Solar Panels Cost $9.7k-$19k in Oldham County, KY | November, 2024
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How much do solar panels cost in Oldham County, KY in 2024?
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In Oldham County, KY in November, 2024, the average price per watt for solar is estimated at $3.48/W
Applying the price, you are able to come to the conclusion that for every 1000 watts (1 kW) your solar system can generate, you will have to spend, on average, $3,480 to have it installed. In Oldham County, the cost of a 5 kW solar installation is generally $12,180, after a 30% federal tax credit. To fulfill your energy needs, you may need a larger system.
By selecting your county on the left, you can find the average roof size and the average maximum capacity for residential solar panel systems in your area. Find below a detailed summary of the {price|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.
Oldham County: $12,180US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Oldham County: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Oldham County: $10,514US Average: $16,169
Solar Potential in Oldham County
Estimated system size and solar electricity production per median viable roof in Oldham County.
Roof size 840sq. ft.
Capacity 11.75kW DC
Electricity 13.9kkWh AC per yr.
Electricity Costs in Oldham County, KY & What that Means for Your Solar Panel Pricing
Energy consumers in Oldham County generally use 948 kWh per month, with an average monthly bill of 116.31. Small residences, including duplexes and condos, are also encompassed in the numbers mentioned in the previous sentence.
As of November 2024, the average rate for electricity per kWh in Oldham County, KY amounts to 12.27¢.
At first, an 8 kW solar installation will cost you $27,840, but after a 30% tax credit, the final price is $19,488.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Oldham County
Presented on the left and below is the price breakdown for various sizes of the solar panel systems installed in Oldham County. The investment for a larger solar panel setup is greater, but it also provides greater electricity savings and higher income tax credits.
The solar panel cost calculator below and to the right analyzes costs and benefits, using an average $116.31 electric bill in Oldham County To get customized results, simply adjust the $116.31to match your typical electricity bill amount.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $700 a year
Est. Price
$9,744
Savings from a 4kWthis system
Est. yearly production 5,835 kWh
Est. monthly savings $58
Full payback in 7 years
Environmental Impacts
Reduces CO2 emissions by 6.38 tons a year
Equivalent to planting 293 trees a year
Equivalent to driving 15,795 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $875 a year
Est. Price
$12,180
Savings from a 5kWthis system
Est. yearly production 7,293 kWh
Est. monthly savings $73
Full payback in 9 years
Environmental Impacts
Reduces CO2 emissions by 7.98 tons a year
Equivalent to planting 366 trees a year
Equivalent to driving 19,743 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,050 a year
Est. Price
$14,616
Savings from a 6kWthis system
Est. yearly production 8,752 kWh
Est. monthly savings $88
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 9.57 tons a year
Equivalent to planting 440 trees a year
Equivalent to driving 23,692 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,225 a year
Est. Price
$17,052
Savings from a 7kWthis system
Est. yearly production 10,211 kWh
Est. monthly savings $102
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 11.17 tons a year
Equivalent to planting 513 trees a year
Equivalent to driving 27,641 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,400 a year
Est. Price
$19,488
Savings from a 8kWthis system
Est. yearly production 11,669 kWh
Est. monthly savings $116
Full payback in 14 years
Environmental Impacts
Reduces CO2 emissions by 12.69 tons a year
Equivalent to planting 583 trees a year
Equivalent to driving 31,402 mi less a year
Oldham 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 photovoltaic or wind energy systems. If you think you might qualify, we suggest trying our REAP Grant eligibility tool to confirm.
Nearly all residents are eligible for the 30% federal income tax credit for residential solar, making it a practical option in numerous states across the country. Furthermore, many regional and state programs are set up to get more people to adopt solar power.
Different utilities and governmental organizations 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 Oldham County, KY?
Homeowners in Oldham County who expect to live in their residence beyond the payback period of their solar system will find solar panels an clear choice. In Oldham County, KY, the installation of a 5 kW solar system can save you an average of $15,734.4 over 20 years, with an average break even point of 9 years.
The cost of not having solar panels in Oldham County, KY
Forgoing solar panels or an alternative backup energy source results in you'll miss out on the savings mentioned before and be fully dependent on your electric utility for power. Complete dependence on your utility company isn't always the best condition, as recent media examples have revealed.
On a yearly basis, the average number of outages per customer in Oldham County has been 0.92. On average, each outage lasts for 109.02 minutes. Major events like planned maintenance, overloaded power grids or lightning strikes can considerably extend these durations.
View the info below to see the number of current electricity customers without power in Oldham County.
Whether or not a backup battery is included, a solar panel system could reduce the impact of future power outages you might experience.
Power Outages
Currently, 0 customers are being tracked in Oldham County.
What impacts the cost of solar panels in Oldham County, KY?
Your Energy Needs - Despite the greater initial expense, the cost per watt declines when using larger solar panel systems. Many consumers realize it's a great idea to set up a solar system that can produce enough power to fully cover their electric bill, because it helps them save more money.
Make & Model - Just like other products, solar panels and mounting equipment are offered in a range of makes and models. The potential brand preferences of your installer mean that it is it is even more vital to choose a reputable company. Higher grade materials typically result in an better long-term experience for the buyer.
Solar Panel Type - Monocrystalline panels have become the industry standard, and it's not hard to see why. They come with a higher price but are better at generating energy. The majority of solar panel installers use panels made of this type of material.
Your Property - Each property and home has its own unique features. Trees, irregular terrain, or additional challenges may add to the difficulty of the installation. Using satellite imagery, solar installers can today assess your home and include these elements into the first cost estimate.
Labor Rates - Companies pay varying pay rates to their employees, which are then passed on to the prices consumers pay. Higher wages frequently lead to businesses getting better reviews for their services and customer service.
Permitting & Interconnection - Local permitting and utility interconnection fees, which change by area, will impact your installation cost. Reputable local installers will include these figures in your first estimates to ensure transparency.
See what solar panels cost in other Oldham County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Oldham County, KY Solar Panel Cost FAQs
As of November, 2024, the average cost for solar panels in Oldham County, KY is $3.48/W. With the federal tax credit, the cost of a 5 kW solar panel system in Oldham County, KY drops to roughly $12,180.
Right now, Kentucky has 6 rebates and incentives available through a variety of utility companies and government entities. Also, nearly everyone can take advantage of the 30% federal tax credit.
Although cash payments provide the greatest savings, several financing options for solar panels now exist that are also cost-effective. Financing options are often provided by installers and may be included in your initial quotes.
Yes, in Oldham County, KY, 5 kW solar panel systems usually pay off in 9 years, providing an average electricity cost savings of $15,734.4 over a 20-year period.
Savings from 
Environmental Impacts 
