Solar Panels Cost $0k-$0k in Graves County, KY | December, 2024
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How much do solar panels cost in Graves County, KY in 2024?
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Getting solar installed is about $0/W in the month of December, 2024 in Graves County, KY.
Utilizing this cost, we can come to the conclusion that for every 1 kW (1000 watts) your panels can produce you will have to invest $0 to have your solar panels installed. In Graves County, the price of a 5 kW solar panel install is typically $0, after a 30% federal tax credit. In accordance with your electricity consumption, you may require a larger system.
By selecting your county on the left, you can find out the average roof size and the average maximum capacity for residential solar panel systems in your area. The following analysis, below, highlights the costs, payback period, and 20-year average savings for a 5 kW system in your county.
Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Graves County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Graves County: 0 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Graves County: $41,362US Average: $16,152
Solar Potential in Graves County
Estimated system size and solar electricity production per median viable roof in Graves County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Graves County, KY & What that Means for Your Solar Panel Pricing
The average electricity bill for a Graves County resident is 172.34, with a monthly consumption of 1,271 kWh. Small homes, including bungalows and apartments, are also part of the statistics indicated in the previous sentence.
In December 2024, the mean electricity rate in Graves County, KY amounts to 13.56¢ per kWh.
Currently, an 11 kW solar system will set you back about $0at first, but thanks to the 30% federal tax credit, you get a 30% reimbursement, reducing the total to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Graves County
On the left, you will find a cost breakdown for multiple solar panel system sizes installed in Graves County. Naturally, a more extensive solar system means a higher initial investment, but it also leads to greater electricity savings and higher income tax credits.
The solar panel calculator, located down and to the right, offers a detailed cost and benefit analysis based on a typical $172.34 electric bill for Graves County. If you want more personalized results, just change the $172.34 to whatever your usual electricity bill is.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,429 a year
Est. Price
$0
Savings from a 7kWthis system
Est. yearly production 10,211 kWh
Est. monthly savings $119
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 8.81 tons a year
Equivalent to planting 404 trees a year
Equivalent to driving 21,799 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,634 a year
Est. Price
$0
Savings from a 8kWthis system
Est. yearly production 11,669 kWh
Est. monthly savings $136
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 10.06 tons a year
Equivalent to planting 462 trees a year
Equivalent to driving 24,913 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,838 a year
Est. Price
$0
Savings from a 9kWthis system
Est. yearly production 13,128 kWh
Est. monthly savings $153
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 11.32 tons a year
Equivalent to planting 520 trees a year
Equivalent to driving 28,027 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,042 a year
Est. Price
$0
Savings from a 10kWthis system
Est. yearly production 14,586 kWh
Est. monthly savings $170
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.58 tons a year
Equivalent to planting 578 trees a year
Equivalent to driving 31,141 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $2,246 a year
Est. Price
$0
Savings from a 11kWthis system
Est. yearly production 16,045 kWh
Est. monthly savings $172
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.72 tons a year
Equivalent to planting 584 trees a year
Equivalent to driving 31,475 mi less a year
Graves County Solar Panel Installation Incentives & Rebates | 2024
The REAP Grant can potentially cover between 80% and 100% of the installation costs for photovoltaic or wind turbines for rural small businesses and agricultural businesses. If you feel you might be eligible, try our REAP Grant eligibility tool to confirm your qualification.
Adding residential solar panels comes with a 30% federal tax credit, offered to nearly all homeowners, making it a smart option for many areas throughout the United States. State and local governments offer various programs to further encourage the switch to solar energy.
Residents of Kentucky can access 6 solar rebate and incentive programs from a number of utilities and governmental organizations.
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 Graves County, KY?
If your goal is to keep your home well past the payback period of your solar system, solar panels are an clear choice in Graves County. Over a 20 year period, a 5 kW solar system in Graves County, KY could save you around $41,361.6, with the average break even time being 0 years.
The cost of not having solar panels in Graves County, KY
Without solar panels or another backup power source, you lose out on the earlier mentioned savings and are entirely dependent on your electric utility for electricity. As we have seen in many recent news reports, complete reliance on your utility is not always ideal.
The utilities in Graves County have recorded about 1.73 outages per customer per year in recent years. Usually, outages have an average duration of 184.21 minutes. However, during critical events like wildlife damage, overloaded power grids or hurricanes, these times can extend dramatically.
See the graphic below to see the number of current electricity customers without power in Graves County.
Whether or not a backup battery is present, a solar panel system could help ease the impact of future power outages you might face.
Power Outages
Currently, 0 customers are being tracked in Graves County.
What impacts the cost of solar panels in Graves County, KY?
Your Energy Needs - Larger solar panel setups come with a higher price tag, yet the cost per watt lowers as the size of the system expands. For most individuals, installing a system that can generate enough power to fully offset their entire electric bill is beneficial, providing significant savings.
Make & Model - Solar panels, just like many other products, come in different makes and models. The preferences for brand that your contractor has may make it vital to select a reputable installer. Choosing higher quality materials typically ensures a more satisfying long-term experience for the buyer.
Solar Panel Type - The standard in the industry is now monocrystalline panels, and justifiably so. Despite the higher price tag, these panels generate greater energy output. Many installation experts use panels constructed from this material.
Your Property - Every home and property is unique. Uneven land, trees, or v can increase the complexity of the installation. By using satellite images, many solar installers these days can evaluate your home and incorporate these considerations into the preliminary cost estimate.
Labor Rates - Employees get varied wages from different companies, and these costs are passed on to the consumers. Businesses paying more to their employees frequently receive higher reviews for their work and customer service.
Permitting & Interconnection - The final price of your installation will be impacted by local permitting and utility interconnection fees, which differ by location. That said, experienced local installers will be able to build these numbers into your initial quotes so there are no surprises.
See what solar panels cost in other Graves County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Graves County, KY Solar Panel Cost FAQs
The cost per watt for solar panels in Graves County, KY during December of 2024 averages $0/W. In Graves County, KY, installing a 5 kW solar panel system will set you back approximately $0 after federal tax incentives.
Various utility providers and government organizations in Kentucky are offering 6 rebates and incentives at this time. Also, nearly everyone can take advantage of the 30% federal tax credit.
Even though paying cash provides the most savings, there are now multiple financing options for solar panels that also are cost-effective. Installers often have partnerships with financing companies and will include this information in your initial quotes.
Yes, the average 5 kW solar panel payback time in Graves County, KY is 0 years, with expected savings of $41,361.6 on electricity over 20 years.
Savings from 
Environmental Impacts 
