Solar Panels Cost $0k-$0k in Lyon County, KY | November, 2024
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How much do solar panels cost in Lyon County, KY in 2024?
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The average cost per watt of solar panel installations in Lyon County, KY in November, 2024 is $0/W.
So, solar panels will cost you about $0 per 1000 watts (1 kW) of production capacounty. After receiving the 30% federal tax credit, a 5 kW solar installation in Lyon County will require you to pay $0. Please note that a more extensive system could be required to meet your energy demands.
By selecting your county on the left, you can discover the average roof size and the average maximum capacity for residential solar panel systems in your area. The following analysis, below, highlights the 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.
Lyon County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Lyon 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.
Lyon County: $37,061US Average: $16,169
Solar Potential in Lyon County
Estimated system size and solar electricity production per median viable roof in Lyon County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Lyon County, KY & What that Means for Your Solar Panel Pricing
For Lyon County energy consumers, the average monthly kWh usage is 1,169, with an average electric bill of 154.42. It is important to note that the statistic also covers data from smaller residential units, including apartments.
In November 2024, the mean electricity rate in Lyon County, KY is 13.22¢ per kWh.
Currently, a 10 kW solar panel system will set you back about $0initially, but thanks to the 30% federal tax credit, you get a 30% reimbursement, lowering the price to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Lyon County
Located below and to the left, you can find the pricing details for different sizes of the solar panel systems installed in Lyon County. Larger solar installations carry a greater cost, yet they also yield increased electricity savings and larger income tax credits.
The calculator to the right and below gives a detailed summary of solar panel costs and benefits, based on an average electric bill of $154.42 in Lyon County. Adjust the $154.42 to your typical electricity bill payment 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 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 0 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 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 0 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 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 0 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 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 0 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 $154
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 0 mi less a year
Lyon County Solar Panel Installation Incentives & Rebates | 2024
Rural small businesses and farms can benefit from the REAP Grant, which may cover between 80% and 100% of your solar energy or wind turbine installation costs. Believe you fall into this category? Check your qualification with our REAP Grant eligibility tool.
For those considering residential solar, the 30% federal income tax credit is offered to almost all homeowners, which makes solar power a smart investment in numerous parts of the country. Additionally, various state and local programs exist to further encourage the adoption of solar power.
Multiple utilities and governmental agencies in Kentucky offer 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 Lyon County, KY?
For homeowners in Lyon County looking to stay beyond the payback period of their solar system, solar panels are the best choice. With a 5 kW solar system in Lyon County, KY, the average savings over a 20 period is $37,060.8, with break even usually occurring at 0 years.
The cost of not having solar panels in Lyon County, KY
In addition to forgoing the savings mentioned previously, not installing solar panels or another form of backup power results in you being completely dependent on your electric utility. Full reliance on your utility provider isn't always ideal, as recent examples in the news have shown.
There are about 1.05 outages per customer annually in Lyon County. The average duration of each outage is 105.09 minutes. During severe events like planned maintenance, grid management errors or tornadoes, these times can grow significantly longer.
Take a look at the graphic below to see the number of current electricity customers without power in Lyon County.
With or without a backup battery, a solar panel system could reduce the stress of future power disruptions you might encounter.
Power Outages
Currently, 0 customers are being tracked in Lyon County.
What impacts the cost of solar panels in Lyon County, KY?
Your Energy Needs - The price per watt lowers with larger solar panel systems, even though the upfront cost is larger. For most consumers, installing a system that can produce enough power to reduce their entire electric bill is useful, providing significant savings.
Make & Model - Like many products, solar panels and mounting equipment are offered in a variety of makes and models. The system preferences of your selected installer can make it crucial to select a reputable installer. The use of better materials is probably will result in a more satisfactory long-term experience for buyers.
Solar Panel Type - For good reason why monocrystalline panels are now considered the industry standard. They come with a higher price but are more energy-efficient. The majority of solar panel installers use panels made of this material.
Your Property - No two properties or homes are identical. Trees, uneven landscapes, or additional hurdles can increase the difficulty of the installation. These days, the majority of solar installers can evaluate your home with satellite images and incorporate these elements in the preliminary cost estimate.
Labor Rates - Various wages are paid to employees by various companies, and these expenses are transferred to the consumers. It is often observed that companies with higher wages receive superior reviews for their services and customer service.
Permitting & Interconnection - Your final installation price will be influenced by the permitting and utility interconnection fees, which change by area. That said, experienced local installers will be able to build these numbers into your preliminary quotes so there are no surprises.
See what solar panels cost in other Lyon County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Lyon County, KY Solar Panel Cost FAQs
In Lyon County, KY, the mean cost per watt for solar panels as recorded in November, 2024 is $0/W. The installation of a 5 kW solar panel system in Lyon County, KY will cost about $0 after federal tax credits.
At present, there are 6 rebates and incentives available to Kentucky residents from various utility and government programs. Additionally, the vast majority qualify for the 30% federal tax credit.
Paying in cash provides the highest savings, but there are several financing options available today for solar panels that are also financially advantageous. Information about financing options is typically detailed in initial quotes provided by installers.
Yes, in Lyon County, KY, 5 kW solar panel systems usually pay off in 0 years, providing an average electricity cost savings of $37,060.8 over a 20-year period.
Savings from 
Environmental Impacts 
