Solar Panels Cost 9.3k-18k in Louisville/Jefferson County metro government, KY | October, 2024

Solar Panels Cost $9.3k-$18k in Louisville/Jefferson County metro government, KY | October, 2024

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How much do solar panels cost in Louisville/Jefferson County metro government, KY in 2024?

It costs about $3.34/W to go solar in October, 2024 in Louisville/Jefferson County metro government, KY.

For every 1000 watts (1 kW) your solar system can produce, you will need to invest, on average, $3,340 to have it installed. In Louisville/Jefferson County metro government, the cost of a 5 kW panel install is typically $11,690, after a 30% federal tax credit. In accordance with your energy consumption, your home might need a larger system.

Select your county from the menu on the left to view the average roof size and maximum residential solar capacity for homes in your area. Below, you can see a full breakdown 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.
Louisville/Jefferson County metro government: $11,690US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Louisville/Jefferson County metro government: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Louisville/Jefferson County metro government: $9,950US Average: $15,784

Solar Potential in Louisville/Jefferson County metro government

Estimated system size and solar electricity production per median viable roof in
Louisville/Jefferson County metro government.

Roof size 661sq. ft.
Capacity 9.25kW DC
Electricity 10.6kkWh AC per yr.

Electricity Costs in Louisville/Jefferson County metro government, KY & What that Means for Your Solar Panel Pricing

The average monthly electric bill for a Louisville/Jefferson County metro government energy consumer is $111.04, based on an typical usage of 902 kWh. Keep in mind, this statistic includes smaller residential units such as apartments, which generally have reduced energy consumption.

As of October 2024, the mean rate for electricity per kWh in Louisville/Jefferson County metro government, KY is 12.31¢.

Average electricity users in Louisville/Jefferson County metro government will require a solar power system of 8 kW or higher to take care of all of their electricity requirements. The initial cost for an 8 kW setup amounts to $26,720, but with a 30% tax credit, your cost is reduced to $18,704.

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Average solar panel costs by system size in Louisville/Jefferson County metro government

On the left side below, you can find a detailed cost breakdown for different solar panel system sizes installed in Louisville/Jefferson County metro government. A bigger solar array will obviously cost more, but it will also offer more significant electricity savings and more substantial income tax credits.

The solar panel cost calculator down and to the right details costs and benefits, based on an average $111.04 electric bill in Louisville/Jefferson County metro government If you want tailored results, modify the $111.04 to your average electricity bill amount.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $700 a year
Est. Price
$9,352
Savings from a 4kWthis system
  • Est. yearly production 5,835 kWh
  • Est. monthly savings $58
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 6.17 tons a year
  • Equivalent to planting 284 trees a year
  • Equivalent to driving 15,282 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $875 a year
Est. Price
$11,690
Savings from a 5kWthis system
  • Est. yearly production 7,293 kWh
  • Est. monthly savings $73
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 7.72 tons a year
  • Equivalent to planting 354 trees a year
  • Equivalent to driving 19,103 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,050 a year
Est. Price
$14,028
Savings from a 6kWthis system
  • Est. yearly production 8,752 kWh
  • Est. monthly savings $88
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 9.26 tons a year
  • Equivalent to planting 425 trees a year
  • Equivalent to driving 22,923 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,225 a year
Est. Price
$16,366
Savings from a 7kWthis system
  • Est. yearly production 10,211 kWh
  • Est. monthly savings $102
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 10.8 tons a year
  • Equivalent to planting 496 trees a year
  • Equivalent to driving 26,744 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,400 a year
Est. Price
$18,704
Savings from a 8kWthis system
  • Est. yearly production 11,669 kWh
  • Est. monthly savings $111
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 11.75 tons a year
  • Equivalent to planting 539 trees a year
  • Equivalent to driving 29,073 mi less a year

Louisville/Jefferson County metro government Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can potentially cover between 80% and 100% of the installation costs for solar energy or wind turbines for rural small businesses and agricultural businesses. If you feel you might be eligible, try our REAP Grant eligibility tool to confirm your qualification.

