Solar Panels Cost 0k-0k in Meade County, KY | November, 2024

Solar Panels Cost $0k-$0k in Meade County, KY | November, 2024

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How much do solar panels cost in Meade County, KY in 2024?

Having solar panels in Meade County, KY is $0/W in the month of November, 2024.

In accordance with the cost, we are able to come to the conclusion that for every 1000 watts (1 kW) your solar system can produce, you will have to spend, on average, $0 for its installation. In Meade County, a 5 kW solar panel install will require you to pay, on average, $0 after the 30% federal income tax credit. A 5kW system may not be enough to fulfill your energy requirements.

To the left, you can choose your county to find the average roof size and the maximum capacity of solar panel systems for houses in your area. Below is a full breakdown of the 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.
Meade County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Meade 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.
Meade County: $34,562US Average: $16,169

Solar Potential in Meade County

Estimated system size and solar electricity production per median viable roof in
Meade County.

Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.

Electricity Costs in Meade County, KY & What that Means for Your Solar Panel Pricing

The typical energy consumer in Meade County has a monthly electric bill of 144.01 and uses 1,049 kWh on average. Flats and smaller homes with lower energy consumption are included in this statistic.

Meade County, KY's electricity rate is on average 13.73¢ per kWh in November 2024.

The price of a a 9 kW solar installation is approximately $0 before any incentives, but the federal tax credit provides a 30% credit, lowering your final cost to $0.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Meade County

Shown below and to the left, you will see a detailed price breakdown for multiple solar panel system sizes installed in Meade County. The investment for a larger solar panel setup is greater, but it also offers more significant electricity savings and increased income tax credits.

Using the solar panel cost calculator positioned below and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $144.01 in Meade County. To get results more customized, modify the $144.01 to align with your typical electricity bill.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,021 a year
Est. Price
$0
Savings from a 5kWthis system
  • Est. yearly production 7,293 kWh
  • Est. monthly savings $85
  • Full payback in 0 years
Environmental Impacts
  • Reduces CO2 emissions by 7.55 tons a year
  • Equivalent to planting 347 trees a year
  • Equivalent to driving 18,677 mi less a year
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 9.05 tons a year
  • Equivalent to planting 416 trees a year
  • Equivalent to driving 22,412 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 10.56 tons a year
  • Equivalent to planting 485 trees a year
  • Equivalent to driving 26,148 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 12.07 tons a year
  • Equivalent to planting 554 trees a year
  • Equivalent to driving 29,883 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 $144
  • 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

Meade County Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can potentially cover between 80% and 100% of the installation costs for photovoltaic or wind turbines for rural small businesses and farmlands. Curious if you are eligible? Our REAP Grant eligibility tool can help you verify.

Due to the 30% federal income tax credit, residential solar installations are affordable for most people, rendering solar power a practical investment throughout various states. In addition to the federal incentives, state and local programs also seek to boost solar energy uptake.

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

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 Meade County, KY?

For those in Meade County looking to stay in their homes past the payback period of their solar system, solar panels make good sense. If you install a 5 kW solar system in Meade County, KY, you might save $34,562.4 over 20 years on average, with a break even point at roughly 0 years.

The cost of not having solar panels in Meade County, KY

Without solar panels or another energy backup source, you miss out on the savings highlighted earlier and are entirely dependent on your electric utility for power. Complete reliance on your utility provider is not always ideal, as recent examples in the news have shown.

On average, customers in Meade County have experienced 0.8 utility outages per year in recent times. Each outage lasts an average of 84.25 minutes. In the case of major events such as hurricanes, wildlife damage, or grid management errors, this period can increase substantially.

View the component below to see the number of current electricity customers without power in Meade County.

A solar panel system with (or without) a backup battery could relieve the stress of future outages you experience.

Power Outages

Currently, 0 customers are being tracked in Meade County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Meade County, KY?

Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is larger. For most homeowners, installing a system that can make enough power to fully offset their entire electric bill is advantageous, providing significant savings.

Make & Model - There are a variety of makes and models of solar panels. Your installer’s potential brand preferences make it essential to choose a recommended company. The selection of better makes and models can substantially improve the long-term experience for buyers.

Solar Panel Type - It's clear why monocrystalline panels are now the preferred option in the industry. They are pricier but generate more energy. Many professionals in solar installation use panels made from this material.

Your Property - Each home and property is unique in its own way. Trees, uneven land, or additional hurdles may complicate the installation. Most solar installers today are able to utilize satellite imagery to assess your home and factor in these elements in the initial cost estimate.

Labor Rates - The pay that various companies offer their employees differ, and these costs are borne by the consumers. Businesses frequently get higher reviews for their work and customer service when they pay better wages.

Permitting & Interconnection - The local permitting and utility interconnection fees, which vary by region, will affect your final installation price. Quality local installers will include these figures in your first estimates to guarantee transparency.

See what solar panels cost in other Meade County cities

    Go Solar for less than your cell phone bill.

    Who are the best solar installers in Meade County?

    YellowLite

    Cleveland, OH(216) 333-1364

    Services

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

    Academy Energy Group

    Newburgh, IN(812) 518-2150

    Services

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

    Core Development Group

    (201) 825-2195

    Services

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

    Solgen Power

    Pasco, WA(855) 709-1181

    Services

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

    Solar Alliance Southeast

    Knoxville, TN(865) 309-4674

    Services

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

    Appalachian Renewable Power Systems

    Stewart CDP, OH(740) 498-0498

    Services

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

    Power Home Solar

    Mooresville, NC(704) 870-3670

    Services

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

    Dividend Finance

    Cincinnati, OH(415) 805-7000

    Services

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

    SunPower Corporation

    San Jose, CA(800) 786-7693

    Services

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

    Silver Sun Solar

    Deltona, FL(407) 832-42452

    Services

    • Installation of solar arrays.
    • Installation of batteries for energy storage.
    • 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

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

    Entegrity

    Little Rock, AR(800) 700-1414

    Services

    • Installation of solar arrays.
    • Reparation of solar arrays.
    • Installation of batteries for energy storage.
    • Auditing of energy requirements for independent energy generation.
    • Monitoring of independent energy generation.
    • Expertise in consulting on advantageous financing for solar.
    • Consulting on all things solar related.

    City Electric Supply

    Dallas, TX(866) 634-9853

    Services

    • Installation of solar arrays.
    • Auditing of energy requirements for independent energy generation.
    • Monitoring of independent energy generation.
    • Expertise in consulting on advantageous financing for solar.

    PowerHome Solar

    Mooresville, NC(704) 870-3670

    Services

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

    Empire Solar Group

    Salt Lake City, UT(800) 467-4562

    Services

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

    Icon Solar

    Milford, OH(513) 396-7777

    Services

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

    Meade County, KY Solar Panel Cost FAQs

    • As of November, 2024, the average per-watt cost for solar panels in Meade County, KY is $0/W. For a 5 kW solar panel system, the total cost in Meade County, KY after federal tax credits is around $0.

    • As of now, there are 6 rebates and incentives offered by various utilities and government entities in Kentucky. In addition, the 30% federal income tax credit is available to almost everyone.

    • Even though paying cash offers the most savings, there are now multiple financing options for solar panels that also make financial sense. Installers will often provide details on financing partners in the quotes they provide initially.

    • Yes, the average 5 kW solar panel payback time in Meade County, KY is 0 years, with expected savings of $34,562.4 on electricity over 20 years.
    Alex Zdanov
    Last Reviewed By: Alex Zdanov
    Published: 2024-11-04