Solar Panels Cost $0k-$0k in Grayson County, KY | November, 2024
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How much do solar panels cost in Grayson County, KY in 2024?
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Solar systems in Grayson County, KY during November, 2024 typically are $0 per watt.
Or in other words, for every 1000 watts (or 1 Kw) your system can generate you will spend $0 to get your system installed in . After deducting the 30% federal tax credit, the cost of a 5 kW solar panel system in Grayson County typically totals up to around $0. Note that a more powerful system may be required to adequately cover your energy requirements.
On the left-hand side, you can choose your county to find out the average roof size and the maximum capacity for solar panels in residences in your area. The following summary, below, highlights the price, payback period, and 20-year average savings for a 5 kW system installed in your county.
Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Grayson County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Grayson 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.
Grayson County: $35,827US Average: $16,169
Solar Potential in Grayson County
Estimated system size and solar electricity production per median viable roof in Grayson County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Grayson County, KY & What that Means for Your Solar Panel Pricing
The average monthly electric bill for a Grayson County energy consumer is 149.28, based on an average usage of 1,242 kWh. Smaller homes, including condos and bungalows, are also encompassed by the statistics indicated in the previous sentence.
In November 2024, the electricity rate in Grayson County, KY averages 12.02¢ per kWh.
Before any incentives, an 11 kW solar panel system will cost around $0, with the 30% tax credit, the price drops to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Grayson County
Displayed on the left, you will find a price breakdown for various solar panel system sizes set up in Grayson County. As expected, a more extensive solar system implies a greater initial expense, but it also results in increased electricity savings and larger income tax credits.
Look at the solar panel cost calculator to the right and below to see the cost and benefit details calculated from an average $149.28 electric bill in Grayson County. If you want more personalized results, just modify the $149.28 to whichever your average 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 $1,225 a year
Est. Price
$0
Savings from a 7kWthis system
Est. yearly production 10,211 kWh
Est. monthly savings $102
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 8.75 tons a year
Equivalent to planting 402 trees a year
Equivalent to driving 21,660 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,400 a year
Est. Price
$0
Savings from a 8kWthis system
Est. yearly production 11,669 kWh
Est. monthly savings $117
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 10 tons a year
Equivalent to planting 459 trees a year
Equivalent to driving 24,754 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,575 a year
Est. Price
$0
Savings from a 9kWthis system
Est. yearly production 13,128 kWh
Est. monthly savings $131
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 11.25 tons a year
Equivalent to planting 517 trees a year
Equivalent to driving 27,849 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,750 a year
Est. Price
$0
Savings from a 10kWthis system
Est. yearly production 14,586 kWh
Est. monthly savings $146
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.5 tons a year
Equivalent to planting 574 trees a year
Equivalent to driving 30,943 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $1,925 a year
Est. Price
$0
Savings from a 11kWthis system
Est. yearly production 16,045 kWh
Est. monthly savings $149
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.77 tons a year
Equivalent to planting 587 trees a year
Equivalent to driving 31,608 mi less a year
Grayson County Solar Panel Installation Incentives & Rebates | 2024
Rural entrepreneurs and farmers might find that the REAP Grant pays for 80% to 100% of their costs when installing solar energy or wind energy systems. Wondering if you are eligible? Our REAP Grant eligibility tool can help you find out.
Homeowners can benefit from a 30% federal income tax credit for installing residential solar panels, which makes solar power a feasible option across much of the country. Moreover, many state and local programs are intended to encourage more people to adopt solar power.
In Kentucky, multiple utilities and government organizations offer 6 solar rebate and incentive programs.
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 Grayson County, KY?
Intending to stay in your house beyond the solar payback period? Solar panels are a wise investment in Grayson County. Installing a 5 kW solar system in Grayson County, KY will, on average, save you $35,827.2 over 20 years, and you can expect to break even in about 0 years.
The cost of not having solar panels in Grayson County, KY
The absence of solar panels or another backup power source results in missing out on the previously highlighted savings and full dependence on your electric utility for power. Recent news coverage has revealed that total dependence on your utility company isn't always the most favorable scenario.
Each year, the utilities in Grayson County have recorded about 1.13 outages per customer. Outages generally last for an average of 173.43 minutes. During major occurrences like lightning strikes, overloaded power grids, or wildlife damage, these times can extend significantly.
Take a look at the info below to see the number of current electricity customers without power in Grayson County.
A solar energy system could help mitigate the effects of future outages, with or without a backup battery.
Power Outages
Currently, 0 customers are being tracked in Grayson County.
What impacts the cost of solar panels in Grayson County, KY?
Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is greater. Consumers often find that setting up a solar system that can offset their entire electric bill is useful, resulting in optimal savings.
Make & Model - There are a wide variety of makes and models of solar panels. Because the installer you select might have particular brand preferences, choosing a reputable contractor is even more important. Consumers who opt for better equipment usually enjoy a more favorable long-term experience.
Solar Panel Type - Monocrystalline panels have established themselves as the standard in the industry, and justifiably so. Even with a higher cost, this technology generate more energy. Many installers choose panels made using this material.
Your Property - Every home and property differs in its own way. Challenges like uneven land, trees, or additional challenges can increase the difficulty of installing solar panels. These days, the majority of solar installers are able to utilize satellite images to assess your home and incorporate these elements for the preliminary cost estimate.
Labor Rates - The pay employees get from their employers are different, and these expenses are transferred to the consumers. Businesses often get higher reviews for their services and customer service when they offer better wages.
Permitting & Interconnection - The final price of your installation will be affected by local permitting and utility interconnection fees, which vary by location. Quality local installers will include these figures in your first estimates to ensure transparency.
See what solar panels cost in other Grayson County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Grayson County, KY Solar Panel Cost FAQs
The typical cost per watt for solar panels in Grayson County, KY as of November, 2024 is $0/W. The approximate cost of a 5 kW solar panel system in Grayson County, KY, after deducting federal tax credits, is $0.
Residents of Kentucky can currently take advantage of 6 rebates and incentives offered by various utilities and government bodies. Furthermore, the majority of people qualify for the 30% federal tax credit.
Even though paying cash yields the best savings, there are now multiple financing options for solar panels that are also advantageous. Information about financing options is typically provided in initial quotes provided by installers.
Yes, the payback period for 5 kW solar energy systems in Grayson County, KY averages 0 years, with electricity savings of about $35,827.2 over 20 years.
Savings from 
Environmental Impacts 
