Tennessee Incentives

The environmental eyes were all fixed on Tennessee as they emerged from below par to star as a solar energy producer. Already ranking 19th among the states for the production of renewable energy, the renewable energy future for Tennessee is growing brighter each day. The state installed an additional 25 MW of solar energy in 2013 bringing the total statewide output to 75KW. In addition Tennessee has attracted over 134 solar companies that now call the state home, creating thousands of jobs according to the Solar Energy Industries Association.

The Tennessee Valley Authority Generation Partners Program

Residents of Tennessee benefit greatly through several programs including the performance based program created by the Tennessee Valley Authority. The TVA Generation Partners Program provides $1,000 plus 0.12 cents per KW to residents who install any photovoltaic system producing 500W and 200KW. The TVA will pay in the form of a credit to your utility bill for all power generated by the system. Periodic payments will be issued for all excess power produced. This program is offered to any of the customers of the 91 companies served by the Tennessee Valley Authority. Applications should be submitted directly to the local power company. It applies for every resident whether you own solar panels Nashville or solar panels Memphis. Please note: The program is fully subscribed for 2014 but new applicants will be placed on a waiting list for 2015, so it is important for applications to be submitted as soon as possible. Further information is available at the TVA website.

The Green Energy Property Tax Assessment Program

The Green Energy Property Tax Assessment is also available to the subscribers of companies serviced by the TVA and all other residents of Tennessee. In this program, two thirds of the assessed property value increase from installing solar panels Tennessee is untaxed. To qualify a residential or commercial property must be certified as a green energy production facility. This is defined by the production of clean energy to be used off premises. This program applies to residential solar panels tn, wind systems, geothermal and hydrogen systems which are considered clean technology. Applications are submitted the State of Tennessee comptroller’s office.

The Federal Incentive

In addition to the state, the Federal Energy Policy Act rewards homeowners who buy home solar panels Tennessee with a tax credit of 30 % of the total cost of the system installation. This credit is gained by filing form 5695 in conjunction with tax form 1040. This program is tentatively scheduled to expire in 2016.

Help For All Tennessee Residents

123SolarPower has locations in Tennessee and across North America providing photovoltaic modules and inverters to help customers produce free power and even earn money by selling excess back to the utility companies. We work with an extended network of partners that already provide thousands of homeowners with solar panels Knoxville TN and surrounding cities. We also provide solar hot water heating systems for additional savings. If you are interested in taking advantage of the excellent incentives from the Tennessee Valley Authority and the Federal Energy Policy Act and helping to create a cleaner environment, contact us right away. It is as easy as filling out the quick form on this website or calling 800-294-2397 One of our renewable energy professionals is eager to help you get started today.

Frequently Asked Questions

When making any modifications to the home, questions always arise. In order to discern whether adding solar panels is a good idea for a given home, having answers to the most frequently asked questions can help. These answers can not only help a homeowner decide whether or not to install solar panels on their home, but they may also help to alleviate some fears and/or concerns that homeowners have about solar power.

Will solar panels benefit my home if I do not have constant access to the sun?

It is a myth that only sunny places like California and Hawaii can benefit from the installation of solar panels. While solar panels do generate more power in areas that have more access to the sun, there are solar panels that are capable of capitalizing on diffused solar rays. These are the kind of solar rays that fall on overcast days.

What incentives are available to me?

There are many incentives in place to help convince homeowners to install solar panels. For example there are tax credits at both the state and federal levels. While the tax credit value varies by state, to the credit ranges to upwards of 25% on installation up to $1,000. Furthermore, most solar power devices are sales tax exempt. The federal tax credit is 30% on installation with no limit. For more information about tax incentives in your state, call 800-294-2397 to speak with a solar consultant.

What is the difference between on the grid and off the grid?

On the grid refers to one still being attached to the electric grid and essentially creates a solar/electric hybrid system. Off the grid refers to relying solely on solar power as the home is completely disconnected from any electric grid.

While solar panels may be expensive to install, the long-term savings (both personally and as a member of society) really outweigh the upfront costs. Moreover, the tax breaks available (through 2016) can also help to recoup some of the costs.

Adding solar panels to your home can benefit you in many ways—including tax credits and a decrease in your electric bill. For more information, please complete the online form or call 800-294-2397.

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