Solar Power Panels Kentucky

Electricity is just so cheap in kentucky right now a solar system for you home isn t a good investment unless the environmental benefits are worth at least 3 946 to you.

Solar power panels kentucky.

Therefore the main incentives for solar power in kentucky are the 500 tax credit and a favorable net metering policy. Compare the best solar energy companies in kentucky in 2020 updated. Solar panel cost data kentucky 2020. Based on the price of electricity in kentucky an average of 0 1 per kw and low amounts of sun 6 less than average compared to other states solar power is 21 lest cost effective than the rest of the nation.

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. Below you can compare the prices and reputations of solar installers solar panel manufacturers and other solar energy companies servicing kentucky today and learn how to select the best one. As of june 2020 the average cost of solar panels per watt in kentucky is 3 58 watt. There are currently 44 solar energy companies operating in kentucky.

We use a 6 return to evaluate all solar investments and kentucky s 3 946 npv on a 5 kw solar system means you d be that much better off investing your money in stocks over 25 years than solar. Solar energy has enormous potential for the people of eastern kentucky said mr. Kentucky has one of the lowest average costs per watt for solar power a bonus to those who value clean green energy usage. However kentucky does offer some incentives that make solar financially enticing including tax credits loans and even an electricity generation partnership program.

Kentucky solar power incentives tax breaks and rebates kentucky does not have a renewable portfolio standard requiring local utilities to meet a certain renewable energy percentage by a specified date. A typical 6000 watt 6 kw solar system is 21 460 before the federal solar credit and 15 880 after claiming the federal solar tax credit. It takes more creativity to realize a cost savings when you install solar in a place with low grid power rates. 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 are only recommended for those with disposable income in kentucky. Kyses member seth long is a resident of ermine kentucky the executive director of homes inc and a net metering customer of kentucky power. 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.