7 Best Solar Companies in Kentucky

The Main Types of Residential Solar Systems

As you discuss options with your contractor to design a solar solution, you'll pick from the three fundamental panel types available. Each type is designed for different budgets and roof styles, but they all use the same reliable technology to power your home.

Monocrystalline

Black-hued monocrystalline panels are balanced between output and physical footprint. They get their name from the single crystal of silicon used in each cell. While they cost more in the beginning due to their more intricate manufacturing process, their efficiency means you'll save more money over the longer term.

Polycrystalline

If low upfront costs are important to you, consider a polycrystalline array. These dark blue panels contain a composite of multiple different silicon fragments in each cell, with less material wasted at the factory.

Despite the fact that you can build a high-capacity system with polycrystalline panels, it'll have a bigger physical footprint when compared to a monocrystalline array at the same capacity.

Thin-film

Thin-film panels are a great choice for value in more "partly sunny" areas of Kentucky. They retain efficiency as temperatures fluctuate and work with many different roof shapes. Thin-film solar panels use a variety of metal alloys instead of silicon crystals. Some homeowners select them for their light weight or greater compatibility with unique roof shapes. Others go with them for their greater heat resistance and low-light performance.

Although some thin-film panel models are approximately as efficient as polycrystalline panels, other models are far less efficient or have very short lifespans.

Solar Purchase Options

Adopting solar energy is a significant investment. Once you and your installer agree on which kind and model of panels to use, you can select from a range of purchase options:

• Solar leases: If you choose a solar lease, you could pay as little as $0 down, then a variable amount per month based on how much power your panels will produce. Many leases, but not all, will automatically include required maintenance to maximize efficiency. A lessee could also receive compensation for months when their panels don't meet a predicted efficiency benchmark. However, since the lease provider owns the panels, they can remove them if you sell your home. Your property's value won't increase with a lease, and you won't be able to take advantage of most state incentive programs.
• Power purchase agreements (PPAs): With a power purchase agreement, your contractor will sell you the power your solar system generates for the length of the contract duration. In exchange, they'll pay for the cost of the system. Remember that some PPAs can last for 20–25 years. While you can end the PPA by buying the system from the contractor, there may be early termination fees.
• Solar financing: If you want to own your solar panels faster, get some tax breaks, and capitalize on local incentives, consider a solar loan. New lenders specializing home energy projects have come onto the scene in the banking sector, and you could avoid paying a down payment or interest with the right lender. However, the specific terms of a solar loan will often depend on on your credit score.

Your final bill will contain the cost of the panels, your contractor's labor, subcontracted roofing, electrical, and plumbing work, and application fees if you're connecting your panels to the grid through your utility. Each financing option is usually all-inclusive.

Residential Solar Incentives and Cost Support

Going solar is a significant investment, and utility companies and state governments often offer financial incentives to eliminate costs and welcome you into the clean, decentralized energy world. Some of the most common types of programs include:

• Tax credits: Depending on where you live, your local authorities may offer income tax credits or even property tax exemptions on new solar panels. The U.S. government also offers a 30% tax credit on "residential clean energy" equipment, which you can apply for by filing Form 5695 for the year when you install the panels.
• Rebates: Rebates are direct incentives from utility companies or manufacturers. The application process for a rebate will vary from program to program, but generally, your company will have to submit plans or receipts and prove that they're have the right endorsements to work on your project. Sometimes, the contractor will receive the payment and give you a discount on their work. With other programs, you'll get the money as a direct payment or a credit on your power bill.
• Net metering: Many homeowners have solar panels that generate more electricity than their property needs. If you're enrolled in a net metering program, you'll send power you don't use back to the grid in exchange for credits on your energy bill. This saves you money and fortifies the security of the power grid for others in your area.
• Net billing: Some utilities and electrical co-ops have switched from net metering to net billing. Net billing households sell their excess generation wholesale, with small houses receiving compensation at the equivalent rate as large solar farms.

Solar Energy By the Numbers in Kentucky

Curious about solar energy's impact on the Kentucky economy? These statistics paint a good picture of the growing solar market in your area.

• In Kentucky, the average new home solar array is rated for up to 10.0 kW and costs $23,386.
• Kentucky generates 12 MW of residential solar energy, reaching 4,468 homes and growing.
• Without solar, the average family spends about $1,795 a year on their electricity bill.
• Solar energy has enabled the creation of 1,362 jobs in Kentucky, with more added as companies grow and technology continues to improve.
• A five-kilowatt solar energy system in Kentucky has an average payback period of 11.4 years. That said, a system at that capacity would also save you $817.95 on your energy bill.

Useful Resources

Check out these sources to go in-depth on solar policies, incentives, and viability in Kentucky:

• DSIRE: You can use DSIRE to track solar incentive programs in your area, including public policies in your state, solar thermal rebates, net metering or billing programs, and solar photovoltaic incentives.
• PVWatts: Produced by the U.S. Department of Energy, this tool lets you enter your zip code and get predictions of how much energy a solar panel system could generate at your specific location.
• Best solar companies by city: If you're looking for tailored solar company recommendations in your area, Today's Homeowner has just what you need. We can recommend you the best companies in cities like LOUISVILLE,KY, LEXINGTON FAYETTE,KY, BOWLING GREEN,KY, OWENSBORO,KY and COVINGTON,KY.