Solar Panel Cost Guide in Corbin, KY (2024 Update)

  • Corbin Solar Installation Cost: $24,565
  • 25-Year Savings: $23,679
  • Payback Period: 15.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Corbin

Find out what the average cost of installing solar panels is in Corbin.

Although the national average of solar panels is $2.66 per watt, solar panels in Corbin generally cost around 4.The average Corbin homeowner needs a 9.6-kilowatt system, which would cost about $24,565 with the federal tax credit, or $35,128 before the 0 tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more.Despite the large upfront cost, the average Corbin homeowner can save around $16,000 on their power bills over 20 years, which is one of the perks of solar.

You can click the button below to get connected with a top solar installer in Corbin for a quote for your home.

Solar savings over time in Corbin

Year Return on Investment
1 years $-23,186
3 years $-20,428
5 years $-17,671
7 years $-14,913
9 years $-12,155
11 years $-9,397
13 years $-6,640
15 years $-3,882
17 years $-1,124
19 years $1,634
21 years $4,391
23 years $7,149
25 years $9,907

Top Solar Installers in Corbin

When going solar, many homeowners opt to hire a solar company since handling can be a difficult project. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.

If you're searching for a solar company in Corbin, we've organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Corbin

Factors that Affect Solar Panel Costs in Corbin

For many Corbin homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Corbin, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Corbin to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.

Solar Panel Installation Company

The solar company you pick will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

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 $8,661 16.2 years
8 kW $3.72 $20,849 $11,957 15.9 years
10 kW $3.65 $25,550 $15,458 15.6 years
12 kW $3.58 $30,047 $19,162 15.3 years
14 kW $3.50 $34,339 $23,072 15.0 years
16 kW $3.43 $38,427 $27,185 14.6 years
18 kW $3.36 $42,311 $31,503 14.3 years
20 kW $3.29 $45,990 $36,025 14.0 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:

  • Contract: Read the contract terms carefully to make sure you understand the overall cost, project timeline rebates and warranties.
  • Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
  • Warranty: If you’re concerned about the longevity of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Corbin, KY Solar Cost FAQs

What is the average cost of installing solar panels in Corbin?

This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Corbin?

Leasing solar panels can be an appealing choice, because it usually 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 way to go if you want to get the most savings.

Do solar panels increase your home value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Corbin is currently $153,487, so you can look forward to a value of about $6,293 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Corbin is a rewarding investment.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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.

Follow us