Solar Panels Cost $0k-$0k in Martin County, KY | November, 2024
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How much do solar panels cost in Martin County, KY in 2024?
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For solar panels in Martin County, KY, the cost per watt in November, 2024 is approximately $0/W.
Stemming from the rate per watt, solar panel installations will cost you about $0 per 1000 watts (1 kW) of generation capacounty. When you consider the 30% federal tax credit, you can expect to spend about $0 for a 5 kW solar panel system in Martin County. It's worth noting that a more extensive system could be required to adequately cover your energy requirements.
On the left side, choose your county to see the average roof size and the maximum capacity of solar panels for homes in your area. Displayed below is a summary 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.
Martin County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Martin 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.
Martin County: $40,992US Average: $16,169
Solar Potential in Martin County
Estimated system size and solar electricity production per median viable roof in Martin County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Martin County, KY & What that Means for Your Solar Panel Pricing
The average monthly kWh usage for a Martin County resident is 1,187, with an average monthly bill of 170.80. Apartments and compact residences, which typically have diminished energy needs, are covered in this figure.
The rate of electricity in Martin County, KY, averaging, is 14.39¢ per kWh for November 2024.
Upfront, a 10 kW solar system is priced at around $0, but with a 30% federal tax credit, this drops to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Martin County
On the left side below, there is the cost breakdown for multiple sizes of the solar panel systems set up in Martin County. The bigger the solar array, the higher the initial expense, but also the more substantial electricity savings and income tax credits you'll receive.
Using the solar panel cost calculator situated to the right and below, you can view a detailed cost and benefit analysis based on an average electric bill of $170.80 in Martin County. Modify the $170.80 to your typical bill payment for personalized 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 $1,225 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 7.62 tons a year
Equivalent to planting 350 trees a year
Equivalent to driving 18,873 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 8.9 tons a year
Equivalent to planting 409 trees a year
Equivalent to driving 22,019 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 10.17 tons a year
Equivalent to planting 467 trees a year
Equivalent to driving 25,165 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 11.44 tons a year
Equivalent to planting 525 trees a year
Equivalent to driving 28,310 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 $170
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.71 tons a year
Equivalent to planting 584 trees a year
Equivalent to driving 31,456 mi less a year
Martin County Solar Panel Installation Incentives & Rebates | 2024
For rural farms and small businesses, the REAP Grant might currently cover between 80% and 100% of the expenses for installing solar energy or wind energy systems. Think you might be eligible? Confirm your qualification with our REAP Grant eligibility tool.
With the availability of a 30% federal income tax credit, solar energy becomes a practical solution for nearly all homeowners, notably in various parts of the country. Alongside federal incentives, there are many state and local efforts to support solar energy adoption.
Kentucky residents have access to 6 solar rebate and incentive programs from different 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 Martin County, KY?
Homeowners in Martin County who intend to live in their residence beyond the payback period of their solar system will find solar panels an excellent choice. By installing a 5 kW solar system in Martin County, KY, you can expect to save approximately $40,992 over 20 years, with the break even point generally being 0 years.
The cost of not having solar panels in Martin County, KY
The lack of solar panels or an alternative energy backup means you'll miss out on the earlier mentioned savings and be entirely reliant on your electric utility for power. The news has given several examples showing that total dependence on your utility isn't always the best idea.
On a yearly basis, the average number of outages per customer in Martin County has been 2.38. On average, the length of an outage is 488.82 minutes. Major events like high winds, equipment failure, or vandalism can cause these durations to rise considerably.
Take a look at the info below to see the number of current electricity customers without power in Martin County.
A solar panel system, whether or not it has a backup battery, could help reduce the impact of future outages you might encounter.
Power Outages
Currently, 0 customers are being tracked in Martin County.
What impacts the cost of solar panels in Martin County, KY?
Your Energy Needs - Larger solar panel systems come with a greater upfront cost, but the price per watt is reduced. Individuals often find that installing a solar system that can replace their electric bill is very advantageous. This method leads to maximum savings.
Make & Model - Just like other industries, the solar energy sector features a wide range of solar panel and mounting equipment brands and designs. Given the particular system preferences an contractor might have, selecting a highly rated contractor is crucial. The utilization of high-quality materials is likely to result in a more favorable long-term experience for buyers.
Solar Panel Type - It's obvious why monocrystalline panels are now the preferred option in the industry. These panels are more expensive, yet they provide more energy. Many installers tend to utilize panels made from this material.
Your Property - Every property and home is distinct. Sloped land, trees, or other considerations can make the installation more difficult. Many solar installers these days are able to utilize satellite imagery to assess your home and factor in these aspects in the initial cost estimate.
Labor Rates - Companies offer different wages to their employees, and these costs are eventually borne by the consumers. Often, businesses paying more in wages also enjoy higher ratings for their services and customer service.
Permitting & Interconnection - Depending on the location, permitting and utility interconnection fees will influence your installation price. Reliable installers will factor these costs into your initial quotes to prevent unexpected expenses.
See what solar panels cost in other Martin County cities
Go Solar for less than your cell phone bill.
Who are the best solar installers in Martin County?
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Martin County, KY Solar Panel Cost FAQs
As recorded in November, 2024, the standard cost for solar panel installations in Martin County, KY is $0/W. Installing a 5 kW solar panel system in Martin County, KY will cost approximately $0 after applying the federal tax credit.
Residents of Kentucky can currently take advantage of 6 rebates and incentives offered by various utilities and government bodies. Moreover, the 30% federal tax credit is accessible to nearly everyone.
Although cash payments offer the greatest savings, numerous financing options for solar panels now exist that are also beneficial. Many installers work with financing partners and will include this information in your initial quotes.
Yes, in Martin County, KY, the average time for 5 kWsolar panel systems to pay for themselves is 0 years, leading to electricity savings of $40,992 over a 20-year period.
Savings from 
Environmental Impacts 
