We're here to help you determine whether a solar power system is worth it in Waverly, Tennessee. We'll also answer your questions about how it works and which solar providers and installers are available. See the topics below:

Cost of Solar Panels in Waverly, TN

The figures below show the total cost of solar power in Waverly and the estimated payback or break-even period. The numbers below assumes you want to buy the system outright. You can also get a loan, lease the system, or set up a “power purchase agreement” (PPA). Learn more about payment options.

Residential 5 kW system

 

Estimated system cost: $20,950

(-) Federal tax credit: 30% with no maximum


Final cost after tax credits: $14,665

Est. energy savings per year: $802

Time to recover costs: 18 years 3 months

30-year savings: $9,395

Commercial 50 kW system

 

Estimated system cost: $193,500

(-) Federal tax credit: 30% with no maximum


Final cost after tax credits: $135,450

Est. energy savings per year: $8,021

Time to recover costs: 16 years 11 months

30-year savings: $105,165


Get a quote

 

Sources

State discounts are not calculated due to complex pricing, frequent change, and individual variations such as the property taxes on your home or business. Overall, financial incentives in most of Tennessee are good, so expect to pay less vs. the above. All partner solar power companies will help you determine which incentives you qualify for. You may either request a quote by clicking above or try checking for state solar incentives on DSIRE.org's site here.

Solar Power Companies in Waverly, TN

The following companies do solar power installation and financing in Tennessee.

No solar providers found in Tennessee. Check back soon or request a quote and we'll try to find someone to help.

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While you can install your own solar panels, it's definitely not easy. We strongly recommend working with a professional solar power installer. If you have professional construction and roofing experience feel free to read more about DIY systems.

Should You Get Solar in Waverly?

Obviously only you can decide, but we've collected the following pros and cons for getting solar at a Waverly home or business:

Pros

  • 30% federal incentive extended to 2019
  • Rising electricity costs (+11% in the last 5 years)
  • Good state financial incentives (#14 out of 50)
  • Higher-than-average electrity usage (1248 kWh per month) means more opportunities for savings
  • Moderate sunshine (1.4% above average)

Cons

  • Low grid electricity costs ($.10 per kilowatt-hour) make solar less attractive
  • Very poor policy scores: interconnection (F) | net metering (F)

Is solar worth it in Waverly, TN? Considering all of the above, we think so for most people. Solar is 23.6% less cost effective than the rest of the nation and will pay itself back in around 18 years 3 months for a home buyer. We like to see return times (without state incentives) under 20 years.

Sources

  • Electricity costs, rates of change, and usage from EIA.gov
  • Subsidies analyzed by DecisionData from state websites
  • State policy scores come from freeingthegrid.org
  • Sun data assumes equal zip code weight based on NREL data

Solar Power Savings by Month in Waverly

A 5kW system will save someone in Waverly up to $66.86 on an average month. That's significant given the average Tennessee power bill of $128.51 per month. Here’s a monthly breakdown:

MonthAvailable kW / m2 / dayMax savings / month
Jan3.49$48.82
Feb4.02$51.28
Mar4.82$67.48
Apr5.34$72.35
May5.63$78.79
Jun5.85$79.16
Jul5.65$79.10
Aug5.88$82.30
Sep5.52$74.72
Oct4.86$67.98
Nov4.02$54.43
Dec3.26$45.56

Data based on 1 zip in Waverly, TN. Data reliability is rated excellent.

Savings Methodology

We estimate savings with a system that is very efficient at 19% of energy captured with a standard 5% total system loss. System loss comes from both the unavoidable (system age, electrical dissipation in wiring and connections, etc.) and the avoidable (shade from trees, dust, etc.) Do note that the system will b e slightly less efficient as it ages, too.

For example, August is the highest-sun month in Waverly with an average of 5.88 kW per meter per day. An efficient 5 kW system will cover about 25 square meters depending on the roof. So, the following is the savings calculation for August in Waverly:

5.88 kW/m2 * 25m2 = 147.09 kW/day available

147.09 * 19% efficiency = 27.95 kW/day captured

27.95 kW * 95% system retention = 26.55 kW/day usable

26.55 kW * Tennessee average of $0.10 per kW * 30 days = up to $82.30 in savings in an average August.

These assumptions are very good for the average home in Waverly, but nothing beats the accuracy of getting your own quote.

Other Resources

Solar panel costs and savings: More info on how much solar costs and the factors that can influence your price.

Kilowatts and kilowatt hours: What are kilowatts and how do electric companies charge you?

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