A component includes a substrate having outer and inner surfaces, where the inner surface defines at least one hollow, interior space. The outer surface defines pressure side and suction side walls, which are joined together at leading and trailing edges of the component. The outer surface defines one or more grooves that extend at least partially along the pressure or suction side walls in a vicinity of the trailing edge. Each groove is in fluid communication with a respective hollow, interior space. The component further includes a coating disposed over at least a portion of the outer substrate surface. The coating comprises at least a structural coating that extends over the groove(s), such that the groove(s) and the structural coating together define one or more channels for cooling the trailing edge. A method of forming cooling channels in the vicinity of the trailing edge is also provided.