Cost of solar in Frankfort, KY

Electricity Consumption in Frankfort

Electricity Consumption by Kentucky residents averages 1216 kWh per month. It ranks #39 in the nation for savings from installing solar panels on the home.

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Solar power in Frankfort, Kentucky

Frankfort Plant Board (FPB) offers its customers net metering. FPB will pay its solar customers for any excess electricity their solar systems generate at the full retail rate of electricity. However, in 2019 Kentucky adopted a new bill that will come into effect in 2020. This new bill states that Kentucky’s Public Service Commission will decide the rate at which excess generation will be created. There is no guarantee that the credit will equal the full retail rate, so the best time to go solar in Kentucky is now before the credit amount changes. 

Frankfort residents can also take advantage of the federal solar tax credit. The tax credit is equal to 30% of the cost of a solar system and is applied to your federal income taxes. In some cases, you may be able to wipe out your entire tax bill for a year! The combination of the federal tax credit and FPB’s net metering program can provide you with great savings, but not for long! Both of these incentives are set to change at the beginning of 2020.

Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator for Frankfort to find out:

 

Estimate your solar savings

 

Solar power in Kentucky

The average cost of installing residential solar panels in Frankfort, Kentucky in 2019 is $3.53 per watt. The average system size in the US is 6 kilowatts, which means the average price of a solar system in Frankfort, KY is $17,650. (before claiming 30% tax credit and other rebates)

What does the cost of a real solar system look like?

Facts about installing a 7.98kW solar system in Frankfort, KY

This system would offset 100% of your energy usage if your typical monthly bill is $119, however your situation may vary so try our Frankfort solar calculator to get a result tailored to you.

$18,490

Net cost of system
Cash - after 30% solar tax credit

10 Years 5 Months

Average payback time

9,986
kWh

Annual power production


/kWh

levilized cost of solar energy

25¢
/kWh

If you don't get solar
The forecast average utility price over the next 25 years

Cash flow graph based on cash purchase of this 7.98kW system

Life-time savings on this system over the next 25 years

$36,771

(Prices shown after repayments of capital)

 


Solar calculator and quote comparison tool

Average total cost of solar panel installation in Kentucky

System Size Cash purchase
After 30% solar tax credit
Financed purchase
After 30% solar tax credit
3kw $8,127 $8,777
4kw $10,528 $11,370
5kw $12,775 $13,797
6kw $14,826 $16,012
7kw $16,758 $18,099
8kw $18,536 $20,019
9kw $20,160 $21,773
10kw $21,630 $23,360

 

Design your own solar panel system for your home

Going solar in Kentucky

Check out all of the ways energy providers of Kentucky can help you be more energy efficient and save money.

The following programs are available:
Incentive Name Eligibility Type
Residential Renewable Energy Tax Credit Federal Personal Tax Credit
Net Metering State Net Metering
Find your local rebates and incentives

Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.