Solar Panels Kentucky Cost

Installing a typical 5 kw solar system should start at about 21 250.

Solar panels kentucky cost.

As of sep 2020 the average cost of solar panels in kentucky is 2 34 per watt making a typical 6000 watt 6 kw solar system 10 398 after claiming the 26 federal solar tax credit now available. Kentucky has one of the lowest average costs per watt for solar power a bonus to those who value clean green energy usage. Costs vary but are generally lower due to federal and local government incentives. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.

Solar panel cost data kentucky 2020. If there were no incentives you would pay around 21 000 upfront. The costs and savings for a 5 kw pv system in kentucky can be broken down as follows. The feds calculate their 30 tax credit based on actual out of pocket costs so you ll get 6 375 back as a tax credit for a new price after year 1 of 14 875.

Data based on 752 reporting zip codes in kentucky. However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 60 per watt. This is lower than the average price of residential solar power systems across the united states which is currently 2 60 per watt. Solar panels in kentucky cost about 18 241 with average prices for a solar panel system ranging from 16 547 to 20 326 in the us for 2020 according to solar estimate this is the estimated cost of installing a 6kw solar system before deducting solar tax credits.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Subtracting the 1 000 rebate the project costs drops to 20 000. Stats above assume a 32 square meter 345 square foot standard efficiency 15 5 kw system costing 21 000 out of pocket. This means you d pay around 13 000 for the system which is much more reasonable price.

Here s how the numbers work for a kentucky solar purchase of a 5 kw rooftop solar system. After the system has paid for itself via savings over the course of 16 18 years the savings can exceed 1 100 per year which adds up to as much as 10 000 or more over the remaining time of the system s life cycle. However it is currently near the bottom in terms of solar capacity installed ranking 44th in the nation with only enough energy to power 4 758 homes solar panel installation prices have fallen making now a good time to go green with solar power in kentucky.