Solar Panels Rebate Kentucky

Unfortunately the kentucky legislature is currently squandering the state s considerable solar power potential.

Solar panels rebate kentucky.

Therefore the main incentives for solar power in kentucky are the 500 tax credit and a favorable net metering policy. The consensus on kentucky solar power rebates and incentives. Kentucky residents don t have access to as many solar incentives as residents in other states. Although there is room for improvement in the realm of solar incentives kentucky does have a great net metering policy that gives customers a credit on their utility bill for the full retail value of each excess kwh their solar system produces.

An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. Without any solar incentives in place aside from the tva generation partners program cost after year 1 remain higher than most other states and the payback time frame. Homeowners solar companies and industry advocates alike were given a big christmas gift in 2015 when congress approved the 2016 federal spending bill and extended the solar panel tax credit. 6am to 6pm and sat.

Energy costs in kentucky are about 3 5 cents per kilowatt hour less than the national average largely because of the state s vast coal reserves. Other incentives for solar accelerated depreciation. Kentucky does not have a renewable portfolio standard requiring local utilities to meet a certain renewable energy percentage by a specified date. If you re lucky enough to enjoy the low utility fees prevalent in kentucky you can save even more money while saving the planet by taking advantage of some of the financial incentives for solar power available to state residents.

The december 18 bill contained a 5 year solar tax credit extension which makes solar energy more affordable for all americans. An unbound renewable energy company open mon fri. Kentucky has one of the lowest average costs per watt for solar power a bonus to those who value clean green energy usage. Kentucky solar power incentives tax breaks and rebates.

This can be a definite benefit when trying to bring a solar energy system online and makes it easier for a solar power system to make financial sense. The tax break reduces. Thanks to accelerated depreciation businesses can write off the value of their solar energy system through the modified accelerated cost recovery system macrs which reduces businesses tax burden and accelerates returns on solar investments qualified solar energy equipment is eligible for a cost recovery period of five years. However it is currently near the bottom in terms of solar capacity installed ranking 44th in the nation with only enough energy to power 4 758 homes solar panel installation prices have fallen making now a good time to go green with solar power in kentucky.

These are the solar rebates and solar tax credits currently available in kentucky according to the database of state incentives for renewable energy website. Kentucky solar power overview.