I guess that a proper approved grid-tied micro hydro would start at $15000 ++
A generator with a grid-tie-inverter wouldn't be approved here i think. We (Norway) take hydro power rather seriously here.
Nearly all power production and usage here in Norway are from hydro plants, and more plants are under developement; most of them private. (The water-power potential here are currently 205,7TWh/year, and around 60% of this are developed.)
(A curiosity: There's a clause in the permission of power productions that says that a plant will be transferred to the goverment after 60 years in production. This is to ensure national power.)
Power cuts aren't that frequent here. It does sometimes happen when we get 3-6 feet of snow in a day... (Trees falling over the power lines etc. due to snow.)
As you said in another comment; there's always use for excess power on a farm, so a non-grid-tied plant would work just fine. On the other side; if there's some equipment on the farm that's critical, a grid-tie-plant with island-capabilities would seem the way to go...
Just to be curious; where is this place?