Tennessee Solar Power Rebates, Tax Credits, and Incentives

STATE LEGISLATION
NET-METERING
STATE INCENTIVE PROGRAMS, UTILITY REBATES, UTILITY LOANS, AND UTILITY INCENTIVES
Production Incentive
* TVA - Green Power Switch Generation Partners Program
State Grant Program
* Tennessee Clean Energy Technology Grant
State Loan Program
* Local Government Energy Loan Program
* Small Business Energy Loan Program
Utility Loan Program
* Bristol Tennessee Electric Service - Energy Savings Loan Program
Utility Rebate Program
* Cleveland Utilities - Energy Efficient Home Rebate Program
* Clinton Utilities Board - Energy Efficient Water Heater Rebate Program
* Cookeville Electric Department - Energy Right Residential Rebate Program
* Cumberland EMC - Energy Right New Homes Program
* Electric Power Board of Chattanooga - Builders & Developers Energy Right Home Program
* Electric Power Board of Chattanooga - Residential Energy Right Water Heater Program
* Gibson Electric Membership Corporation - Energy Right New Homes Program
* Jackson Energy Authority - Builders & Developers Energy Right Home Program
* Lawrenceburg Utility Systems - Residential Energy Right New Homes Program
* Meriwether Lewis Electric Cooperative - Residential Energy Efficiency Rebate Program
* Middle Tennessee EMC - Residential Energy Efficiency Rebate Program
* Milan Public Utilities - Builders & Developers Energy Right Home Program
* Murfreesboro Electric Department - Energy Right New Home Rebate Program
* Murfreesboro Electric Department - Energy Right Water Heater Rebate Program
* Sequachee Valley Electric Cooperative - Residential Energy Right Rebate Program
* Sevier County Electric System - Energy Efficient Water Heater Rebate Program
* Southwest Tennessee EMC - Residential Energy Efficiency Rebate Program
* Upper Cumberland EMC - Residential Energy Efficiency Rebate Program
* Volunteer Energy Cooperative - Energy Right New Home Program
* Volunteer Energy Cooperative - Residential Energy Efficiency Rebate Program
* Winchester Utilities - Residential Energy Right Rebate Program
EXAMPLE 3KW SYSTEM – HOME INSTALLATION COST
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Building Type: |
Residential |
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State & County: |
TN - Shelby |
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Utility: |
Memphis City of |
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Utility Type: |
Municipal Utility |
|
Assumed Average Electric Rate: Please check against your bill |
$0.0770 /kWh |
|
Assumed Average Monthly Electricity Usage: Please check against your bill |
1,300 kWh/Month |
|
Your Average Monthly Electricity Bill: (Assumed rate x average monthly usage) |
$100 / Month |
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Tiered Rates Apply: |
No |
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Time-of-Use Metering Offered: |
No |
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Net-Metering Available: |
No |
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ESTIMATED SYSTEM SIZE The system size best for your situation will vary based upon product, building, geographic and other variables. We encourage you to work with a Solar Pro who can better estimate the system size best for your situation. We estimate your building will need a system sized between 4.80 kW and 7.20 kW of peak power. This estimate assumes the mid-point of this range. |
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Solar Rating: |
Good (4.98 kWh/sq-m/day) |
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Solar System Capacity Required: |
6.00 kW of peak power (DC watts) |
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Roof Area Needed: |
600 sq-ft |
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ESTIMATED SYSTEM COST This is only an estimate based upon many assumptions. Installation costs can vary considerably. We encourage you to work with a Solar Pro who can provide you with a more detailed cost estimate. We estimate that a 6.00 kW peak power system will cost between $43,200 and $64,800. This estimate assumes the mid-point of this cost range. |
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Assumed Installation cost: (before rebates, incentives or tax credits). |
$54,000 assuming $9 /watt |
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Expected Memphis City of Utility Rebate: |
($0) |
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Expected TN State Rebate State incentive does not apply to this utility |
($0) |
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TN State Tax Credit/Deduction |
($0) |
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Federal Tax Credit: (Installation type: Residential ) |
($2,000) |
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Income Tax on Tax Credit: |
$0 |
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YOUR ESTIMATED NET COST: |
$52,000 |
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Monthly Payment (6.5% apr, 30 years): |
$329 |
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SAVINGS & BENEFITS |
|
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Increase in Property Value: |
$10,360 |
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Exempt from Property Tax: |
No |
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Accelerated (5 yr) Depreciation: (Installation type: Residential ) |
No |
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First-year Utility Savings: Since this is not a business application, these savings are in after tax dollars. So, your realized savings may actually be higher! |
$518 |
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Average Monthly Utility Savings: (over 25-year expected life of system) |
$72 |
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Average Annual Utility Savings: (over 25-year expected life of system) |
$869 |
|
25-year Utility Savings: |
$21,736 |
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Return on Investment (ROI): (with Solar System ave. cost set as asset value) |
101% |
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Return on Investment (ROI): (with Property appreciation set as asset value) |
508% |
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Years to Break even: (Includes property value appreciation) |
29 years |
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Years to Break even: (Assuming no property value appreciation) |
36 years |
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Greenhouse Gas (CO2) Saved: over 25-year system life |
160.0 tons (320,000 auto miles) |
CONSENSUS
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