Solar Panels Cost $11k-$20k in Boone County, KY | December, 2024
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How much do solar panels cost in Boone County, KY in 2024?
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The typical price per watt for a solar panel installation in Boone County, KY in December, 2024 is $3.33/W.
For every 1000 watts (1 kW) your solar system can generate, you will need to invest, on average, $3,330 for installation. You are able to come up with this number by using this rate price cost per watt. After receiving the 30% federal tax credit, you can expect to spend around $11,655 for a 5 kW solar panel system in Boone County. Note that a larger system might be necessary to fulfill your energy requirements.
To the left, you can choose your county to see the typical roof size and average maximum capacity for residential solar on homes in your area. You can also see an overview of the costs, payback period and 20 year average savings for a 5 kW system in your county below.
Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Boone County: $11,655US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Boone County: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Boone County: $17,308US Average: $16,152
Solar Potential in Boone County
Estimated system size and solar electricity production per median viable roof in Boone County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.2kkWh AC per yr.
Electricity Costs in Boone County, KY & What that Means for Your Solar Panel Pricing
Energy consumers in Boone County pay an average of 141.49 per month for electricity, while using 1,077 kWh on average. It’s worth remembering that this figure includes apartments and smaller homes that usually have lower energy use.
As of December 2024, the mean rate for electricity per kWh in Boone County, KY amounts to 13.14¢.
The expected cost is around $29,970for a 9 kW solar system initially, but the federal tax credit gives you 30% back, lowering the cost to $20,979.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Boone County
Shown below and to the left, you can find a detailed cost analysis for various solar panel system sizes set up in Boone County. The investment for a bigger solar panel setup is greater, but it also yields greater electricity savings and increased income tax credits.
View a cost benefit analysis in the solar panel cost calculator below and to the right, for an average electric bill of $141.49 in Boone County. By changing the $141.49 to your average electricity bill, you can get more personalized results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $948 a year
Est. Price
$11,655
Savings from a 5kWthis system
Est. yearly production 7,293 kWh
Est. monthly savings $79
Full payback in 7 years
Environmental Impacts
Reduces CO2 emissions by 9.4 tons a year
Equivalent to planting 432 trees a year
Equivalent to driving 23,260 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,138 a year
Est. Price
$13,986
Savings from a 6kWthis system
Est. yearly production 8,752 kWh
Est. monthly savings $95
Full payback in 8 years
Environmental Impacts
Reduces CO2 emissions by 11.28 tons a year
Equivalent to planting 518 trees a year
Equivalent to driving 27,912 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,327 a year
Est. Price
$16,317
Savings from a 7kWthis system
Est. yearly production 10,211 kWh
Est. monthly savings $111
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 13.16 tons a year
Equivalent to planting 604 trees a year
Equivalent to driving 32,564 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,517 a year
Est. Price
$18,648
Savings from a 8kWthis system
Est. yearly production 11,669 kWh
Est. monthly savings $126
Full payback in 11 years
Environmental Impacts
Reduces CO2 emissions by 15.04 tons a year
Equivalent to planting 691 trees a year
Equivalent to driving 37,216 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,707 a year
Est. Price
$20,979
Savings from a 9kWthis system
Est. yearly production 13,128 kWh
Est. monthly savings $141
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 16.77 tons a year
Equivalent to planting 770 trees a year
Equivalent to driving 41,510 mi less a year
Boone County Solar Panel Installation Incentives & Rebates | 2024
Rural small business and farm owners might benefit from the REAP Grant, which could cover 80% to 100% of their solar energy or wind energy installation expenses. Curious if you fall into this category? Confirm your eligibility with our REAP Grant eligibility tool.
With the availability of a 30% federal income tax credit, solar energy becomes a feasible solution for most homeowners, particularly in numerous parts of the country. A number of state and local programs are set up to increase the adoption of solar energy.
In Kentucky, 6 solar rebates and incentives are currently available from different utilities and government agencies.
Solar incentives in KYIncentive Description Value
Tax Exemption for Large-Scale Renewable Energy Projects
Value:Varies
Beginning in 2007, companies operating in Kentucky may be entitled to corporate sales or income tax exemptions on new energy efficiency or renewable energy investments. A complete sales tax exemption may apply to any materials or equipment a company uses to make improvements. Certain employees whose jobs were created as part of the improvements may write off a 4% wage assessment on their own income taxes. A minimum investment of $1 million is required. New solar facilities should be rated for at least 50 KW, while systems using other renewable technology should be rated for at least 1 MW. Additional information is available from the Think Kentucky website.
On-Farm Energy Efficiency Grant Program
Value:Varies
The Office of Agricultural Policy, a unit of the office of the Kentucky governor, oversees the County Agricultural Investment Program (CAIP). Farmers may be eligible for program grants to fund energy efficiency improvements. Eligible projects for grant funding include new implements, insulation/weatherization, lighting, HVAC, windows, roofing, and smart thermostats. New solar thermal/PV systems and wind turbines may also be eligible. Equipment and building materials must meet certain state efficiency standards. Interested farmers may apply at any time and will be considered for the upcoming program year. Additional information is available from the OAP website.
