Solar Panel Cost Guide in Cynthiana, KY (2024 Update)
- Cynthiana Solar Installation Cost: $24,692
- 25-Year Savings: $22,926
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Cynthiana
See how much it might cost to install solar panels in Cynthiana.
While the national average of solar panels is $2.66 per watt, solar panels in Cynthiana typically cost around 4.The average Cynthiana homeowner needs a 9.7-kilowatt system, which would cost about $24,692 with the federal tax credit, or $35,310 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 use, the type of equipment you choose, your solar contractor and more.But, once you've paid the initial cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar company in Cynthiana for a quote for your home.
Solar savings over time in Cynthiana
| Year | Return on Investment |
|---|---|
| 1 years | $-23,313 |
| 3 years | $-20,555 |
| 5 years | $-17,797 |
| 7 years | $-15,039 |
| 9 years | $-12,282 |
| 11 years | $-9,524 |
| 13 years | $-6,766 |
| 15 years | $-4,008 |
| 17 years | $-1,251 |
| 19 years | $1,507 |
| 21 years | $4,265 |
| 23 years | $7,023 |
| 25 years | $9,781 |
Top Solar Installers in Cynthiana
Although you can install solar panels yourself, it requires extra labor and expertise. That's why most people choose to hire a solar panel installer. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can get a free quote from a local solar installer on how much solar panels could cost 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 Cynthiana
Factors that Affect Solar Panel Costs in Cynthiana
The cost of installing a solar system in Cynthiana can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Cynthiana offer solar loans, which reduce the initial cost of installing solar panels.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Cynthiana, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $8,118 | 16.6 years |
| 8 kW | $3.72 | $20,849 | $11,233 | 16.2 years |
| 10 kW | $3.65 | $25,550 | $14,553 | 15.9 years |
| 12 kW | $3.58 | $30,047 | $18,076 | 15.6 years |
| 14 kW | $3.50 | $34,339 | $21,804 | 15.3 years |
| 16 kW | $3.43 | $38,427 | $25,737 | 15.0 years |
| 18 kW | $3.36 | $42,311 | $29,874 | 14.7 years |
| 20 kW | $3.29 | $45,990 | $34,215 | 14.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
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 Cynthiana, KY Solar Cost FAQs
What is the average cost of installing solar panels in Cynthiana?
The average cost of solar panels in Cynthiana is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Cynthiana?
A solar panel system isn’t free in Cynthiana, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Cynthiana?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.