Solar Panel Cost Guide in Fort Knox, KY (2024 Update)
- Fort Knox Solar Installation Cost: $24,373
- 25-Year Savings: $24,708
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Fort Knox
Let’s have a look at the average cost of solar panels in Fort Knox.
The average cost of solar panels in Fort Knox is 4 per watt.The average Fort Knox homeowner needs a 9.5-kilowatt system, which would cost about $24,373 with the federal tax credit, or $34,853 before the 0 tax credit is applied.
These figures are only estimates, and your own solar costs will vary based on factors unique to your home and what company you want to go with.Despite the large initial cost, the average Fort Knox homeowner can save around $17,000 on their power bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a highly rated solar company in Fort Knox, you can click the button below.
Solar savings over time in Fort Knox
| Year | Return on Investment |
|---|---|
| 1 years | $-22,994 |
| 3 years | $-20,236 |
| 5 years | $-17,479 |
| 7 years | $-14,721 |
| 9 years | $-11,963 |
| 11 years | $-9,205 |
| 13 years | $-6,448 |
| 15 years | $-3,690 |
| 17 years | $-932 |
| 19 years | $1,826 |
| 21 years | $4,583 |
| 23 years | $7,341 |
| 25 years | $10,099 |
Top Solar Installers in Fort Knox
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring a solar company can make converting to solar power much easier. Plus, if you aren’t sure what brand of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar installer in Fort Knox, we've compiled a list of our top suggestions here:
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 Fort Knox
Factors that Affect Solar Panel Costs in Fort Knox
For many Fort Knox homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Fort Knox, with typical prices between $20,000 to $40,000. There are numerous factors that considerably 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 determines the overall cost of going solar. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar panels and equipment you choose is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Fort Knox, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the total 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 more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Fort Knox is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, you’ll have many options for solar installers that provide a range of services for different budgets.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $9,425 | 15.7 years |
| 8 kW | $3.72 | $20,849 | $12,975 | 15.4 years |
| 10 kW | $3.65 | $25,550 | $16,730 | 15.1 years |
| 12 kW | $3.58 | $30,047 | $20,690 | 14.8 years |
| 14 kW | $3.50 | $34,339 | $24,853 | 14.5 years |
| 16 kW | $3.43 | $38,427 | $29,221 | 14.2 years |
| 18 kW | $3.36 | $42,311 | $33,794 | 13.9 years |
| 20 kW | $3.29 | $45,990 | $38,571 | 13.6 years |
How to Save on Solar Panels
There are a lot of companies available in Fort Knox, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Installation Process: When making the switch to solar energy, it’s necessary to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
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 Fort Knox, KY Solar Cost FAQs
How much does it cost to install solar panels in Fort Knox?
The average cost of solar panels in Fort Knox is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Fort Knox?
Solar panels aren’t free in Fort Knox, but there are some options that can make getting them more feasible, 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 Fort Knox?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
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 larger 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.