solar in tennessee

Electric rate hikes are surging as national and regional demand increases and the pressure isn’t just local. AI data centers, electric vehicles, crypto mining, and industrial electrification are driving historic energy demand. Utilities are expanding infrastructure and shifting the financial burden to homeowners and businesses.

If you own a home or business, this is your opportunity to ACT NOW. Renewable energy, particularly solar, offers a reliable, proven way to protect yourself and hedge against these rising costs. Going solar not only reduces your monthly utility bills, it puts you in control of your long-term energy future.

What’s Driving the Surge in Energy Prices?

In Tennessee and across the U.S., a combination of surging energy demand, infrastructure constraints, and policy uncertainty is driving higher electricity costs.

Memphis is emerging as a national hotspot for AI-driven energy use. Elon Musk’s xAI supercomputer “Colossus” is already drawing approximately 150 megawatts of power enough to supply around 90,000 homes placing immense strain on local MLGW and TVA infrastructure management.

Meanwhile, the 30% federal solar tax credit is scheduled to expire on December 31, 2025, under current legislation. Without widespread solar adoption to match the surge in energy demand, the result is reduced grid stability, fewer supply buffers, and greater reliance on fossil fuel generation, all of which contribute to rising utility prices.

National and Regional Demand Growth and Rate Projections

2030 Projections:

• ICF and Utility Dive forecast U.S. electricity demand will rise approximately 25% by 2030, driven by data centers, EVs, industrial electrification, and crypto mining
• Estimated residential electricity rates are projected to increase 15%–40% through 2030
• McKinsey projects U.S. data center consumption will rise from 147 TWh in 2023 to 606 TWh by 2030, totaling 12% of national electricity usage
• Goldman Sachs expects a 160% to 165% increase in data center energy demand from 2023 to 2030
• EPRI and Utility Dive estimate data centers will consume between 4.6% and 9.1% of the U.S. grid’s power by 2030

Long-Term Projections (2040–2050):

• ICF and Utility Dive project total electricity demand to grow 78% by 2050
• Peak demand is expected to increase 14% by 2030 and 54% by 2050 (Energy Connects)
• Axios reports that areas like Northern Virginia could see demand rise 68% by 2050, far exceeding the national average of 57%

In Tennessee, these pressures are intensifying. Memphis is growing as a hub for AI and industrial activity, placing additional stress on the TVA grid and leading to higher utility rates across the region.

Projected Electricity Rate Increases in Tennessee

A $200 utility bill today could climb to $400 or more by 2050 if no action is taken.

Act Now: Why Solar Is a Smart Financial Decision

The federal solar tax credit covers 30% of your installation costs but is only available through 2025. By installing solar now, you can:

• Lock in predictable, long-term energy savings
• Maximize your return through available tax incentives
• Reduce exposure to escalating, run-away utility rates
• Gain Energy Independence from the traditional power grid

Who Benefits from Solar?

Homeowners can reduce electric bills, increase home value, and protect against future outages and surcharges. Installing solar before the tax credit deadline increases affordability.

Business owners can reduce operating costs, improve profit margins, and meet sustainability goals while leveraging commercial tax benefits and depreciation options.

The Hidden Cost of Waiting

Every month you delay going solar, the financial and logistical stakes grow:

• Delayed action reduces financial returns
• Scheduling becomes more competitive as demand rises
• You remain vulnerable to utility rate hikes
• You remain vulnerable to a frail grid infrastructure

Once the 30% federal tax credit expires and equipment demand surges, both costs and delays are expected to escalate. Meanwhile, slower solar deployment limits grid capacity forcing utilities to depend more on expensive fossil fuel generation and costly infrastructure upgrades… ultimately, those costs fall on ratepayers.

Start Your Solar Journey Today — Get a Free Consultation

ReNew Solar Solutions is the most trusted solar energy provider  (serving homeowners and businesses throughout Tennessee. We deliver high-performance systems, transparent pricing, and expert guidance to help you take control of your energy future.

Schedule your free solar consultation today to get started with a customized energy strategy.

 About ReNew Solar Solutions – Tennessee’s Most Trusted Solar Provider

ReNew Solar Solutions serves homeowners and businesses across Tennessee with high-efficiency solar, battery backup, and energy management systems. With a 4.9-star Google rating and an A+ BBB accreditation (ZERO complaints), our impeccable reputation is built on integrity, honesty and transparency to deliver long-term “Peace of Mind”.

Founded by John and Krista Hrudicka, ReNew reflects a shared vision: to build a purpose-driven solar company grounded that always acts and behaves in a long-term manner in how they treat both customers and employees. After successful careers in corporate finance, they launched ReNew to align their work with their values and to make a real impact on climate change through clean energy.

“We treat you the way we want to be treated.”

What does ReNew mean by that?  We treat your investment in Solar as if it were our own, as if it were our roof the solar was going on and our money we were spending.  We will always act in our Customer’s best interest, even if it results in less revenue and profit.

Why Work with ReNew?

As a locally owned and operated business, ReNew offers:

• LIFETIME Craftsmanship Warranty, exceeding industry standards
• White Glove Service & Performance Guarantee (only solar company in TN)
• In-house installation teams (no subcontractors) for consistent quality
• Pearl Certification on all residential projects placing us in the top 1% of solar contractors nationwide
• EnergySage Tennessee Installer of the Year for 2 years running since inception

Every system is expertly engineered using industry best design tools and cutting edge technology & components, delivering reliable long-term performance and real savings.

Experience the ReNew difference.