Share this great resource
Solar Tax Credits, Incentives and Solar Rebates in Kentucky
Latest Update:by Simone Garneau
|Solar Value Index||$711|
|Solar Energy Produced||6,672 kWh / year|
|Average retail electricity price (as of December 2017)||10.66 cents / kWh|
|Average annual consumption per household (2015 data)||13,440 kWh|
|Levelized Cost of Solar Electricity||8.39 cents / kWh|
|Reached grid parity?||Yes|
The Bluegrass State runs on coal, and lots of it. Kentucky is the third largest coal-producing state and almost all of the state's electricity generation is fueled by coal. The share of solar energy in the state's electricity mix is minimal. Other renewables are also under-represented, with only small amounts of hydroelectricity generation. But not all is lost when it comes to solar energy in the state, as financial incentives help to make solar power more affordable.
At 10.66 cents/ kWh, the electricity prices in the state are below the national average of 12.81 cents / kWh. When it comes to average electricity consumption per household, residents of this state consume 13,440 kWh per year, above the national average of 10,836 kWh.
Kentucky is a grid parity state, making solar power cheaper than the residential utility rates. Especially when used in combination with the 30% federal solar tax credit, the incentives listed below can significantly reduce the cost of installation of solar panels for your home or business.
- Energy Efficiency Loans for State Government Agencies
- Greater Cincinnati Energy Alliance - Residential Loan Program
- Incentives for Energy Independence
- Mountain Association for Community Economic Development - Energy Efficient Enterprise Loan Program
- Renewable Energy Tax Credit (Corporate)
- Renewable Energy Tax Credit (Personal)
- Tax Credits for Renewable Energy Facilities
- Tax Exemption for Large-Scale Renewable Energy Projects
- TVA - Green Power Providers
- TVA - Mid-Sized Renewable Standard Offer Program
- TVA - Solar Solutions Initiative
- Average electricity consumption data is from the U.S. Energy Information Administration.
- Average retail electricity price is from the Electric Power Monthly report of the U.S. Energy Information Administration.
- Solar Value Index is based on the analysis performed using our own solar energy calculator, Sunmetrix Discover.
- The estimated lifetime of solar panels is 25 years for the purposes of calculating the Levelized Cost of Electricity (LCOE).
- State incentives list is compiled from the Database of State Incentives for Renewables and Efficiency maintained by the N.C. State University.
Spread the solar goodness: please share this guide with your friends and family.
Share this great resource
Sunmetrix is a Canadian winner of the business innovation contest organized by the U.S. Department of Energy
Your website is excellent. It provides great information and advice.