Solar Panels Cost $0k-$0k in Letcher County, KY | November, 2024
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How much do solar panels cost in Letcher County, KY in 2024?
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To get a solar system costs approximately $0 per watt in Letcher County, KY in November, 2024.
Based on this cost per watt, you are able to come to the conclusion that for every 1 kW (1000 watts) your system can produce you will have to spend $0 to have your panels installed. After applying the 30% federal tax credit, a 5 kW solar panel install in Letcher County generally costs $0. Your electricity consumption levels may need a larger system.
On the left-hand side, pick your county to determine the average roof size and the average maximum capacity for solar panels on homes within your area. Find below a full analysis of the {price|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.
Letcher County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Letcher 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.
Letcher County: $40,087US Average: $16,169
Solar Potential in Letcher County
Estimated system size and solar electricity production per median viable roof in Letcher County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Letcher County, KY & What that Means for Your Solar Panel Pricing
For Letcher County households, the average monthly kWh usage is 1,182, with an typical electric bill of 167.03. Please note that this number covers data from apartments and other compact residences with lower energy needs.
The rate of electricity in Letcher County, KY, averaging, is 14.13¢ per kWh for November 2024.
You'll spend $0 on a 10 kW setup after including the 30% federal income tax credit in your calculations.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Letcher County
On the left, you will find a breakdown of prices for various solar panel system sizes installed in Letcher County. The bigger the solar array, the larger the initial expense, but also the greater electricity savings and income tax credits you'll receive.
In the solar panel cost calculator found below and to the right, you can examine a cost and benefit breakdown to match an average $167.03 electric bill in Letcher County. To get tailored results, just adjust the $167.03to reflect your usual electricity 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 $1,225 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 7.81 tons a year
Equivalent to planting 359 trees a year
Equivalent to driving 19,325 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 9.11 tons a year
Equivalent to planting 418 trees a year
Equivalent to driving 22,546 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 10.41 tons a year
Equivalent to planting 478 trees a year
Equivalent to driving 25,767 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 11.71 tons a year
Equivalent to planting 538 trees a year
Equivalent to driving 28,988 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 $167
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
Letcher County Solar Panel Installation Incentives & Rebates | 2024
The REAP Grant is designed to assist rural agricultural enterprises and small businesses by covering 80% to 100% of the costs associated with solar or wind turbine installations. If you think you might be in this category, we suggest verifying your qualification with our REAP Grant eligibility tool.
For residential solar installations, the majority of homeowners are eligible for a 30% federal income tax credit, which makes solar energy a feasible choice in many parts of the country. State and local governments offer various programs to promote the switch to solar energy.
Residents of Kentucky can access 6 solar rebate and incentive initiatives from a variety 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 Letcher County, KY?
If you're intending to stay in your home past the period required to pay back your solar investment, opting for solar panels is a good decision in Letcher County. In Letcher County, KY, a 5 kW solar system installation might save you $40,087.2 on average over 20 years, with a standard break even point of 0 years.
The cost of not having solar panels in Letcher County, KY
In addition to missing out on the aforementioned savings, not having solar panels or a separate backup energy source results in complete dependence on your electric utility for electricity. Recent news coverage has demonstrated that complete reliance on your utility company is not always ideal.
In recent times, the average number of utility outages per customer annually in Letcher County has been about 2.02. On average, the length of an outage is 307.77 minutes. Major events like heavy rain and flooding, wildlife damage, or aging infrastructure can cause these durations to rise considerably.
Take a look at the component below to see the number of current electricity customers without power in Letcher County.
A solar energy system, regardless of a backup battery, could lessen the effects of any future power interruptions you might encounter.
Power Outages
Currently, 0 customers are being tracked in Letcher County.
What impacts the cost of solar panels in Letcher County, KY?
Your Energy Needs - While the upfront cost is higher, the price per watt drops with larger solar panel systems. Individuals often realize that installing a solar system to fully cover their electric bill is a beneficial decision, resulting in the most savings.
Make & Model - Just like many products, solar panels are offered in a variety of makes and models. The system preferences of your chosen installer can make it essential to choose a highly rated company. Selecting superior quality materials generally provides a more favorable long-term experience for the buyer.
Solar Panel Type - It's understandable that monocrystalline panels are now the standard in the industry. Although the cost is more, they yield more energy. Most installers use these types of panels.
Your Property - Each property and home presents unique challenges. Sloping terrain, trees, or other impediments may complicate the installation process. By using satellite images, solar installers these days can evaluate your home and incorporate these elements into the first cost estimate.
Labor Rates - The costs associated with the different wages given by companies to their employees are borne by the consumers. Companies paying more to their employees typically get higher reviews for their work and customer service.
Permitting & Interconnection - Depending on the location, permitting and utility interconnection fees will influence your installation price. Quality local installers will integrate these numbers into your preliminary quotes to prevent any surprises.
See what solar panels cost in other Letcher County cities
Go Solar for less than your cell phone bill.
Who are the best solar installers in Letcher County?
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Letcher County, KY Solar Panel Cost FAQs
During November, 2024, the average price for solar panel installations in Letcher County, KY is $0/W. In Letcher 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. In addition, the 30% federal income tax credit is available to almost everyone.
Cash payments result in the greatest savings, but numerous financing options for solar panels that are financially advantageous are now available. Financing options are frequently available through installers and will be included in your initial quotes.
Yes, on average, 5 kW solar panels in Letcher County, KY pay for themselves in 0 years, with homeowners saving approximately $40,087.2 on electricity over 20 years.
Savings from 
Environmental Impacts 
