Cost of solar panels kentucky

How much does solar cost in Kentucky?

Get your free solar cost estimate. The average cost to install solar panels is $25,740 in Kentucky ($18,018 after the federal tax credit). You can get a 6-kW home solar system for a little under $10,000, but many households need a bigger system to cover all their energy needs.

Does Kentucky pay taxes on solar installation?

The cost of installation of renewable energy systems in Kentucky is supported by the federal solar investment tax credit. The amount of this tax credit is currently 30% of the value of the solar system and it is claimed on your taxes in the year after installation.

Is it worth installing solar panels in Kentucky?

Installing solar panels in Kentucky is generally worth it. Factors such as the cost of electricity, incentives, climate, and the angle at which the sun hits your roof can influence how quickly you recoup your investment compared to other parts of the U.S.

How much does a solar system save in Kentucky?

A properly-sized solar system in Kentucky can save an average of $20,247 on utility bills over its lifespan, not taking into consideration rising energy costs. Since electricity prices are still on the rise in Kentucky, the likelihood is that you’ll save even more.

How can I minimize the cost of solar in Kentucky?

You can minimize the cost of solar in Kentucky by taking advantage of incentives and rebates and shopping around for quotes. The federal tax credit in Kentucky allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill, as long as your federal tax bill is high enough.

Is there a solar tax credit available in Kentucky?

In Kentucky, you can take advantage of the federal tax credit which allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill. As long as your federal tax bill is high enough, you can utilize this incentive. If the amount exceeds your tax bill, you can roll over the remaining credit to the following year.