Homeowners can benefit from a 30% federal income tax credit for installing residential solar panels, making solar power a feasible option in much of the country. A number of state and local programs are set up to enhance the adoption of solar energy.

There are 6 solar incentive and rebate programs in Kentucky, provided by different utilities and governmental agencies.

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 Kentucky?

For those expecting to remain in their homes after the solar system's payback period, adding solar panels is a clear choice in Louisville/Jefferson County metro government. Over a 20 year period, a 5 kW solar system in Louisville/Jefferson County metro government, KY could save you approximately $14,959.6, with the average break even time being 9 years.

The cost of not having solar panels in Louisville/Jefferson County metro government, KY

In addition to missing out on the savings mentioned previously, not installing solar panels or another form of backup power leaves you completely dependent on your electric utility. Full reliance on your utility isn't always the best scenario as the news has recently highlighted.

Each year, the average number of outages per customer in Louisville/Jefferson County metro government is about 0.94. Outages typically last for an average of 86.19 minutes. Major occurrences like thunderstorms, planned maintenance, or aging infrastructure can lead to a significant rise in these time frames.

A solar panel system, with or without a backup battery, could help mitigate the effects of future outages you might encounter.

Power Outages

Currently, 0 customers are being tracked in Jefferson County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Louisville/Jefferson County metro government, KY?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt reduces as the system size increases. Consumers often find that setting up a solar system to fully cover their electric bill is a smart choice, leading to the most savings.

Make & Model - There are a variety of makes and models of solar panels. The contractor’s preference for brand makes it essential to select a recommended installer. Better makes and models typically provide an enhanced long-term experience for the buyer.

Solar Panel Type - There's a good reason why monocrystalline panels are now considered the industry standard. They have a higher price, but they produce more energy. Many solar panel installers prefer this type of material.

Your Property - No two properties or homes are identical. Rough terrain, trees, or additional considerations can increase the difficulty of the installation. Solar installers today frequently utilize satellite imagery to evaluate your home and factor in these factors into the preliminary cost estimate.

Labor Rates - Various wages are offered to employees by various companies, and these costs are transferred to the consumers. Higher wages often lead to businesses getting better reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility level interconnection fees differ by area and will affect your final install price. That said, reputable local installers will be able to incorporate these numbers into your initial quotes so there are no surprises.

See what solar panels cost in other KY cities

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Who are the best solar installers in Louisville/Jefferson County metro government?

YellowLite

Cleveland, OH(877) 743-8757

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Reparation of solar arrays.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.

SunWind Power Systems

(502) 276-5954

Services

  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Solgen Power

Pasco, WA(855) 220-0778

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Appalachian Renewable Power Systems

Stewart CDP, OH(740) 277-8498

Services

  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Pure Power Solar

Louisville/Jefferson County metro government, KY(502) 650-0353

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Reparation of solar arrays.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Icon Solar

Milford, OH(513) 396-7777

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Louisville/Jefferson County metro government, KY Solar Panel Cost FAQs

  • As of October, 2024, the average per-watt cost for solar panels in Louisville/Jefferson County metro government, KY is $3.34/W. In Louisville/Jefferson County metro government, KY, the cost of installing a 5 kW solar panel system is approximately $11,690 after applying the federal tax credit.

  • At present, there are 6 rebates and incentives available to Kentucky residents from various utility and government programs. Moreover, nearly everyone is eligible for the 30% federal income tax credit.

  • Choosing to pay cash offers the most savings, but today there are numerous financing options for solar panels that are also financially advantageous. Your preliminary quotes will usually contain financing options available through installers.

  • Yes, in Louisville/Jefferson County metro government, KY, the average payback period for 5 kW solar panels is 9 years, resulting in average electricity savings of $14,959.6 over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01