Solar Panels Cost 13k-24k in Newport, TN | October, 2024

Solar Panels Cost $13k-$24k in Newport, TN | October, 2024

High Power Bills?

Reduce or replace your electricity bill with solar

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

The current cost per watt for solar panel installations in Newport, TN in October, 2024 is $3.92/W.

In accordance with the price, we are able to come to the conclusion that for every 1 kW (1000 watts) of solar generation capacity will require an investment of $3,920 for installation. A 5 kW solar panel install in Newport averages approximately $13,720 after accounting for the 30% federal income tax credit. It's vital to consider that a more powerful system might be essential to meet your energy demands.

Choose your county from the menu on the left to see the average roof size and maximum solar panel system capacity for homes in your area. Additionally, you can also see an overview 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.
Newport: $13,720US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Newport: 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.
Newport: $15,562US Average: $15,784

Solar Potential in Newport

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

Roof size 2,663sq. ft.
Capacity 37.25kW DC
Electricity 46.2kkWh AC per yr.

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

Energy consumers in Newport usually pay $146.51 per month for electricity, consuming an typical of 1,079 kWh. These numbers also cover apartments and smaller dwellings with less energy demand.

Newport, TN's electricity rate averages 13.58¢ per kWh in October 2024.

If your household uses a typical amount of electricity in Newport, you will need a solar panel system of 9 kW or larger to fully account for your full energy usage needs. The price of a a 9 kW solar panel system is approximately $35,280 upfront, but the federal tax credit provides a 30% credit, bringing the price down to $24,696.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Newport

To your left, there is a detailed cost breakdown for the various solar panel system sizes set up in Newport. When you choose a larger solar system, the cost is larger, but it also yields higher electricity savings and a more substantial income tax credit.

The cost and benefit breakdown for solar panels, presented in the calculator down and to the right, is based on an average electric bill of $146.51 in Newport. Swap the $146.51 with your average electricity bill for custom results.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,019 a year
Est. Price
$13,720
Savings from a 5kWthis system
  • Est. yearly production 7,279 kWh
  • Est. monthly savings $85
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.41 tons a year
  • Equivalent to planting 111 trees a year
  • Equivalent to driving 5,967 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,223 a year
Est. Price
$16,464
Savings from a 6kWthis system
  • Est. yearly production 8,735 kWh
  • Est. monthly savings $102
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.89 tons a year
  • Equivalent to planting 133 trees a year
  • Equivalent to driving 7,161 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,427 a year
Est. Price
$19,208
Savings from a 7kWthis system
  • Est. yearly production 10,191 kWh
  • Est. monthly savings $119
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 3.38 tons a year
  • Equivalent to planting 155 trees a year
  • Equivalent to driving 8,354 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,631 a year
Est. Price
$21,952
Savings from a 8kWthis system
  • Est. yearly production 11,647 kWh
  • Est. monthly savings $136
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 3.86 tons a year
  • Equivalent to planting 177 trees a year
  • Equivalent to driving 9,548 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,834 a year
Est. Price
$24,696
Savings from a 9kWthis system
  • Est. yearly production 13,103 kWh
  • Est. monthly savings $147
  • Full payback in 14 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

Newport 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. Curious if you qualify? Our REAP Grant eligibility tool can help you verify.

Homeowners can take advantage of a 30% federal income tax credit for installing residential solar panels, making solar power a sensible option across much of the country. Moreover, a number of state and local programs are available to incentivize solar adoption.

Multiple utilities and government organizations in Tennessee have 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 goal is to maintain your home well past the payback period of your solar system, solar panels are an clear choice in Newport. A 5 kW system in Newport, TN will save the average homeowner, on average, $21,442.4 over a 20 period and the average break even point is 8 years.

The cost of not having solar panels in Newport, TN

Apart from missing out on the aforementioned savings, not installing solar panels or any backup energy system leaves you totally reliant on your electric utility for power. Recent news coverage has demonstrated that full reliance on your utility company isn't always the most favorable scenario.

Every year, customers in Tennessee face approximately 2.19 outages each year. On average, each outage lasts for 167.58 minutes. Major events like heavy rain and flooding, construction accidents, or overloaded power grids can considerably extend these durations.

Whether or not a backup battery is included, a solar panel system could reduce the impact of future power outages you might encounter.

Power Outages

Currently, 0 customers are being tracked in Cocke County.

Learn more

Customers Out:

0

Go Solar for less than your cell phone bill.

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

Your Energy Needs - While the upfront cost is larger, the price per watt declines with larger solar panel systems. Individuals often find that installing a solar system that can offset their electric bill is highly beneficial. This strategy results in increased savings.

Make & Model - As with many other products, there are different makes and models of solar panels and mounting equipment available. The brand preferences of your selected installer can make it important to pick a reputable installer. Buyers who opt for better materials generally enjoy a superior long-term experience.

Solar Panel Type - Monocrystalline panels have emerged as the industry standard, and deservedly so. Even though they are more expensive, they produce more energy. The majority of installers utilize panels constructed from this material.

Your Property - Trees, uneven land, or other obstacles can make the installation process more challenging. With the use of satellite images, many solar installers currently can evaluate your home and include these elements into the initial cost estimate.

Labor Rates - Variations in employee wages across companies cause expenses that are passed on to the consumers. Companies that invest in higher wages often see higher reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which differ by region, will influence your final installation cost. That said, reputable local installers will be able to build these numbers into your first quotes so there are no 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 Newport?

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.

Newport, TN Solar Panel Cost FAQs

  • The average solar panel cost in Newport, TN as of October, 2024 is estimated at $3.92/W. With the federal tax credit, the cost of a 5 kW solar panel system in Newport, TN drops to roughly $13,720.

  • Residents of Tennessee can currently take advantage of 2 rebates and incentives offered by various utilities and government bodies. Also, nearly everyone can take advantage of the 30% federal tax credit.

  • While paying cash provides the most savings, various financing options for solar panels exist that also are financially sensible. Financing options from installers will often be detailed in your initial quotes.

  • Yes, in Newport, TN, the average time for 5 kW solar panel systems to pay for themselves is 8 years, leading to electricity savings of $21,442.4 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01