Cost & Savings Breakdown
Based on $150/month electric bill in Richmond
System Size
11.3 kW
Annual Production
15,208 kWh
Gross System Cost
$31,703
Federal Tax Credit (30%)
-$9,511
State Incentive
None
Net Cost
$22,192
Monthly Savings
$122
CO₂ Offset/yr
13,992 lbs
25-Year Savings Projection
Utility & Net Metering
Local UtilityKentucky Utilities
Net Metering PolicyFull Retail
Compensation RateFull retail rate
Capacity LimitCheck with utility
Electricity Rate$0.096/kWh
Peak Sun Hours4.6 hrs/day
Available Incentives
30%
Federal ITC — Deduct 30% of your system cost from federal taxes. Available through 2032.
Common Questions
How much does solar cost in Richmond?
Solar in Richmond, Kentucky costs approximately $31,703 for a 11.3 kW system. After the 30% federal tax credit, your net cost is about $22,192.
What is the solar payback period in Richmond?
The estimated payback period for solar in Richmond is 15.2 years, based on a $150/month electric bill and local sun hours of 4.6 hrs/day.
Does Kentucky Utilities offer net metering?
Kentucky Utilities offers Full Retail net metering. Check with your utility for current compensation rates..