Solar Panel Cost in Memphis, TN (2026)
Solar panel costs in Memphis, TN typically run below the Tennessee state average. A 6 kW system in Memphis costs about $14,250 before the 30% federal ITC, with payback around 9.9 years at local utility rates.
Quick answer
In Memphis, a 6 kW solar panel system costs about $14,250 installed (9.9-year payback). After the 30% federal tax credit, net cost is roughly $10,000. Annual savings: ~$1,050/year at 12.5¢/kWh.
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Estimate for Tennessee
$6,900net after 30% ITC
~4 kW · 10 panels · $9,900 before credits · 12.5¢/kWh
Annual savings
$698
Payback
9.9 yrs
25-year savings
$18,333
25-year savings timeline
Includes ~3% utility rate growth & 0.5%/yr panel degradation
Memphis vs US Average
| Metric | TN | US avg |
|---|---|---|
| 6 kW system (before credit) | $14,250 | $16,271 |
| Net cost after 30% ITC | $10,000 | $11,390 |
| Cost per watt | $0.00/W | — |
| Annual electricity savings | $1,050 | $1,335 |
| Payback period (years) | 9.9 yrs | 9 yrs |
| Electricity rate | 12.5¢/kWh | — |
Updated 2026-07-07. Estimates only.
What affects solar costs in Memphis?
Memphis metro solar pricing runs 5–10% below the Tennessee state average, reflecting local labor, permitting, and installer competition. Solar installation costs in Tennessee reflect local labor rates, permit fees, and utility interconnection rules. A typical 6 kW system runs $11,550–$20,440 before the 30% federal tax credit, with net cost around $8,080–$14,310.
Memphis homeowners should compare at least three local quotes specifying panel brand, inverter type, and production guarantee. Tennessee averages 12.5¢/kWh and 4.5 peak sun hours per day — moderate solar production potential for rooftop systems.
Utility rules in Tennessee affect how solar credits apply to your bill — verify net metering or buyback terms for your specific provider serving Memphis.
Memphis solar ROI depends on Tennessee electricity rates, local install competition, and roof suitability. Tennessee install costs average $2.48/W with estimated 9.9-year payback on a 6 kW system — below US national averages.
Memphis solar snapshot
- 6 kW system: $11,100 – $19,600
- After 30% ITC: $10,000
- Electric rate: 12.5¢/kWh · Peak sun: 4.5 hrs/day
- Payback: ~9.9 years · Annual savings: ~$1,050
How to maximize solar ROI in Memphis
- Compare Memphis installer quotes on cost per watt ($/W)
- Check Tennessee incentives — state guide
- Review how to choose installers in Tennessee
- Compare at least three installer quotes in Tennessee
- Model payback using your actual utility rate and usage
Frequently Asked Questions
How much do solar panels cost in Memphis?
A 6 kW solar system in Memphis, TN typically costs $11,100–$19,600 before incentives, or $10,000 after the 30% federal tax credit.
Is solar worth it in Memphis?
With 12.5¢/kWh electricity rates and 4.5 peak sun hours, Memphis homeowners often see 9.9-year payback. Use our calculator for your roof and usage.
How does Memphis compare to Tennessee?
Memphis install pricing is among the more affordable metros in Tennessee.
Related pages
How We Calculate Solar Costs
MySunROI estimates combine NREL residential PV installed-price benchmarks, EIA state electricity rates, and regional labor modifiers — updated 2026-07-07.
Estimates only. Last updated 2026-07-07. Estimates based on NREL PV cost benchmarks, EIA electricity rates, and 2026 installer pricing surveys.