Chad Thomas Johnston

May 28, 2024 | usnews.com | Chad Thomas Johnston

Costs and Incentives for Solar Panels in MaineThe average Maine resident who goes solar needs a 10.41-kilowatt (kW) system to meet their power needs. According to EnergySage, the average array costs $3.42 per watt in the state, and a system this size in Maine costs nearly $35,600 before incentives. With the federal residential solar energy credit taken into account, which covers 30% of a system’s cost, the price decreases to about $24,900.

May 28, 2024 | usnews.com | Chad Thomas Johnston

Costs and Incentives for Solar Panels in IndianaEnergySage estimates that solar costs an average of $3.43 per watt in Indiana and that the average Indiana resident needs an 11.69-kilowatt (kW) solar energy system to power their home. A system this size costs around $40,000 before incentives in the state – that comes to about $28,000 after accounting for the 30% federal residential solar energy credit.

May 28, 2024 | usnews.com | Chad Thomas Johnston

Costs and Incentives for Solar Panels in IowaAccording to EnergySage, the average Iowan needs a solar energy system with a capacity of 12.6 kilowatts (kW). A system this size, before incentives, costs nearly $39,000 on average in Iowa. The good news? After applying the federal residential solar energy credit to the balance, which covers 30% of the system cost, the final price will drop significantly. You can also get a smaller system, depending on your energy needs, which will cost less.

May 28, 2024 | usnews.com | Chad Thomas Johnston

Costs and Incentives for Solar Panels in KentuckyEnergySage estimates that the average Kentucky home needs a 15-kilowatt (kW) solar energy system for power, which is relatively large. The average per-watt cost of solar in the state is $2.83, so a system this size costs about $42,500 before incentives. However, with the 30% federal residential solar energy credit applied, the cost comes down to about $29,700. State Incentives and Tax CreditsKentucky does not offer a state tax credit.

May 13, 2024 | usnews.com | Chad Thomas Johnston |Erica Beimesche |Serena Lopez

Both solar leases and power purchase agreements (PPAs) offer contract-based, third-party-owned (TPO) solar energy systems for homeowners. Solar leases charge a flat monthly rate for customers to access the power generated by systems – it’s basically like renting the equipment. A PPA charges customers based on projected kilowatt-hour (kWh) system production each month. Usually, yes. Many third-party owners offer buyout options for customers.