Is solar worth it in 38116 (Memphis, TN)?

With an average payback period of 12.8 years and 25-year savings of $26,250, solar panels in Memphis, Tennessee can be worthwhile with available incentives.

How much do solar panels cost in 38116?

The average cost of a 6kW residential solar system in Memphis, Tennessee is $13,400 before incentives. The federal 30% Investment Tax Credit reduces this to about $9,380.

How much solar electricity does 38116 get?

Memphis receives 5.08 kWh/m²/day of solar irradiance. A 6kW system in zip code 38116 produces approximately 8,900 kWh per year.

Solar Panel ROI in 38116

Memphis, Tennessee — Is solar worth it here? Here's what the data says.

2.0x ROI Score

12.8 yrs Payback Period

$1,050/yr Annual Savings

$26,250 25-Year Savings

Your savings estimate

$ /mo bill

Annual savings $1,050

Payback 12.8 yrs

25-yr savings $26,250

Solar Calculator for 38116 (Memphis)

Adjust values to see your personalized solar ROI estimate for Memphis, Tennessee.

System Size

System Cost

Electricity Rate

$ /kWh

Solar Irradiance

5.08 kWh/m²/day

Based on NREL data for Memphis, TN

ROI Score 2.0x

Annual Production 8,900 kWh

Annual Savings $1,050

Payback Period 12.8 years

25-Year Savings $26,250

After 30% ITC $9,380

Solar Data for 38116 – Memphis, TN

Solar Irradiance 5.08 kWh/m²/day +2.4% vs national avg

vs Tennessee Avg +1.4% State avg: 4.82 kWh/m²/day

Electricity Rate $0.118/kWh Tennessee average rate

Annual Production 8,900 kWh 6kW system estimate

Memphis's 5.08 kWh/m²/day is 2.4% above the national average. At $0.118/kWh, the 12.8-year payback is moderate. Tax credits and incentives can shorten it meaningfully.

Solar Incentives for Memphis, Tennessee

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Federal Investment Tax Credit (ITC)

Claim 30% of your system cost as a federal tax credit. On a $13,400 system, that's $4,020 back.

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Net Metering

Most Tennessee utilities offer net metering — sell excess electricity back to the grid at retail rates, accelerating your payback.

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Tennessee State Programs

Check with the Tennessee energy office for additional rebates, tax exemptions, and low-interest solar financing programs available in Memphis.

38116 vs Tennessee Average

Solar Irradiance

38116: 5.08 TN avg: 4.82

Payback Period

38116: 12.8 yrs TN avg: 14.2 yrs

Annual Savings

38116: $1,050 TN avg: $945

25-Year Savings

38116: $26,250 TN avg: $23,625

See the full Tennessee solar guide for statewide data and incentives.

Nearby Zip Codes — Solar Comparison

38109 Memphis, TN 2.0x ROI 12.8 yr payback 38103 Memphis, TN 2.0x ROI 12.8 yr payback 72201 Little Rock, AR 2.0x ROI 12.4 yr payback 72205 Little Rock, AR 2.0x ROI 12.4 yr payback 72204 Little Rock, AR 2.0x ROI 12.4 yr payback