Residential solar arrays can range from $8,000 after incentives to over $40,000 for larger arrays. The bulk of the system cost is the solar panels, so the major difference in pricing is simply determined by how many panels you need or want to cover your electric bills.
There are incentives to help you offset the cost of a home array provided by the Federal Government and the Tennessee Valley Authority.
The Federal Government has a 30% income tax credit that is good until 2016. This means that you will be able to take a credit on your taxes for the eligible amount up until 2016. Even if you don’t pay that much tax to begin with, you will be able to take the credit each consecutive year.
TVA offers a large incentive for Grid-Tie Systems under the Generation Partners Program. They offer 12 cents/kWh + your current rate (average in TN is about 10 cents/kWh) for the solar energy generated each month. TVA also grants $1,000 after completion of your array. Your utility will typically send this out with your next electric bill.
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Pricing and Incentives
