Solar Panels Cost $0k-$0k in Simpson County, KY | November, 2024
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How much do solar panels cost in Simpson County, KY in 2024?
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Solar panel installations in Simpson County, KY in the month of November, 2024 have an average cost of $0 per watt.
In accordance with this price, you can come to the conclusion that for every 1000 watts (1 kW) your system can produce you will have to invest $0 to have your solar system installed. After receiving the 30% federal tax credit, you can expect to pay about $0 for a 5 kW panel install in Simpson County. It should be noted that a larger system may be essential to satisfy your energy requirements.
On the left-hand side, you can select your county to see the typical roof size and the maximum capacity for solar panels in residences in your area. Below is a breakdown 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.
Simpson County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Simpson 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.
Simpson County: $35,873US Average: $16,169
Solar Potential in Simpson County
Estimated system size and solar electricity production per median viable roof in Simpson County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Simpson County, KY & What that Means for Your Solar Panel Pricing
On average, Simpson County energy consumers have a monthly electric bill of 149.47 and use 1,262 kWh. Please note that this statistic accounts for apartments and smaller residences, which usually use reduced energy consumption.
For November 2024, Simpson County, KY's mean electricity rate is 11.85¢ per kWh.
The price of aan 11 kW solar setup comes to $0 initially, but with the 30% federal tax credit, the total cost drops to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Simpson County
To the left side and below, you can find the pricing details for different sizes of the solar panel systems installed in Simpson County. With bigger solar systems, the price rises, but so do the electricity savings and the income tax credits you can get.
The calculator below and to the right gives a detailed summary of solar panel costs and benefits, based on an average electric bill of $149.47 in Simpson County. More tailored results can be gotten by adjusting the $149.47 to your typical bill amount.
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 8.75 tons a year
Equivalent to planting 402 trees a year
Equivalent to driving 21,651 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 10 tons a year
Equivalent to planting 459 trees a year
Equivalent to driving 24,744 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 11.25 tons a year
Equivalent to planting 517 trees a year
Equivalent to driving 27,837 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 12.5 tons a year
Equivalent to planting 574 trees a year
Equivalent to driving 30,930 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 $149
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.76 tons a year
Equivalent to planting 586 trees a year
Equivalent to driving 31,595 mi less a year
Simpson 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 farms. Curious if you are eligible? Our REAP Grant eligibility tool can help you find out.
For those looking into residential solar, the 30% federal income tax credit is available to almost all homeowners, which makes solar a sensible option in various states. Apart from the federal incentives, state and local programs also aim to boost solar energy uptake.
In Kentucky, different utilities and government bodies offer 6 solar rebate and incentive initiatives.
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 Simpson County, KY?
If you plan to reside in your home beyond the payback period of your solar system, solar panels are an clear choice in Simpson County. A 5 kW system in Simpson County, KY will enable you to save you personally, on average, $35,872.8 over a 20 period and the average break even point is 0 years.
The cost of not having solar panels in Simpson County, KY
Without solar panels or another energy backup source, you miss out on the savings discussed earlier and are completely dependent on your electric utility for power. As illustrated in numerous recent news reports, total dependence on your utility is not always ideal.
Each year, the utilities in Simpson County have recorded about 1.6 outages per customer. On average, the length of an outage is 161.9 minutes. Major events like construction accidents, grid management errors or landslides can cause these durations to rise considerably.
See the info below to see the number of current electricity customers without power in Simpson 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 Simpson County.
What impacts the cost of solar panels in Simpson County, KY?
Your Energy Needs - Larger solar panel systems have a higher initial cost, yet the average cost per watt falls as the system size expands. It is often beneficial for homeowners to install a solar system that can generate enough electricity to completely replace their electric bill, which results in significant savings.
Make & Model - There are a range of makes and models of solar panels. Considering the brand preferences that your installer may have, it's essential to choose a reputable contractor. Selecting better quality materials usually provides a more positive long-term experience for the buyer.
Solar Panel Type - For several valid reasons, monocrystalline panels are now the industry standard. Despite the higher price tag, these panels provide greater energy output. Many installation experts use panels constructed from this material.
Your Property - Factors such as trees, uneven landscapes, or additional hurdles may cause the installation to be more difficult. These days, the majority of solar installers can leverage satellite imagery to assess your home and factor in these aspects into the first cost estimate.
Labor Rates - Companies compensate their employees in varying amounts, and these costs are passed down to consumers. Businesses paying more to their employees often receive higher reviews for their services and customer service.
Permitting & Interconnection - Depending on the area, local permitting and utility interconnection fees will impact the cost of your installation. Experienced local installers will include these figures in your initial estimates to guarantee transparency.
See what solar panels cost in other Simpson County cities
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Simpson County, KY Solar Panel Cost FAQs
In November, 2024, the average cost of solar panels per watt in Simpson County, KY is $0/W. After the federal tax credit, the estimated cost for a 5 kW solar panel system in Simpson County, KY is roughly $0.
Currently, Kentucky residents can benefit from 6 rebates and incentives available through various utilities and government bodies. Also, nearly everyone can take advantage of the 30% federal tax credit.
Paying cash will lead to the most savings, but currently there are multiple options for financing solar panels that make great money sense as well. Installers frequently offer financing options and will include them in your initial quotes.
Yes, the payback period for 5 kW solar energy systems in Simpson County, KY averages 0 years, with electricity savings of about $35,872.8 over 20 years.
Savings from 
Environmental Impacts 
