Solar Panel Cost Guide in Ashland, KY (2024 Update)
- Ashland Solar Installation Cost: $24,848
- 25-Year Savings: $13,870
- Payback Period: 14.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated February 03, 2024
Why you can trust EcoWatch
Average Cost of Solar Panels in Ashland
See how much it might cost to install solar panels in Ashland.
The average cost of a solar system in Ashland is 4 per watt.Using this figure, a typical 9.7-kW system would cost about $24,848 before the 0 federal solar tax credit is applied.
The actual price you pay can go above or below the average in Ashland depending on several factors, such as the brand of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $17,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a custom quote.
Solar savings over time in Ashland
Year | Return on Investment |
---|---|
1 years | $-23,299 |
3 years | $-20,202 |
5 years | $-17,104 |
7 years | $-14,007 |
9 years | $-10,909 |
11 years | $-7,812 |
13 years | $-4,714 |
15 years | $-1,617 |
17 years | $1,481 |
19 years | $4,578 |
21 years | $7,675 |
23 years | $10,773 |
25 years | $13,870 |
Top Solar Installers in Ashland
Many homeowners opt for a solar installer since installing solar panels on your own can be time-consuming. Another advantage of going with a solar company is that they can help you make the most of your return of investment by bringing down your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Ashland
Factors that Affect Solar Panel Costs in Ashland
For many Ashland homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Ashland, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Ashland to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can impact the cost. Ashland’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Ashland have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $3.80 | $15,943 | $11,364 | 14.6 years |
8 kW | $3.72 | $20,849 | $15,560 | 14.3 years |
10 kW | $3.65 | $25,550 | $19,961 | 14.0 years |
12 kW | $3.58 | $30,047 | $24,567 | 13.8 years |
14 kW | $3.50 | $34,339 | $29,377 | 13.5 years |
16 kW | $3.43 | $38,427 | $34,391 | 13.2 years |
18 kW | $3.36 | $42,311 | $39,610 | 12.9 years |
20 kW | $3.29 | $45,990 | $45,033 | 12.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Ashland, KY Solar Cost FAQs
How much does it cost to install solar panels in Ashland?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Ashland?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels eliminate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Ashland, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.