Solar Panels Cost $0k-$0k in Henderson County, KY | November, 2024
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How much do solar panels cost in Henderson County, KY in 2024?
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Going solar in Henderson County, KY averages out to $0 per watt in November, 2024.
You should expect costs to be $0, on average, for every 1 kW (or 1000 watts) of solar energy your solar system will need to produce. We are able to come to this conclusion as a result of the rate price cost per watt above. In Henderson County, you will pay approximately $0 for a 5 kW panel install after subtracting the 30% federal income tax credit. Remember, a bigger system might be required to fulfill your energy requirements effectively.
By selecting your county on the left, you can view the average roof size and the average maximum capacity for residential solar panel systems in your area. See below a full overview of the {price|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.
Henderson County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Henderson 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.
Henderson County: $40,507US Average: $16,169
Solar Potential in Henderson County
Estimated system size and solar electricity production per median viable roof in Henderson County.
Roof size 715sq. ft.
Capacity 10kW DC
Electricity 12.8kkWh AC per yr.
Electricity Costs in Henderson County, KY & What that Means for Your Solar Panel Pricing
In Henderson County, the monthly kWh usage for residents averages 1,169 kWh, with an average bill of 168.78. Keep in mind that this number includes data from both apartments and smaller homes with lower energy requirements.
As of November 2024, the mean rate for electricity per kWh in Henderson County, KY is 14.44¢.
The estimated cost for a 10 kW solar system is $0 before incentives, but with a 30% federal tax credit, it drops to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Henderson County
Displayed below and to the left, you can find a comprehensive pricing structure for multiple solar panel system sizes set up in Henderson County. Larger solar installations carry a greater cost, yet they also offer increased electricity savings and higher income tax credits.
The solar panel cost calculator to the right and below analyzes costs and benefits, using an average $168.78 electric bill in Henderson County To achieve tailored results, adjust the $168.78 to reflect your typical electricity payment.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,225 a year
Est. Price
$0
Savings from a 6kWthis system
Est. yearly production 8,752 kWh
Est. monthly savings $102
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 7.72 tons a year
Equivalent to planting 354 trees a year
Equivalent to driving 19,097 mi less a year
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 9 tons a year
Equivalent to planting 413 trees a year
Equivalent to driving 22,280 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 10.29 tons a year
Equivalent to planting 472 trees a year
Equivalent to driving 25,462 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 11.57 tons a year
Equivalent to planting 532 trees a year
Equivalent to driving 28,645 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 $169
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
Henderson County Solar Panel Installation Incentives & Rebates | 2024
The REAP Grant currently offers between 80% and 100% coverage for the installation costs of photovoltaic or wind turbines for rural small businesses and agricultural businesses. Think you fit the criteria? Verify your eligibility with our REAP Grant eligibility tool.
Thanks to the 30% federal income tax credit, residential solar installations are within reach for most people, rendering solar power a feasible investment across various states. Furthermore, various state and local programs are in place to further encourage the adoption of solar power.
Multiple utilities and government agencies in Kentucky provide 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 Henderson County, KY?
If you intend to own your residence longer than the solar system's payback period, solar panels are a good investment in Henderson County. By installing a 5 kW solar system in Henderson County, KY, you can expect to save approximately $40,507.2 over 20 years, with the break even point usually being 0 years.
The cost of not having solar panels in Henderson County, KY
Not having solar panels or any other backup energy system results in missing the earlier mentioned savings and full dependence on your electric utility for electricity. Many recent examples in the news have shown that total dependence on your utility company is not always the best option.
Annually, customers in Henderson County have experienced approximately 1.05 utility outages.Each year, customers in Henderson County have dealt with approximately 1.05 utility outages. On average, an outage lasts 105.09 minutes. When major events such as thunderstorms, grid management errors, or construction accidents occur, these durations can increase significantly
Take a look at the info below to see the number of current electricity customers without power in Henderson 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 Henderson County.
What impacts the cost of solar panels in Henderson County, KY?
Your Energy Needs - Larger solar panel setups come with a larger price tag, yet the cost per watt decreases as the size of the system grows. Individuals often realize that setting up a solar system that can cover their entire electric bill is useful, ensuring significant savings.
Make & Model - Solar panels and mounting equipment, just like many other products, are available in different makes and models. The contractor’s preference for system makes it essential to select a reputable installer. Buyers who choose high-quality materials generally enjoy a more favorable long-term experience.
Solar Panel Type - Monocrystalline panels have emerged as the industry standard, and for good reason. These panels are more costly, yet they generate more energy. Most installers tend to utilize panels made from this material.
Your Property - Each property and home has its own characteristics. Factors like trees, irregular terrain, or other hindrances can make the installation more challenging. Today, the most solar installers can assess your home with satellite images and incorporate these considerations in the initial cost estimate.
Labor Rates - Companies offer different pay rates to their employees, which are then reflected in the prices consumers pay. Higher reviews for work and customer service are generally associated with businesses that pay higher wages.
Permitting & Interconnection - Permitting and utility interconnection fees vary locally and will impact your installation cost. Reliable installers will factor these costs into your first quotes to prevent unexpected expenses.
See what solar panels cost in other Henderson County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Henderson County, KY Solar Panel Cost FAQs
As of November, 2024, the average cost for solar panels in Henderson County, KY is $0/W. Installing a 5 kW solar panel system in Henderson County, KY will cost approximately $0 after applying the federal tax credit.
Various utility providers and government organizations in Kentucky are offering 6 rebates and incentives at this time. Furthermore, the majority of people qualify for the 30% federal tax credit.
While paying cash provides the most savings, several financing options for solar panels exist that also make financial sense. Your preliminary quotes will usually include financing options available through installers.
Yes, in Henderson County, KY, the average payback period for 5 kW solar panels is 0 years, resulting in average electricity savings of $40,507.2 over 20 years.
Savings from 
Environmental Impacts 
