Solar Panels Cost 16k-27k in Covington, TN | October, 2024

Solar Panels Cost $16k-$27k in Covington, TN | October, 2024

High Power Bills?

Reduce or replace your electricity bill with solar

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

You will spend around $3.92/W in Covington, TN in the month of October, 2024 to have solar panels installed.

Stemming from the price per watt, we are able to come to the conclusion that for every 1 kW (1000 watts) your system can produce you will invest $3,920 to get your panels installed. In Covington, you can expect to pay about $13,720 for a 5 kW system once the 30% federal income tax credit is factored in. In accordance with your energy usage, your home may need a bigger system.

To the left, you can select your county to access information on the typical roof size and the maximum capacity of residential solar for houses in your area. Below, you can see a full analysis of 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.
Covington: $13,720US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Covington: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Covington: $12,423US Average: $15,784

Solar Potential in Covington

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

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

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

The average monthly electric bill for a Covington energy consumer is $133.43, with an typical usage of 1,152 kWh. Compact dwellings, such as townhouses and condos, are also covered in the figures noted in the prior sentence.

In October 2024, Covington, TN's mean electricity rate is 11.59¢ per kWh.

To take care of the electricity requirements of a typical consumer in Covington, a solar system of 10 kW or higher is necessary. After incentives, a 10 kW solar system is priced at around $27,440.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Covington

To the left and below, the cost breakdown for different sizes of the solar panel systems installed in Covington is displayed. Naturally, a larger solar system implies a greater upfront cost, but it also translates to more significant electricity savings and larger income tax credits.

The breakdown of costs and benefits for solar panels, shown in the calculator down and to the right, is based on an average electric bill of $133.43 in Covington. Swap the $133.43 with your usual electricity bill to get more accurate results.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,048 a year
Est. Price
$16,464
Savings from a 6kWthis system
  • Est. yearly production 8,735 kWh
  • Est. monthly savings $87
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 2.74 tons a year
  • Equivalent to planting 126 trees a year
  • Equivalent to driving 6,784 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,223 a year
Est. Price
$19,208
Savings from a 7kWthis system
  • Est. yearly production 10,191 kWh
  • Est. monthly savings $102
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 3.2 tons a year
  • Equivalent to planting 147 trees a year
  • Equivalent to driving 7,915 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,398 a year
Est. Price
$21,952
Savings from a 8kWthis system
  • Est. yearly production 11,647 kWh
  • Est. monthly savings $116
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 3.65 tons a year
  • Equivalent to planting 168 trees a year
  • Equivalent to driving 9,045 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,572 a year
Est. Price
$24,696
Savings from a 9kWthis system
  • Est. yearly production 13,103 kWh
  • Est. monthly savings $131
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 4.11 tons a year
  • Equivalent to planting 189 trees a year
  • Equivalent to driving 10,176 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,747 a year
Est. Price
$27,440
Savings from a 10kWthis system
  • Est. yearly production 14,559 kWh
  • Est. monthly savings $133
  • 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

Covington Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can potentially cover between 80% and 100% of the installation costs for solar or wind turbines for rural small businesses and farms. Verify if you are eligible by utilizing our REAP Grant eligibility tool.

With the availability of a 30% federal income tax credit, solar energy becomes a viable solution for almost all homeowners, especially in various parts of the country. State and local efforts are also in place to boost the growth of solar energy use.

A total of 2 solar incentive and rebate programs are available in Tennessee from multiple utilities and government organizations.

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?

If you intend to live in your home beyond the payback period of your solar system, solar panels are an excellent choice in Covington. A 5 kW solar system in Covington, TN might save you an average of $18,303.2 over 20 years, with the break even point typically being 9 years.

The cost of not having solar panels in Covington, TN

Skipping solar panels or an alternative backup energy source results in you'll miss out on the savings mentioned above and be completely dependent on your electric utility for power. Full reliance on your utility provider is not always ideal, as recent examples in the news have highlighted.

On average, customers in Covington have faced 2.76 utility outages per year in recent times. On average, the length of an outage is 163.98 minutes. Major events like heavy rain and flooding, construction accidents, or aging infrastructure can cause these durations to rise considerably.

A solar panel system, with or without a backup battery, could mitigate the effects of future outages you might face.

Power Outages

Currently, 0 customers are being tracked in Tipton County.

Learn more

Customers Out:

0

Go Solar for less than your cell phone bill.

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

Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is reduced as the system size grows. Most consumers find it useful to install a solar system that can produce enough electricity to offset the entirety of their electric bill. This approach makes the most sense for optimal savings.

Make & Model - Similar to many other products, there are different makes and models of solar panels and mounting equipment to choose from. Given the certain brand preferences an installer might have, picking a highly rated company is crucial. The choice of better materials can substantially better the long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have emerged as the standard in the industry, and deservedly so. Although the cost is more, they yield more energy. Many installers use these panels.

Your Property - Each home and property is unique in its own way. Rough terrain, trees, or additional obstacles may complicate the installation. These days, solar installers frequently utilize satellite images to evaluate your home and include these elements into the preliminary cost estimate.

Labor Rates - Companies pay varying pay rates to their employees, which are then passed on to the prices consumers pay. Businesses typically garner higher reviews for their services and customer service when they pay higher wages.

Permitting & Interconnection - Your final installation cost will be influenced by local permitting and utility interconnection fees, which vary by area. Reputable local installers will integrate these numbers into your preliminary quotes to prevent any surprises.

See what solar panels cost in other TN cities

Go Solar for less than your cell phone bill.

Who are the best solar installers in Covington?

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.

Covington, TN Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Covington, TN as of October, 2024 is $3.92/W. With the federal tax credit, the cost of a 5 kW solar panel system in Covington, TN drops to roughly $13,720.

  • Homeowners in Tennessee can take advantage of 2 different rebates and incentives from a variety of utility companies and government agencies. In addition, the 30% federal income tax credit is available to almost everyone.

  • Even though cash payments provide the greatest savings, numerous financing options for solar panels today are also advantageous. Information about financing options is typically provided in initial quotes provided by installers.

  • Yes, on average, the return on investment for 5 kW solar panel systems in Covington, TN is achieved in 9 years, with electricity savings amounting to $18,303.2 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01