Solar Panels Cost $0k-$0k in Knox County, KY | November, 2024
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How much do solar panels cost in Knox County, KY in 2024?
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To go solar in the month of November, 2024 in Knox County, KY averages out to $0/W.
Applying the price, you should expect costs to be $0, on average, for every 1 kW (or 1000 watts) of solar energy your system will need to produce. A 5 kW panel install in Knox County will typically cost you $0 after the 30% federal tax credit. A larger system could be required to adequately cover your energy consumption effectively.
Select your county from the menu on the left to determine the average roof size and maximum solar panel system capacity for homes in your area. Displayed below is an analysis of the price, 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.
Knox County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Knox 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.
Knox County: $35,443US Average: $16,169
Solar Potential in Knox County
Estimated system size and solar electricity production per median viable roof in Knox County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Knox County, KY & What that Means for Your Solar Panel Pricing
The typical electric bill for a Knox County energy consumer is 147.68, with monthly usage typically at 1,151 kWh. Apartments and small homes with reduced energy usage are included in this figure.
In November 2024, the electricity rate in Knox County, KY averages 12.83¢ per kWh.
The initial cost for a 10 kW solar installation will be $0, but after a 30% tax credit, your expense drops to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Knox County
To the left, you'll see a full pricing details of the different sizes of solar panel systems implemented in Knox County. Although a more extensive solar installation has a greater cost, it also brings increased electricity savings and larger income tax credits.
In the calculator located to the right and below, you will find a breakdown of solar panel costs and benefits, calculated with an average $147.68 electric bill for Knox County. Simply change the $147.68 to your regular electricity bill for customized results.
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
Knox County Solar Panel Installation Incentives & Rebates | 2024
Small businesses and agricultural enterprises in rural areas may see between 80% and 100% of their solar energy or wind turbine installation costs covered by the REAP Grant. Think you might qualify? Use our REAP Grant eligibility tool to confirm your eligibility.
A 30% federal tax credit is accessible to most homeowners for residential solar installations, which renders solar energy a feasible choice in various regions throughout the United States. Moreover, there are various state and local incentives to further encourage the adoption of solar energy.
A total of 6 solar rebates and incentives are available in Kentucky through multiple utility companies and government 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 Knox County, KY?
If your intention is to stay in your home beyond the solar payback period, installing solar panels is a good option in Knox County. If you install a 5 kW solar system in Knox County, KY, you might save $35,443.2 over 20 years on average, with a break even point at approximately 0 years.
The cost of not having solar panels in Knox County, KY
Besides missing out on the previously mentioned savings, not installing solar panels or a separate backup energy source results in complete dependence on your electric utility for electricity. Recent news has proven that total reliance on your utility company isn't always ideal.
In recent years, Knox County has seen an average of 1.45 utility outages per customer each year. The average length of an outage is 173.33 minutes. However, during significant events such as heavy rain and flooding, equipment failure, or vandalism, this duration can grow considerably.
See the graphic below to see the number of current electricity customers without power in Knox County.
Having a solar panel system, with or without a backup battery, could alleviate the strain of any future outages you may experience.
Power Outages
Currently, 0 customers are being tracked in Knox County.
What impacts the cost of solar panels in Knox County, KY?
Your Energy Needs - While the upfront cost is greater, the price per watt drops with larger solar panel systems. Homeowners often find that installing a solar system that can offset their entire electric bill is advantageous, leading to optimal savings.
Make & Model - Just like other industries, the solar energy sector features a range of solar panel brands and designs. Picking an installer with certain system preferences means it's even more important crucial to go with a reputable contractor. Buyers often find that utilizing better quality materials leads to a more positive long-term experience.
Solar Panel Type - It's not surprising that monocrystalline panels are now the standard in the industry. Even with a higher cost, this technology produce more energy. The majority of installers choose panels crafted using this material.
Your Property - Elements such as trees, uneven landscapes, or other hindrances might complicate the installation process. Nowadays, solar installers commonly leverage satellite images to assess your home and factor in these factors into the preliminary cost estimate.
Labor Rates - The costs related to the different wages offered by companies to their employees are borne by the consumers. Businesses that pay higher wages often get higher reviews for their services and customer service.
Permitting & Interconnection - Regional differences in permitting and utility interconnection fees will impact your installation cost. Good local installers will build these figures into your preliminary estimates to prevent any surprises.
See what solar panels cost in other Knox County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Knox County, KY Solar Panel Cost FAQs
In November, 2024, the average cost of solar panels per watt in Knox County, KY is $0/W. The approximate cost of a 5 kW solar panel system in Knox County, KY, after deducting federal tax credits, is $0.
Utilities and government agencies in Kentucky are currently offering 6 different rebates and incentives. Moreover, the 30% federal tax credit is accessible to nearly everyone.
Even though paying cash provides the most savings, there are now multiple financing options for solar panels that also are cost-effective. Initial quotes from installers will frequently detail information about available financing options.
Yes, in Knox County, KY, 5 kW solar panel systems typically pay off in 0 years, and users save around $35,443.2 in electricity costs over 20 years.