Solar Panels Cost 15k-26k in Millington, TN | October, 2024

Solar Panels Cost $15k-$26k in Millington, TN | October, 2024

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

For solar panels in Millington, TN, the cost per watt in October, 2024 is , on average, $3.75/W.

You should expect to pay $3,750, on average, for every 1000 watts (or 1 kW) of solar energy your solar panels will need to produce. We can come up with this number by applying this rate price cost per watt. When you consider the 30% federal tax credit, a 5 kW solar panel install in Millington will cost approximately $13,125. Depending on your electricity consumption habits, you may need a bigger system.

By selecting your county on the left, you can determine the typical roof size and the average maximum capacity for residential solar panel systems in your area. You can also see an analysis of the costs, payback period and 20 year average savings for a 5 kW system installed in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Millington: $13,125US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Millington: 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.
Millington: $14,324US Average: $15,784

Solar Potential in Millington

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

Roof size 715sq. ft.
Capacity 10kW DC
Electricity 12.2kkWh AC per yr.

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

For Millington energy consumers, the average electric bill is $137.81 per month, with a usage of 1,171 kWh. Small apartments are also included in the statistics mentioned in the previous sentence. The lower energy use in these types of dwellings impacts those averages.

The average rate for electricity in Millington, TN in October, 2024 is 11.77¢ per kWh.

If you’re a typical electricity user in Millington you has to have a 10 kW or higher sized system to cover your full energy requirements. Upfront, a 10 kW setup is priced at $37,500, but after a 30% tax credit, the total cost is $26,250.

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Average solar panel costs by system size in Millington

To the left side and below, there is the cost summary for multiple sizes of the solar panel systems installed in Millington. Of course, with a more extensive solar system, you will have a larger initial investment, but the benefits consist of higher electricity savings and larger income tax credits.

In the solar panel cost calculator situated to the right and below, you can examine a cost and benefit breakdown to match an average $137.81electric bill in Millington. Adjust the $137.81 to align with your average electricity bill payment for more tailored results.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,048 a year
Est. Price
$15,750
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 0.89 tons a year
  • Equivalent to planting 41 trees a year
  • Equivalent to driving 2,210 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,223 a year
Est. Price
$18,375
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 1.04 tons a year
  • Equivalent to planting 48 trees a year
  • Equivalent to driving 2,578 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,398 a year
Est. Price
$21,000
Savings from a 8kWthis system
  • Est. yearly production 11,647 kWh
  • Est. monthly savings $116
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 1.19 tons a year
  • Equivalent to planting 55 trees a year
  • Equivalent to driving 2,946 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,572 a year
Est. Price
$23,625
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 1.34 tons a year
  • Equivalent to planting 62 trees a year
  • Equivalent to driving 3,315 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,747 a year
Est. Price
$26,250
Savings from a 10kWthis system
  • Est. yearly production 14,559 kWh
  • Est. monthly savings $138
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 1.41 tons a year
  • Equivalent to planting 65 trees a year
  • Equivalent to driving 3,491 mi less a year

Millington Solar Panel Installation Incentives & Rebates | 2024

With the REAP Grant, up to 100% and no less than 80% of the installation costs for solar or wind turbines may be covered for rural small business owners and farmers. If you believe yourself eligible, we recommend utilizing our REAP Grant eligibility tool to confirm your qualification.

Almost all homeowners can qualify for the 30% federal income tax credit for residential solar, making solar energy a sensible option in most parts of the country. Besides the federal incentives, state and local programs also work to boost solar energy uptake.

Multiple utilities and governmental bodies in Tennessee offer 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?

If your intention is to stay in your home beyond the solar payback period, installing solar panels is a wise option in Millington. In Millington, TN, the installation of a 5 kW solar system can save you an average of $19,949.4 over 20 years, with an average break even point of 8 years.

The cost of not having solar panels in Millington, TN

Without solar panels or another energy backup source, you lose out on the savings highlighted earlier and are completely dependent on your electric utility for power. Total dependence on your utility provider is not always ideal, as recent examples in the news have highlighted.

Annually, the average number of outages per customer in Millington is about 2.27. On average, an outage lasts 411.6 minutes. When major events such as lightning strikes, construction accidents, or equipment failure occur, these durations can increase significantly

A solar panel system could alleviate the burden of future outages, even if it doesn't have a backup battery.

Power Outages

Currently, 0 customers are being tracked in Shelby County.

Learn more

Customers Out:

0

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

Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is greater. Setting up a solar system that produces sufficient electricity to eliminate their electric bill is advantageous to most individuals, ensuring savings.

Make & Model - Just like many products, solar panels are offered in a wide variety of makes and models. Given the certain brand preferences an installer might have, choosing a highly rated installer is crucial. For buyers seeking a better long-term experience, choosing superior quality models is critical.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even though they are costlier, they provide more energy. The majority of installers work with panels made from this material.

Your Property - Challenges like trees, sloping terrain, or additional obstacles can increase the difficulty of installing solar panels. Nowadays, solar installers frequently leverage satellite images to assess your home and incorporate these elements into the initial cost estimate.

Labor Rates - Differences in employee wages across companies result in expenses that are transferred to the consumers. Reviews for work and customer service are often higher for businesses that pay higher wages.

Permitting & Interconnection - Installation costs will be affected by regularly changing local permitting and utility interconnection fees, depending on the region. Good local installers will integrate these figures into your first estimates to prevent any surprises.

See what solar panels cost in other TN cities

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Who are the best solar installers in Millington?

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.

Millington, TN Solar Panel Cost FAQs

  • In October, 2024, the typical price per watt for solar panels in Millington, TN is $3.75/W. After federal tax credits, the installation of a 5 kW solar panel system in Millington, TN is estimated to cost $13,125.

  • There are 2 rebates and incentives available in Tennessee from a range of utility providers and government organizations. Additionally, almost everyone is entitled to the 30% federal income tax credit.

  • Paying cash offers the most savings, yet there are several financing options available today for solar panels that are also beneficial. Many installers work with financing partners and will provide this information in your initial quotes.

  • Yes, homeowners in Millington, TN generally see a payback time of 8 years for 5 kW solar panel systems, with electricity savings averaging $19,949.4 over a 20-year period.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01