Solar Savings Calculator for Covington, KY
Homeowners in Covington pay an average of $140/month for electricity through Duke Energy Kentucky. With 4.1 peak sun hours per day, solar panels can significantly reduce your energy costs.
$140
Avg Monthly Bill
14¢/kWh
Electricity Rate
4.1h/day
Peak Sun Hours
$42,338
Est. 25-Year Savings
Calculate Your Savings in Covington
Adjust Your Details for Covington, KY
$
$50$1,000
50010,000
5¢50¢
Your Estimated Solar Savings
System Size
8.4 kW
Panel Count
21 panels
Total System Cost
$23,100
Federal Tax Credit (30%)
-$6,930
Net Cost
$16,170
Annual Savings
$1,680
Payback Period
9.6 years
25-Year Savings
$42,338
Return on Investment
262%
* Estimates based on 4.1 peak sun hours/day in Covington, KY, system cost of $2.75/watt, 30% federal ITC, 3% annual electricity inflation, and 0.5% annual panel degradation over 25 years. Actual results may vary.
Local Solar Details for Covington
Utility & Permits
- Utility Company
- Duke Energy Kentucky
- Permit Cost
- $275
- Permit Timeline
- 2-3 weeks
- Net Metering
- full
System Estimates
- Recommended Size
- 8.4 kW
- Panel Count
- 21 panels
- Gross Cost
- $23,100
- Net Cost (after credits)
- $16,170
Available Incentives for Covington, KY
Federal Solar Investment Tax Credit (ITC)
Reduces federal income tax liability by 30% of the total cost of a solar energy system, including equipment and installation.
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