Solar Panels Cost $0k-$0k in Owen County, KY | November, 2024
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How much do solar panels cost in Owen County, KY in 2024?
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During November, 2024, the current cost for a solar panel installation in Owen County, KY was $0/W.
You should expect the cost to be $0, on average, for every 1 kW (or 1000 watts) of solar energy your panels can generate. You are able to come to this conclusion based on this rate price cost per watt above. When you deduct the 30% federal tax credit, a 5 kW solar panel system in Owen County will cost you $0. Keep in mind that you may need a higher capacity system to adequately cover your energy consumption.
On the left side, choose your county to find the typical roof size and the maximum capacity of solar panels for homes in your area. Below, you can see an analysis 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.
Owen County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Owen 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.
Owen County: $35,374US Average: $16,169
Solar Potential in Owen County
Estimated system size and solar electricity production per median viable roof in Owen County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Owen County, KY & What that Means for Your Solar Panel Pricing
On average, Owen County residents use 1,164 kWh each month, and the electric bill is 147.39. Compact homes, such as micro-apartments, are also included in the statistics noted in the previous sentence.
In November 2024, the average electricity rate in Owen County, KY is 12.66¢ per kWh.
Initially, a 10 kW solar panel installation costs 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 Owen County
On the left and below, you'll find the pricing details for multiple sizes of the solar panel systems set up in Owen County. A larger solar array will expectedly cost more, but it will also offer greater electricity savings and more substantial income tax credits.
The cost and benefit breakdown for solar panels, presented in the calculator down and to the right, is based on an average electric bill of $147.39 in Owen County. Replace the $147.39 with your typical electricity bill to get customized 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 $1,138 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 8.24 tons a year
Equivalent to planting 378 trees a year
Equivalent to driving 20,387 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 9.61 tons a year
Equivalent to planting 441 trees a year
Equivalent to driving 23,784 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 10.98 tons a year
Equivalent to planting 504 trees a year
Equivalent to driving 27,182 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 $142
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.35 tons a year
Equivalent to planting 567 trees a year
Equivalent to driving 30,580 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,896 a year
Est. Price
$0
Savings from a 10kWthis system
Est. yearly production 14,586 kWh
Est. monthly savings $147
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
Owen County Solar Panel Installation Incentives & Rebates | 2024
For rural agricultural enterprises and small businesses, the REAP Grant might currently cover between 80% and 100% of the expenses for installing photovoltaic or wind energy systems. Believe you might be eligible? Use our REAP Grant eligibility tool to confirm your eligibility.
For those considering residential solar, the 30% federal income tax credit is available to nearly everyone, making solar power a good investment in numerous parts of the country. State and local efforts are also in place to further drive the growth of solar energy use.
A number of utilities and governmental agencies in Kentucky provide 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 Owen County, KY?
If you plan to live in your home beyond the time it takes to recoup your solar investment, installing solar panels in Owen County is an good decision. Having a 5 kW solar system in Owen County, KY can potentially save you around $35,373.6 over a span of 20 years, with an average break even point of 0 years.
The cost of not having solar panels in Owen County, KY
Forgoing solar panels or an alternative backup energy source results in you'll miss out on the savings highlighted above and be fully dependent on your electric utility for power. Recent news stories have shown that complete dependence on your utility is not always ideal.
Customers in Owen County have encountered around 0.99 outages per year on average. Outages generally last for an average of 92.76 minutes. During major occurrences like earthquakes, construction accidents, or grid management errors, these times can extend significantly.
Take a look at the info below to see the number of current electricity customers without power in Owen County.
A solar panel system, with or without a backup battery, could help mitigate the effects of future outages you might experience.
Power Outages
Currently, 0 customers are being tracked in Owen County.
What impacts the cost of solar panels in Owen County, KY?
Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt decreases as the system size increases. Individuals often find that installing a solar system that can replace their electric bill is highly beneficial. This strategy results in greater savings.
Make & Model - Similar to other industries, the solar energy sector features a range of solar panel and mounting equipment brands and designs. Considering the particular system preferences an contractor might have, selecting a highly rated company is critical. Superior quality makes and models generally lead to a more positive long-term experience for buyers.
Solar Panel Type - There are valid reasons why monocrystalline panels are now the industry standard. Although the cost is higher, they yield more energy. Many installers use these kinds of panels.
Your Property - No two homes or properties are the same. Elements such as trees, irregular terrain, or other challenges might complicate the installation process. Most solar installers today leverage satellite imagery to evaluate your home and include these factors into the initial cost estimate.
Labor Rates - The varied employee wages paid by companies cause costs that consumers eventually bearing . It is frequently observed that businesses with higher wages receive superior reviews for their services and customer service.
Permitting & Interconnection - Your final installation cost will be influenced by local permitting and utility interconnection fees, which change by area. Good installers will factor these costs into your first quotes to prevent unexpected expenses.
See what solar panels cost in other Owen County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Owen County, KY Solar Panel Cost FAQs
The typical cost per watt for solar panels in Owen County, KY as of November, 2024 is $0/W. The installation of a 5 kW solar panel system in Owen County, KY will cost about $0 after federal tax credits.
Homeowners in Kentucky can take advantage of 6 different rebates and incentives from a variety of utility companies and government agencies. Additionally, almost everyone is entitled to the 30% federal income tax credit.
Even though paying cash provides the most savings, there are now several financing options for solar panels that also are cost-effective. Installers typically partner with financing companies and will include this information into your initial quotes.
Yes, on average, the return on investment for 5 kW solar panel systems in Owen County, KY is achieved in 0 years, with electricity savings amounting to $35,373.6 over 20 years.
Savings from 
Environmental Impacts 
