Solar Panels Cost $0k-$0k in McCreary County, KY | November, 2024
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How much do solar panels cost in McCreary County, KY in 2024?
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You'll spend around $0/W in November, 2024 in McCreary County, KY to get a solar system.
So, solar panels will cost you approximately, on average, $0 per 1000 watts (1 kW) of generation capacounty. In McCreary County, the price of a 5 kW solar system is typically $0, after the 30% federal tax credit. Please keep in mind that a higher capacity system might be necessary to adequately cover your energy needs.
On the left, select your area to find the typical roof size and the maximum production capacity for solar panels on homes in your county. Displayed below is an overview 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.
McCreary County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
McCreary 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.
McCreary County: $32,081US Average: $16,169
Solar Potential in McCreary County
Estimated system size and solar electricity production per median viable roof in McCreary County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in McCreary County, KY & What that Means for Your Solar Panel Pricing
For energy consumers in McCreary County, the typical electric bill amounts to 133.67 per month, with an average usage of 1,033 kWh. {These figures include apartments and other smaller homes, which typically have reduced energy consumption.
For November 2024, the mean electricity rate in McCreary County, KY is 12.94¢ per kWh.
Upfront, a 9 kW solar panel system will cost around $0, after a 30% federal tax credit, the final cost is $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in McCreary County
Presented below and to the left, is a detailed cost analysis for multiple solar panel system sizes installed in McCreary County. Even though a bigger solar installation carries a greater cost, it also provides increased electricity savings and larger income tax credits.
The solar panel calculator, positioned to the right and below, provides a detailed cost and benefit analysis based on a typical $133.67 electric bill for McCreary County. Easily replace the $133.67 with your typical electricity bill amount to see more accurate results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $948 a year
Est. Price
$0
Savings from a 5kWthis system
Est. yearly production 7,293 kWh
Est. monthly savings $79
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 7.53 tons a year
Equivalent to planting 346 trees a year
Equivalent to driving 18,637 mi less a year
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 9.04 tons a year
Equivalent to planting 415 trees a year
Equivalent to driving 22,364 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 10.54 tons a year
Equivalent to planting 484 trees a year
Equivalent to driving 26,092 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 12.05 tons a year
Equivalent to planting 553 trees a year
Equivalent to driving 29,819 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 $134
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
McCreary County Solar Panel Installation Incentives & Rebates | 2024
Between 80% and 100% of your solar energy or wind turbine installation costs may be covered by the REAP Grant if you own a rural small business or farm. Wondering if you fit this category? Check your eligibility with our REAP Grant eligibility tool.
When it comes to residential solar, the majority of people qualify for the 30% federal income tax credit, making solar a practical option across most regions of the nation. A range of state and local incentives are in place to promote the use of solar energy.
There are 6 solar rebate and incentive programs currently available in Kentucky by various utilities and government agencies.
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 McCreary County, KY?
For those intending to stay in their home past the solar system's payback period, solar panels are a good investment in McCreary County. In McCreary County, KY, the installation of a 5 kW solar system can save you an average of $32,080.8 over 20 years, with an average break even point of 0 years.
The cost of not having solar panels in McCreary County, KY
Opting not to install solar panels or a separate backup energy solution results in you missing out on the savings mentioned earlier and leaves you fully reliant on your electric utility for electricity. Recent news has demonstrated that complete dependence on your utility company is not always ideal.
There are about 1.53 outages per customer annually in McCreary County. Each outage, on average, lasts for 192.75 minutes. In the case of major events like equipment failure, high winds or construction accidents, this period can rise substantially.
See the info below to see the number of current electricity customers without power in McCreary County.
A solar energy system could help mitigate the effects of future outages, whether or not it has a backup battery.
Power Outages
Currently, 0 customers are being tracked in McCreary County.
What impacts the cost of solar panels in McCreary County, KY?
Your Energy Needs - The cost per watt is lower with larger solar panel systems, even though the initial cost is higher. Consumers often realize that setting up a solar system to replace their electric bill is a beneficial decision, resulting in the most savings.
Make & Model - There are a variety of makes and models of solar panels and mounting equipment. The potential system preferences of your chosen contractor make it crucial to choose a reputable company. Buyers who choose high-quality materials generally enjoy a better long-term experience.
Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They are pricier but generate more energy. Many professionals in solar installation use panels crafted from this material.
Your Property - Uneven ground, trees, or other obstructions can make the installation process more challenging. Nowadays, the many solar installers can evaluate your home with satellite images and incorporate these factors in the first cost estimate.
Labor Rates - The different wages that companies give their employees lead to costs that are ultimately borne by consumers. Reviews for work and customer service are often higher for companies that pay higher wages.
Permitting & Interconnection - Regional differences in permitting and utility interconnection fees will influence your installation cost. Good installers will factor these costs into your initial quotes to prevent unexpected expenses.
See what solar panels cost in other McCreary County cities
Go Solar for less than your cell phone bill.
Who are the best solar installers in McCreary County?
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
McCreary County, KY Solar Panel Cost FAQs
The average solar panel cost in McCreary County, KY as of November, 2024 is estimated at $0/W. After the federal tax credit, the estimated cost for a 5 kW solar panel system in McCreary County, KY is roughly $0.
Right now, Kentucky has 6 rebates and incentives available through a variety of utility companies and government entities. In addition, nearly all people are eligible for the 30%federal tax credit.
Choosing to pay cash provides the most savings, but today there are many financing options for solar panels that are also cost-effective. Initial quotes from installers will frequently include information about available financing options.
Yes, homeowners in McCreary County, KY can expect 5 kW solar panels to pay off in 0 years, with an estimated $32,080.8 in electricity savings during a 20-year span.
Savings from 
Environmental Impacts 
