Solar Panels Cost 0k-0k in Woodford County, KY | November, 2024

Solar Panels Cost $0k-$0k in Woodford County, KY | November, 2024

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How much do solar panels cost in Woodford County, KY in 2024?

In Woodford County, KY in November, 2024 you'll pay about $0 per watt to have solar panels.

Each 1 kW (1000 watts) of solar power capacounty will cost you $0 for installation. In Woodford County, a 5 kW solar panel install sets you back, on average, $0 after the 30% federal income tax credit. A 5kW system may not be big enough to fully meet your energy demands.

Select your county from the menu on the left to find the average roof size and maximum solar panel system capacity for homes in your area. Below, you can see a comprehensive outline of the costs, payback period, and 20-year typical 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.
Woodford County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Woodford 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.
Woodford County: $32,443US Average: $16,169

Solar Potential in Woodford County

Estimated system size and solar electricity production per median viable roof in
Woodford County.

Roof size 804sq. ft.
Capacity 11.25kW DC
Electricity 13.3kkWh AC per yr.

Electricity Costs in Woodford County, KY & What that Means for Your Solar Panel Pricing

In Woodford County, the monthly kWh usage for energy consumers averages 1,129 kWh, with an average electric bill of 135.18. It’s worth remembering that this figure encompasses apartments and other smaller living spaces that generally have less energy use.

Woodford County, KY's electricity rate is on average 11.97¢ per kWh in November 2024.

Upfront, a 10 kW solar panel system is priced at around $0, after a 30% federal tax credit, the final cost is $0.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Woodford County

On the left, you will find a price breakdown for different solar panel system sizes set up in Woodford County. The investment for a larger solar panel setup is higher, but it also offers more significant electricity savings and more substantial income tax credits.

The solar panel cost calculator down and to the right analyzes costs and benefits, considering an average $135.18 electric bill in Woodford County For results that are customized, modify the $135.18 to match your average electricity bill.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,050 a year
Est. Price
$0
Savings from a 6kWthis system
  • Est. yearly production 8,752 kWh
  • Est. monthly savings $88
  • Full payback in 0 years
Environmental Impacts
  • Reduces CO2 emissions by 8.28 tons a year
  • Equivalent to planting 380 trees a year
  • Equivalent to driving 20,491 mi less a year
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 9.66 tons a year
  • Equivalent to planting 444 trees a year
  • Equivalent to driving 23,906 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 11.04 tons a year
  • Equivalent to planting 507 trees a year
  • Equivalent to driving 27,321 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 12.42 tons a year
  • Equivalent to planting 570 trees a year
  • Equivalent to driving 30,737 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 $135
  • 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

Woodford County Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can fund anywhere from 80% to 100% of the expenses associated with setting up solar energy or wind turbines for rural small businesses and farmlands. Confirm if you are eligible by trying our REAP Grant eligibility tool.

For those looking into residential solar, the 30% federal income tax credit is offered to most people, which makes solar a feasible option in many states. In conjunction with federal efforts, state and local programs help to promote the use of solar power.

In Kentucky, 6 solar rebates and incentives are currently available from different utilities and government agencies.

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 Woodford County, KY?

For those in Woodford County looking to stay in their homes past the payback period of their solar system, solar panels make good sense. With a 5 kW solar system in Woodford County, KY, the average savings over a 20 period is $32,443.2, with break even typically occurring at 0 years.

The cost of not having solar panels in Woodford County, KY

Not installing solar panels or any other backup energy system leads to missing the previously noted savings and full dependence on your electric utility for electricity. Recent news examples have shown that full reliance on your utility provider is not always ideal.

Every year, customers in Woodford County face approximately 0.92 outages each year. On average, each outage lasts for 113.08 minutes. Major events like wildfires, aging infrastructure, or vandalism can considerably extend these durations.

See the graphic below to see the number of current electricity customers without power in Woodford County.

With or without a backup battery, a solar panel system could ease the stress of future power disruptions you might experience.

Power Outages

Currently, 0 customers are being tracked in Woodford County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Woodford County, KY?

Your Energy Needs - Larger solar panel systems require more upfront investment, but the cost per watt drops as the size of the system expands. Many homeowners find it useful to install a system that can produce enough electricity to replace the entirety of their electric bill. This approach makes the most sense for optimal savings.

Make & Model - Similar to many other products, there are different makes and models of solar panels and mounting equipment on the market. The installer you choose may have specific brand preferences, so it's important to select a highly rated installer. Buyers who prioritize better models generally enjoy a better long-term experience.

Solar Panel Type - It's not surprising that monocrystalline panels are now the industry standard. Despite the higher price tag, these panels provide greater energy output. Most installation experts use panels made from this material.

Your Property - Trees, irregular terrain, or additional challenges can increase the difficulty of the installation. Many solar installers today are able to leverage satellite imagery to evaluate your home and factor in these aspects in the initial cost estimate.

Labor Rates - Differences in employee wages across companies lead to expenses that are transferred to the consumers. Businesses that pay higher wages often get higher reviews for their work and customer service.

Permitting & Interconnection - The cost of installation will change depending on local permitting and utility interconnection fees. Experienced local installers will incorporate these numbers into your first quotes to avoid any surprises.

See what solar panels cost in other Woodford County cities

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Who are the best solar installers in Woodford County?

YellowLite

Cleveland, OH(216) 333-1364

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.

Core Development Group

(201) 825-2195

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Solgen Power

Pasco, WA(855) 709-1181

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Solar Alliance Southeast

Knoxville, TN(865) 309-4674

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Appalachian Renewable Power Systems

Stewart CDP, OH(740) 498-0498

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Dividend Finance

Cincinnati, OH(415) 805-7000

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Silver Sun Solar

Deltona, FL(407) 832-42452

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Icon Solar

Milford, OH(513) 396-7777

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Woodford County, KY Solar Panel Cost FAQs

  • During November, 2024, the average price for solar panel installations in Woodford County, KY is $0/W. Installing a 5 kW solar panel system in Woodford County, KY will cost approximately $0 after applying the federal tax credit.

  • If you live in Kentucky, you can find 6 rebates and incentives through different utilities and government agencies. Furthermore, almost all individuals are entitled to the 30% federal income tax credit.

  • While paying cash provides the most savings, various financing options for solar panels exist that also make financial sense. Financing options from installers will often be detailed in your initial quotes.

  • Yes, the typical payback time for 5 kW solar panel systems in Woodford County, KY is 0 years, and the expected electricity cost savings over 20 years is $32,443.2.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-11-04