A nonlinear electrical lattice is an effective experimental tool for dealing with nonlinear dispersive media and creating possibilities for the realistic modeling of electrical soliton. In this work, we discuss the dynamical behavior of the governing (1+1)-dimensional time–space Salerno equation, which describes the discrete electrical lattice with nonlinear dispersion. The different kinds of solutions in the form of periodic, Jacobi elliptic, and exponential functions are obtained by the two analytical approaches, namely the modified generalized exponential rational function method (MGERFM) and the extended sinh-Gordon equation expansion method (shGEEM). The MGERF approach is applied to construct exact solitary wave solutions containing trigonometry, hyperbolic and exponential functions, while the extended shGEE technique is employed to obtain periodic wave solutions containing hyperbolic and Jacobi elliptic functions via performing the symbolic computation in the software package MATHEMATICA. Moreover, by means of standard linear-stability analysis, the modulation instability (MI) and the MI gain spectrum is analytically computed for the considered equation. By selecting suitable parametric values, solution profiles are portrayed in order to make the solutions physically relevant. These results yield periodic waves, kink waves, multi-soliton, and their interactions. By comparing the obtained solutions to the previous findings, we can reveal the novelty of the solutions. In addition, all the obtained solutions were verified by substituting them back into the governing equation using the Mathematica software. The acquired results are significant for the study of wave propagation, signal transmission, and applications of super-transmission phenomena.