Solar Panels Cost $0k-$0k in Spencer County, KY | December, 2024
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How much do solar panels cost in Spencer County, KY in 2024?
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Currently, in Spencer County, KY in the month of December, 2024, the price per each watt for solar systems is $0/W.
Stemming from the price per watt, you can conclude that for every 1 kW (1000 watts) of solar generation capacounty will require an investment of $0 for installation. After applying the 30% federal tax credit, a 5 kW system in Spencer County generally costs $0. A 5kW system may not be sufficient to satisfy your energy requirements.
Use the left-hand menu to select your area and view the typical roof size and the maximum capacity for residential solar on homes in your county. You can review the costs, payback period, and 20-year average savings for a 5 kW system in your county below.
Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Spencer County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Spencer 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.
Spencer County: $34,942US Average: $16,152
Solar Potential in Spencer County
Estimated system size and solar electricity production per median viable roof in Spencer County.
Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.
Electricity Costs in Spencer County, KY & What that Means for Your Solar Panel Pricing
Spencer County energy consumers usually use 1,279 kWh monthly, with an average monthly bill of 145.59. It is important to note that this figure also includes data from smaller residential units, including apartments.
For December 2024, Spencer County, KY's mean electricity rate is 11.39¢ per kWh.
The expense for a an 11 kW setup is approximately $0 before any incentives, but the federal tax credit offers a 30% credit, bringing the price down to $0.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Spencer County
On the left side below, the pricing details for multiple sizes of solar panel systems installed in Spencer County can be seen. With more extensive solar systems, the price increases, but so do the electricity savings and the income tax credits you can get.
The solar panel cost calculator to the right and below breaks down costs and benefits, considering an average $145.59 electric bill in Spencer County Modify the $145.59 to match your usual electricity bill payment for more tailored results.
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 $1,123 a year
Est. Price
$0
Savings from a 7kWthis system
Est. yearly production 10,211 kWh
Est. monthly savings $94
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 8.15 tons a year
Equivalent to planting 374 trees a year
Equivalent to driving 20,178 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,284 a year
Est. Price
$0
Savings from a 8kWthis system
Est. yearly production 11,669 kWh
Est. monthly savings $107
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 9.32 tons a year
Equivalent to planting 428 trees a year
Equivalent to driving 23,060 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,444 a year
Est. Price
$0
Savings from a 9kWthis system
Est. yearly production 13,128 kWh
Est. monthly savings $120
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 10.48 tons a year
Equivalent to planting 481 trees a year
Equivalent to driving 25,943 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,605 a year
Est. Price
$0
Savings from a 10kWthis system
Est. yearly production 14,586 kWh
Est. monthly savings $134
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 11.65 tons a year
Equivalent to planting 535 trees a year
Equivalent to driving 28,825 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $1,765 a year
Est. Price
$0
Savings from a 11kWthis system
Est. yearly production 16,045 kWh
Est. monthly savings $146
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 12.72 tons a year
Equivalent to planting 584 trees a year
Equivalent to driving 31,475 mi less a year
Spencer County Solar Panel Installation Incentives & Rebates | 2024
Rural small business and farm owners might benefit from the REAP Grant, which could cover 80% to 100% of their solar energy or wind energy installation expenses. To see if you qualify, use our REAP Grant eligibility tool.
Homeowners can qualify for a 30% federal income tax credit for installing residential solar panels, making solar power a sensible option throughout much of the country. Alongside federal efforts, state and local programs help to support the use of solar power.
A total of 6 solar rebates and incentives are available in Kentucky through various utility companies and government agencies.
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 Spencer County, KY?
Homeowners in Spencer County who intend to live in their residence beyond the payback period of their solar system will find solar panels an obvious choice. A 5 kW solar system in Spencer County, KY might save you an average of $34,941.6 over 20 years, with the break even point typically being 0 years.
The cost of not having solar panels in Spencer County, KY
Besides missing out on the aforementioned savings, not installing solar panels or any backup energy system leaves you totally reliant on your electric utility for power. Recent news has demonstrated that complete dependence on your utility company is not always ideal.
Recently, the average number of utility outages per customer annually in Spencer County has been about 1.19. The average length of an outage is 147.8 minutes. In events like construction accidents, overloaded power grids or earthquakes, this duration can extend significantly.
Take a look at the info below to see the number of current electricity customers without power in Spencer County.
A solar panel system, with or without a backup battery, could help mitigate the effects of future outages you might face.
Power Outages
Currently, 0 customers are being tracked in Spencer County.
What impacts the cost of solar panels in Spencer County, KY?
Your Energy Needs - Though the initial cost of larger solar panel systems is greater, the price per watt diminishes as the system gets larger. A majority of homeowners find it advantageous to set up a solar system that can generate enough electricity to replace the entirety of their electric bill. This approach makes the most sense for maximum savings.
Make & Model - Solar panels and mounting equipment are offered in a range of makes and models. The preferences for brand that your installer has may make it vital to pick a recommended installer. Buyers frequently find that utilizing higher quality equipment results in a more favorable long-term experience.
Solar Panel Type - The standard in the industry is now monocrystalline panels, and for good reason. Despite the higher price tag, these panels produce greater energy output. Most installation experts use panels crafted from this material.
Your Property - Each property and home has its own characteristics. Factors such as trees, sloping terrain, or additional hurdles can make the installation more challenging. By using satellite images, many solar installers nowadays can assess your home and include these factors into the initial cost estimate.
Labor Rates - Different companies have varying pay scales for their employees, and these costs are ultimately passed on to consumers. Higher reviews for services and customer service are often associated with companies that pay higher wages.
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 initial estimates to provide transparency.
See what solar panels cost in other Spencer County cities
Go Solar for less than your cell phone bill.
Who are the best solar installers in Spencer County?
Solar systems for selling electricity back to the grid.
Consulting on all things solar related.
Spencer County, KY Solar Panel Cost FAQs
The average solar panel cost in Spencer County, KY as of December, 2024 is estimated at $0/W. After federal tax credits, the installation of a 5 kW solar panel system in Spencer County, KY is estimated to cost $0.
Utilities and government agencies in Kentucky are currently offering 6 different rebates and incentives. Moreover, nearly everyone is eligible for the 30% federal income tax credit.
Even though cash payments provide the greatest savings, many financing options for solar panels today are also cost-effective. Your initial quotes will often contain information about financing options provided by installers.
Yes, on average, the return on investment for 5 kW solar panel systems in Spencer County, KY is achieved in 0 years, with electricity savings amounting to $34,941.6 over 20 years.
Savings from 
Environmental Impacts 
