Rooftop Solar Panels Kentucky

The feds calculate their 30 tax credit based on actual out of pocket costs so you ll get 6 375 back as a tax credit for a new price after year 1 of 14 875.

Rooftop solar panels kentucky.

Many homes and businesses in kentucky are powered by solar panels. The main incentives for going solar in kentucky are the following. Enter your details into the solar panel calculator to see how your location roof tilt and roof direction impacts solar panel production. Here s how the numbers work for a kentucky solar purchase of a 5 kw rooftop solar system.

An extra 500 in tax credit on top of the 30 federal tax credit when you purchase a pv system in kentucky. Design install flip the switch. A favorable net metering policy that requires utilities to give you full credit for any surplus production from you solar pv system. There s enough solar energy installed in kentucky to power 581 homes 6 megawatts of energy a year according to the solar energy industries association.

More than one third of that solar energy was installed in 2016 alone suggesting that the installation rate is accelerating. As of sep 2020 the average cost of solar panels in kentucky is 2 34 per watt making a typical 6000 watt 6 kw solar system 10 398 after claiming the 26 federal solar tax credit now available. The cost of solar power has fallen 80 to 90 in the last 10 years making it accessible to so many more people. Kentucky lawmakers have placed the future of rooftop solar in the hands of state regulators changing how homeowners and small businesses receive compensation for the excess power they produce.

Solar energy has enormous potential for the people of eastern kentucky said mr. A solar system that is installed on a south facing 30 degree pitch roof kentucky will generate 1 550kwh of peak dc direct current capacity per year per 1kw in kentucky. Installing a typical 5 kw solar system should start at about 21 250.