Solar Panels Cost $0k-$0k in Monroe County, KY | November, 2024
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How much do solar panels cost in Monroe County, KY in 2024?
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You'll pay $0/W in Monroe County, KY in the month of November, 2024 to get solar installed.
Said another way, for every 1000 watts (or 1 Kw) your system can generate you will spend $0 to get your system installed in . When you subtract the 30% federal tax credit, you will spend around $0 for a 5 kW solar installation in Monroe County. However, it’s important to note that a more powerful system may be necessary to fulfill your energy requirements.
Use the menu on the left to pick your county and determine the average roof size and the average maximum capacity for residential solar on residences in your area. Below, you can see an overview of 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.
Monroe County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Monroe 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.
Monroe County: $36,794US Average: $16,169
Solar Potential in Monroe County
Estimated system size and solar electricity production per median viable roof in Monroe County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Monroe County, KY & What that Means for Your Solar Panel Pricing
The standard kWh usage for a Monroe County resident is 1,237 monthly, with an average electric bill of 153.31. Please note that the energy consumption for apartments and other smaller living spaces is encompassed in this figure.
The average electricity rate in Monroe County, KY in November 2024 is 12.4¢ per kWh.
At this time, an 11 kW solar panel installation will cost you roughly $0at first, but thanks to the 30% federal tax credit, you get a 30% reimbursement, bringing the cost down to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Monroe County
On the left side below, the pricing details for various sizes of the solar panel systems installed in Monroe County can be seen. While a bigger solar installation comes with a larger expense, it also provides higher electricity savings and larger income tax credits.
Using the solar panel cost calculator located to the right and below, you can view a detailed cost and benefit analysis based on an average electric bill of $153.31 in Monroe County. If you seek more personalized results, just adjust the $153.31 to whichever your usual electricity bill is.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,225 a year
Est. Price
$0
Savings from a 7kWthis system
Est. yearly production 10,211 kWh
Est. monthly savings $102
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 8.52 tons a year
Equivalent to planting 391 trees a year
Equivalent to driving 21,094 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,400 a year
Est. Price
$0
Savings from a 8kWthis system
Est. yearly production 11,669 kWh
Est. monthly savings $117
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 9.74 tons a year
Equivalent to planting 447 trees a year
Equivalent to driving 24,107 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,575 a year
Est. Price
$0
Savings from a 9kWthis system
Est. yearly production 13,128 kWh
Est. monthly savings $131
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 10.96 tons a year
Equivalent to planting 503 trees a year
Equivalent to driving 27,121 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,750 a year
Est. Price
$0
Savings from a 10kWthis system
Est. yearly production 14,586 kWh
Est. monthly savings $146
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.17 tons a year
Equivalent to planting 559 trees a year
Equivalent to driving 30,134 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $1,925 a year
Est. Price
$0
Savings from a 11kWthis system
Est. yearly production 16,045 kWh
Est. monthly savings $153
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
Monroe County Solar Panel Installation Incentives & Rebates | 2024
Eligible rural small businesses and farms might have their solar or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. Not sure if you qualify? Use our REAP Grant eligibility tool to verify.
For those considering residential solar options, a 30% federal income tax credit is broadly available, boosting the appeal and practicality of solar energy in numerous areas in the nation. Together with federal efforts, state and local programs help to support the use of solar power.
Several utilities and government organizations in Kentucky currently offer 6 solar rebates and incentives.
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 Monroe County, KY?
If your intention is to stay in your home beyond the solar payback period, choosing solar panels is a smart option in Monroe County. A 5 kW system in Monroe County, KY will help you save you, on average, $36,794.4 over a 20 period and the average break even point is 0 years.
The cost of not having solar panels in Monroe County, KY
In addition to missing out on the previously mentioned savings, not having solar panels or a separate backup energy source makes you fully reliant on your electric utility for electricity. As shown by recent news, total dependence on your utility isn't always ideal.
On a yearly basis, the average number of outages per customer in Monroe County has been 3.21. On average, each outage lasts for 339.24 minutes. Major events like grid management errors, winter storms or wildlife damage can considerably extend these durations.
See the graphic below to see the number of current electricity customers without power in Monroe County.
A solar panel system, with or without a backup battery or not, could help lessen the impact of future power outages you might encounter.
Power Outages
Currently, 0 customers are being tracked in Monroe County.
What impacts the cost of solar panels in Monroe County, KY?
Your Energy Needs - While the upfront cost is larger, the price per watt decreases with larger solar panel systems. Most consumers see the benefit in setting up a solar setup that can generate enough power to cover their entire electric bill, ensuring significant savings.
Make & Model - There are numerous brands and models of solar panels. Selecting an installer with certain brand preferences means it is even more important essential to go with a highly rated contractor. Selecting better quality equipment usually yields a more favorable long-term experience for the buyer.
Solar Panel Type - It's understandable that monocrystalline panels are now the standard in the industry. These panels have a higher cost but generate more energy. Most installers in the industry use panels constructed of this material.
Your Property - No two homes or properties are the same. Elements like trees, uneven landscapes, or additional considerations might complicate the installation process. Solar installers today have the ability to use satellite images to evaluate your home and incorporate these factors in the preliminary cost estimate.
Labor Rates - Companies provide varying pay rates to their employees, which are then reflected in the prices consumers pay. Often, businesses paying more in wages additionally enjoy higher ratings for their services and customer service.
Permitting & Interconnection - Your final installation cost will be affected by local permitting and utility interconnection fees, which change by area. Quality local installers will include these numbers into your first quotes to prevent any surprises.
See what solar panels cost in other Monroe County cities
Go Solar for less than your cell phone bill.
Who are the best solar installers in Monroe County?
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Monroe County, KY Solar Panel Cost FAQs
The average solar panel cost in Monroe County, KY as of November, 2024 is estimated at $0/W. With the federal tax credit, the cost of a 5 kW solar panel system in Monroe County, KY drops to roughly $0.
Currently, Kentucky residents can benefit from 6 rebates and incentives available through various utilities and government bodies. Additionally, the vast majority qualify for the 30% federal tax credit.
Paying cash offers the most savings, yet there are many financing options available today for solar panels that are also beneficial. Initial quotes from installers will frequently contain information about available financing options.
Yes, the typical payback time for 5 kW solar panel systems in Monroe County, KY is 0 years, and the expected electricity cost savings over 20 years is $36,794.4.
Savings from 
Environmental Impacts 
