever your typical electricity bill is.

System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,223 a year
Est. Price
$18,865
Savings from a 7kWthis system
  • Est. yearly production 10,191 kWh
  • Est. monthly savings $102
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 2.95 tons a year
  • Equivalent to planting 136 trees a year
  • Equivalent to driving 7,310 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,398 a year
Est. Price
$21,560
Savings from a 8kWthis system
  • Est. yearly production 11,647 kWh
  • Est. monthly savings $116
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 3.38 tons a year
  • Equivalent to planting 155 trees a year
  • Equivalent to driving 8,354 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,572 a year
Est. Price
$24,255
Savings from a 9kWthis system
  • Est. yearly production 13,103 kWh
  • Est. monthly savings $131
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 3.8 tons a year
  • Equivalent to planting 174 trees a year
  • Equivalent to driving 9,398 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,747 a year
Est. Price
$26,950
Savings from a 10kWthis system
  • Est. yearly production 14,559 kWh
  • Est. monthly savings $144
  • Full payback in 16 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
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $1,922 a year
Est. Price
$29,645
Savings from a 11kWthis system
  • Est. yearly production 16,015 kWh
  • Est. monthly savings $144
  • Full payback in 17 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

Springfield Solar Panel Installation Incentives & Rebates | 2024

If you're a rural small business or farm owner, you might be eligible for REAP Grant coverage of between 80% and 100% for your solar or wind turbine project. Believe you fall into this category? Verify your qualification with our REAP Grant eligibility tool.

The 30% federal income tax credit for residential solar is offered to most homeowners, which makes solar energy a wise choice in numerous regions nationwide. There are also a range of state and local efforts aimed at increasing solar energy use.

Various utilities and government organizations in Tennessee have 2 solar rebate and incentive programs.

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 in Springfield looking to stay in their homes past the payback period of their solar system, solar panels make perfect sense. A 5 kW solar system in Springfield, TN might save you an average of $21,109 over 20 years, with the break even point typically being 8 years.

The cost of not having solar panels in Springfield, TN

Forgoing the installation of solar panels or an alternative backup energy source results in missing the earlier mentioned savings and total reliance on your electric utility for power. Several recent examples in the news have revealed that total dependence on your utility company isn't always ideal.

There are about 1.51 outages per customer annually in Robertson County. The typical duration of each outage is 109.97 minutes. When significant events such as tornadoes, equipment failure, or construction accidents occur, these time frames can become much longer.

Owning a solar panel system, with or without a backup battery, could reduce the strain of any future outages you may encounter.

Power Outages

Currently, 0 customers are being tracked in Robertson County.

Learn more

Customers Out:

0

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

Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is greater. Individuals often realize that installing a solar system to offset their electric bill is a beneficial decision, resulting in the most savings.

Make & Model - Solar panels are offered in a range of makes and models. The potential system preferences of your selected installer make it crucial to pick a highly rated company. For a better long-term experience, buyers should consider superior quality makes and models.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They have a higher price but are better at generating energy. The majority of solar panel installers use panels made of this material.

Your Property - Each property and home presents unique challenges. Trees, irregular terrain, or other impediments may complicate the installation process. Today, the many solar installers can evaluate your home with satellite images and factor in these factors in the preliminary cost estimate.

Labor Rates - The varied employee wages paid by companies cause costs that consumers ultimately paying . Companies that invest in higher wages often see higher reviews for their work and customer service.

Permitting & Interconnection - Permitting and utility interconnection fees vary locally and will impact your installation cost. Quality local installers will include these figures in your first estimates to ensure transparency.

See what solar panels cost in other TN cities

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Who are the best solar installers in Springfield?

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.

Springfield, TN Solar Panel Cost FAQs

  • As of October, 2024, the typical cost for solar panels in Springfield, TN is $3.85/W. After federal tax credits, the installation of a 5 kW solar panel system in Springfield, TN is estimated to cost $13,475.

  • Tennessee offers 2 different rebates and incentives from a range of utilities and government organizations. In addition, nearly all people are eligible for the 30%federal tax credit.

  • Even though paying cash yields the most savings, there are now several financing options for solar panels that also are cost-effective. Initial quotes from installers will frequently detail information about available financing options.

  • Yes, the average 5 kW solar panel payback period in Springfield, TN stands at 8 years, yielding average electricity savings of $21,109 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01