Solar Panel Cost Guide in Grayson, KY (2024 Update)
- Grayson Solar Installation Cost: $24,710
- 25-Year Savings: $28,253
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Grayson
We break down average solar pricing in Grayson.
The average cost of solar panels in Grayson is 4 per watt.Because a 9.7-kW system is needed to cover the energy usage of a typical home in Grayson, the average price of going solar will be about $24,710 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.Many homeowners find adopting solar power is a sound investment. The average homeowner in Grayson can save about $17,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a custom quote.
Solar savings over time in Grayson
| Year | Return on Investment |
|---|---|
| 1 years | $-23,161 |
| 3 years | $-20,064 |
| 5 years | $-16,967 |
| 7 years | $-13,869 |
| 9 years | $-10,772 |
| 11 years | $-7,674 |
| 13 years | $-4,577 |
| 15 years | $-1,479 |
| 17 years | $1,618 |
| 19 years | $4,716 |
| 21 years | $7,813 |
| 23 years | $10,911 |
| 25 years | $14,008 |
Top Solar Installers in Grayson
When going solar, many homeowners decide to go with a solar company since overseeing your solar installation yourself can be a difficult project. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over time.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Grayson:
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 Grayson
Factors that Affect Solar Panel Costs in Grayson
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Grayson: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. 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.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Grayson, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over five to seven years on average.Although solar loans make going solar more accessible for Grayson homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can influence how much it costs. Grayson’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $11,412 | 14.6 years |
| 8 kW | $3.72 | $20,849 | $15,625 | 14.3 years |
| 10 kW | $3.65 | $25,550 | $20,043 | 14.0 years |
| 12 kW | $3.58 | $30,047 | $24,665 | 13.7 years |
| 14 kW | $3.50 | $34,339 | $29,491 | 13.4 years |
| 16 kW | $3.43 | $38,427 | $34,521 | 13.2 years |
| 18 kW | $3.36 | $42,311 | $39,756 | 12.9 years |
| 20 kW | $3.29 | $45,990 | $45,196 | 12.6 years |
How to Save on Solar Panels
There are a lot of companies available in Grayson, and some homeowners feel overwhelmed considering their options. Selecting 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 be tedious, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous 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 Grayson, KY Solar Cost FAQs
What is the average cost of installing solar panels in Grayson?
This is a hard 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Grayson?
Solar panels aren’t free in Grayson, 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 can further reduce the cost.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $911.86 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.