Solar Panel Cost Guide in Hazard, KY (2024 Update)
- Hazard Solar Installation Cost: $24,787
- 25-Year Savings: $28,370
- Payback Period: 14.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Hazard
Let’s take a look at the average cost of solar in Hazard.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hazard, the typical cost of a solar system is 4 per watt.The average Hazard homeowner needs a 9.7-kilowatt system, which would cost about $24,787 with the federal tax credit, or $35,445 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 look quite different based on your household energy needs, the type of equipment you want to get, your solar contractor and more.Even with the high initial cost, the average Hazard homeowner can save around $17,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Hazard
| Year | Return on Investment |
|---|---|
| 1 years | $-23,238 |
| 3 years | $-20,141 |
| 5 years | $-17,043 |
| 7 years | $-13,946 |
| 9 years | $-10,848 |
| 11 years | $-7,751 |
| 13 years | $-4,653 |
| 15 years | $-1,556 |
| 17 years | $1,542 |
| 19 years | $4,639 |
| 21 years | $7,737 |
| 23 years | $10,834 |
| 25 years | $13,931 |
Top Solar Installers in Hazard
When making the switch to solar, many homeowners choose to use a solar installation company since DIY solar panel installation can be a time-consuming project. Another perk of going with a solar installer is that they can help you make the most of your return of investment by cutting back on future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Hazard
Factors that Affect Solar Panel Costs in Hazard
For many Hazard homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Hazard, 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
Solar 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 assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.Though solar loans make switching to solar energy more accessible for Hazard homeowners, they can also increase 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
The solar panel installer you select will affect 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 considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more 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 discount 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 | $11,431 | 14.6 years |
| 8 kW | $3.72 | $20,849 | $15,650 | 14.3 years |
| 10 kW | $3.65 | $25,550 | $20,073 | 14.0 years |
| 12 kW | $3.58 | $30,047 | $24,701 | 13.7 years |
| 14 kW | $3.50 | $34,339 | $29,534 | 13.4 years |
| 16 kW | $3.43 | $38,427 | $34,570 | 13.2 years |
| 18 kW | $3.36 | $42,311 | $39,811 | 12.9 years |
| 20 kW | $3.29 | $45,990 | $45,257 | 12.6 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:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Before you sign a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
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 Hazard, KY Solar Cost FAQs
What is the average cost of installing solar panels in Hazard?
The average cost of solar panels in Hazard 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Hazard, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.