Solar Panels Cost $0k-$0k in Hopkins County, KY | November, 2024
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How much do solar panels cost in Hopkins County, KY in 2024?
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In Hopkins County, KY in November, 2024 you will spend about $0/W to get a solar system.
Utilizing this price per watt, you can conclude that for every 1000 watts (1 kW) of solar power capacounty will require an investment of $0 for installation. When you deduct the 30% federal tax credit, the cost of a 5 kW solar installation in Hopkins County typically comes out to around $0. Please note that a more powerful system may be necessary to satisfy your energy demands.
To the left,select your area to see the typical roof size and the average maximum capacity of solar panels for homes in your county. Below is a summary of the costs, 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.
Hopkins County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Hopkins 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.
Hopkins County: $35,436US Average: $16,169
Solar Potential in Hopkins County
Estimated system size and solar electricity production per median viable roof in Hopkins County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Hopkins County, KY & What that Means for Your Solar Panel Pricing
The monthly kWh usage for a Hopkins County energy consumer is 1,127, with an average electric bill of 147.65. These figures also encompasse apartments and other smaller homes with lower energy needs.
In November 2024, Hopkins County, KY's mean electricity rate is 13.1¢ per kWh.
Before any incentives, a 10 kW solar installation costs around $0, with a 30% tax credit, this drops to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Hopkins County
Displayed on the left side, you'll see a detailed pricing structure of the various sizes of solar panel systems installed in Hopkins County. The initial cost for bigger solar systems is higher, but they also offer higher electricity savings and higher income tax credits.
Check the solar panel cost calculator to the right and below to see the cost and benefit details calculated from an average $147.65 electric bill in Hopkins County. Personalized results can be achieved by changing the $147.65 to your typical bill amount.
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 $1,138 a year
Est. Price
$0
Savings from a 6kWthis system
Est. yearly production 8,752 kWh
Est. monthly savings $95
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 8.18 tons a year
Equivalent to planting 376 trees a year
Equivalent to driving 20,249 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,327 a year
Est. Price
$0
Savings from a 7kWthis system
Est. yearly production 10,211 kWh
Est. monthly savings $111
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 9.54 tons a year
Equivalent to planting 438 trees a year
Equivalent to driving 23,624 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,517 a year
Est. Price
$0
Savings from a 8kWthis system
Est. yearly production 11,669 kWh
Est. monthly savings $126
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 10.91 tons a year
Equivalent to planting 501 trees a year
Equivalent to driving 26,998 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,707 a year
Est. Price
$0
Savings from a 9kWthis system
Est. yearly production 13,128 kWh
Est. monthly savings $142
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.27 tons a year
Equivalent to planting 564 trees a year
Equivalent to driving 30,373 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,896 a year
Est. Price
$0
Savings from a 10kWthis system
Est. yearly production 14,586 kWh
Est. monthly savings $148
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
Hopkins County Solar Panel Installation Incentives & Rebates | 2024
Rural farmers and small business owners could have between 80% and 100% of their photovoltaic or wind turbine installation expenses covered by the REAP Grant. If you believe you might qualify, we suggest utilizing our REAP Grant eligibility tool to verify.
The federal government offers a 30% tax credit for residential solar systems, which makes solar appealing and feasible for a variety of homeowners. A variety of state and local incentives are available to support the use of solar energy.
Different utilities and government entities in Kentucky provide 6 solar rebate and incentive initiatives.
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 Hopkins County, KY?
For homeowners in Hopkins County intending to stay beyond the payback period of their solar system, solar panels are the best choice. With a 5 kW solar system in Hopkins County, KY, the average savings over a 20 period is $35,436, with break even generally occurring at 0 years.
The cost of not having solar panels in Hopkins County, KY
Without solar panels or another backup power source, you miss out on the savings highlighted previously and are entirely on your electric utility for electricity. Full reliance on your utility provider is not always ideal, as recent examples in the news have highlighted.
On average, customers in Hopkins County have encountered 1.05 utility outages per year in recent times. Usually, outages have an average duration of 105.09 minutes. However, during critical events like wildlife damage, aging infrastructure or lightning strikes, these times can extend dramatically.
Take a look at the component below to see the number of current electricity customers without power in Hopkins County.
Whether or not it includes a backup battery, a solar panel system could mitigate the effects of future power interruptions you might experience.
Power Outages
Currently, 0 customers are being tracked in Hopkins County.
What impacts the cost of solar panels in Hopkins County, KY?
Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is lowered as the system size increases. It is often beneficial for individuals to set up a solar system that can make enough electricity to fully cover their electric bill, which results in substantial savings.
Make & Model - Similar to other products, solar panels and mounting equipment are offered in a wide variety of makes and models. The installer’s preference for system makes it essential to choose a reputable installer. Investing in superior quality makes and models can result in a much better long-term experience for the buyer.
Solar Panel Type - For valid reasons, monocrystalline panels have emerged as the standard in the industry. Although the cost is more, they yield more energy. The majority of installers use these types of panels.
Your Property - Each property and residence is unique. Issues like trees, uneven landscapes, or other impediments may add to the complexity of the installation. Using satellite images, solar installers these days can assess your home and factor in these considerations into the preliminary cost estimate.
Labor Rates - Differences in employee wages across companies lead to expenses that are borne by the consumers. Companies that invest in higher wages usually see higher reviews for their services and customer service.
Permitting & Interconnection - Your installation cost will be affected by area-specific permitting and utility interconnection fees. Good local installers will incorporate these figures into your first estimates to avoid any surprises.
See what solar panels cost in other Hopkins County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Hopkins County, KY Solar Panel Cost FAQs
The typical cost per watt for solar panels in Hopkins County, KY as of November, 2024 is $0/W. For a 5 kW solar panel system, the total cost in Hopkins County, KY after federal tax credits is around $0.
If you live in Kentucky, you can find 6 rebates and incentives through different utilities and government agencies. Moreover, the 30% federal tax credit is accessible to nearly everyone.
Cash payments yield the highest savings, yet several financing options now available for solar panels are financially beneficial as well. Financing options are frequently available through installers and will be detailed in your initial quotes.
Yes, homeowners in Hopkins County, KY can expect 5 kW solar panels to pay off in 0 years, with an estimated $35,436 in electricity savings during a 20-year span.
Savings from 
Environmental Impacts 
