Over the past few years, there has been a growing interest in solar energy among homeowners in Kentucky. With the cost of solar panels decreasing and the availability of government incentives, more and more homeowners in the state are considering going solar.
According to the Solar Energy Industries Association, Kentucky ranked 45th in the nation for installed solar capacity as of 2021, with just over 100 megawatts (MW) of solar capacity installed in the state. However, this number is expected to grow in the coming years as more homeowners turn to solar energy.
One of the reasons for the growing interest in solar energy among homeowners in Kentucky is the state’s net metering policy, which allows homeowners to receive credit for any excess electricity generated by their solar panels and fed back into the grid. This credit can offset the cost of electricity purchased from the utility company, making solar energy a more affordable option for many homeowners.
In addition, there are a number of government incentives available to homeowners in Kentucky who install solar panels. For example, homeowners can take advantage of a 26% federal tax credit for the cost of their solar panel installation. In addition, the state of Kentucky offers a tax credit of up to $1,000 for homeowners who install solar panels on their property.
Another factor driving the adoption of solar energy among homeowners in Kentucky is the growing concern over climate change and the desire to reduce carbon emissions. By generating their own electricity from solar panels, homeowners can reduce their reliance on fossil fuels and help to reduce their carbon footprint.
As the cost of solar panels continues to decrease and government incentives remain in place, more and more homeowners are likely to turn to solar energy as a way to save money on their energy bills and reduce their carbon footprint. In addition, advances in battery storage technology may make it possible for homeowners to store excess solar energy generated during the day and use it during peak demand times, further increasing the value of solar energy in Kentucky.
Furthermore, if you’re a homeowner in Kentucky, there’s never been a better time to invest in solar energy. Not only can you reduce your carbon footprint and help protect the environment, but you can also save money on your energy bills and take advantage of government incentives. With net metering policies in place and a range of tax credits available, the cost of solar panel installation is more affordable than ever before. Plus, advances in battery storage technology mean that you can store excess energy generated by your solar panels and use it during peak demand times, further reducing your reliance on traditional energy sources. By going solar, you can take control of your energy future and join the growing number of homeowners in Kentucky who are reaping the benefits of this renewable energy source.