Net Metering
Value:Varies
Kentucky requires private electrical utilities in the Commonwealth to collect renewable energy credits through net metering arrangements with their customers. Any solar, wind, biomass, or other renewable energy system rated for under 45 kW should have a bidirectional meter equipped to measure net excess generation (NEG) sent back to the grid. Customers will be compensated at a rate set by the state utility regulator. As of 2021, the rate per kilowatt hour is 9.746 cents. Systems entering a net metering contract must comply with certain IEEE and UL standards. Utilities reserve the right to restrict NEG exports to keep the grid stable. Additional information is available from the Kentucky Public Service Commission website.
Incentives for Energy Independence
Value:Varies
Various tax incentives are available in Kentucky to encourage renewable adoption research and adoption in the Commonwealth. New renewable generation farms, such as those using solar, wind, or biomass technology, may be totally exempt from state income tax, entity tax, and sales/use tax. Employees maintaining the systems may be entitled to tax credits equal to a 4% wage assessment on employers. Exemptions or special assessments are determined on a case-by-case basis and will last for up to 25 years. Certain administrative fees payable to the Kentucky Economic Development Finance Authority may apply. Additional information is available from the Think Kentucky website.
Energy Efficiency Loans for State Government Agencies
Value:Varies
The Green Bank of Kentucky (GBKY) received seed funding from the 2009 federal stimulus package. Currently, the Bank offers revolving loans to commonwealth government agencies for sustainability projects. Agencies may select from three different loan options. In each case, repaid principal will immediately "revolve" to support subsequent borrowers. SELF loans may fund any energy efficiency improvements or renewable energy investments that will reduce consumption by 20%. Available principal ranges from $50K to a maximum of $225K. Hybrid loans offer principal from $50K to $600K. These loans require energy audits before project work begins, the cost of which may be covered by loan funds. Agencies have the burden of procuring contractors and new equipment/materials. ESPC loans are designed for comprehensive or large-scale industrial improvements. Loan principal starts at $600K with no maximum. The applicant must use a recognized Energy Service Company or Energy Savings Performance Company for the work. Additional information is available from the GBKY website.
Interconnection Standards
Value:Varies
Distributed generation and interconnection have been standardized by the Kentucky Public Service Commission since 2009. Each energy system connected to the commonwealth grid will be assigned to a numerical "level" based on rated capacity. Systems at each level must follow recognized standards such as those set by IEEE or UL. Interconnection fees and application review turnaround will depend on the system's level. Customers must carry at least minimum liability insurance coverage on their energy system, and they may be required to install disconnect switches or other safety features by their utility. However, they will own any renewable energy credits they generate and may sell them to the utility at their discretion.
Are solar panels worth it in Boone County, KY?
If you're intending to reside in your home past the solar system's payback period, solar panels are a good decision in Boone County. If you install a 5 kW solar system in Boone County, KY, you might save $22,302.6 over 20 years on average, with a break even point at approximately 7 years.
The cost of not having solar panels in Boone County, KY
Opting not to have solar panels or a separate backup energy solution results in you missing out on the savings noted earlier and leaves you fully reliant on your electric utility for electricity. As shown by recent news stories, total reliance on your utility company is not always ideal.
Yearly, customers in Boone County deal with about 0.98 outages. On average, each outage lasts for 95.68 minutes. Major events like winter storms, overloaded power grids, or wildlife damage can considerably extend these durations.
View the component below to see the number of current electricity customers without power in Boone County.
Regardless of whether a backup battery is present, a solar panel system could reduce the impact of future power outages you might face.
Power Outages
Currently, 0 customers are being tracked in Boone County.
What impacts the cost of solar panels in Boone County, KY?
Your Energy Needs - With larger solar panel systems, the cost per watt decreases, despite the greater upfront expense. Many consumers realize it's a great idea to install a solar system that can make enough power to replace their electric bill, because it helps them reduce costs.
Make & Model - Just like other products, solar panels come in a variety of makes and models. The brand preferences of your chosen installer can make it crucial to select a highly rated company. The utilization of high-quality models is expected to provide a more satisfactory long-term experience for buyers.
Solar Panel Type - Monocrystalline panels have become the industry standard, and for valid reasons. Despite the higher price tag, these panels provide greater energy output. The majority of installation experts use panels constructed from this material.
Your Property - Things like rough terrain, trees, or other challenges may cause the installation to be more difficult. With the use of satellite images, the majority of solar installers nowadays can assess your home and incorporate these considerations into the initial cost estimate.
Labor Rates - The wages that companies offer their employees are different, and these expenses are inevitably reflected in consumer prices. Companies paying higher wages usually garner better reviews for their services and customer service.
Permitting & Interconnection - Local permitting and utility level interconnection fees change by area and will affect your final install price. That said, reputable local installers will be able to build these numbers into your first quotes so there are no surprises.
See what solar panels cost in other Boone County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Boone County, KY Solar Panel Cost FAQs
As of December, 2024, the average solar panel installation cost in Boone County, KY has reached $3.33/W. Post federal tax credit, a 5 kW solar panel system installation in Boone County, KY will roughly cost $11,655.
If you live in Kentucky, you can find 6 rebates and incentives through different utilities and government agencies. In addition, the 30% federal income tax credit is available to almost everyone.
Even though cash payments offer the greatest savings, several financing options for solar panels today are also cost-effective. Many installers collaborate with financing partners and will provide this information in your initial quotes.
Yes, the typical payback time for 5 kW solar panel systems in Boone County, KY is 7 years, and the expected electricity cost savings over 20 years is $22,302.6.
Savings from 
Environmental Impacts 
