Solar Panel Cost Guide in Ludlow, KY (2025 Update)
- Ludlow Solar Installation Cost: $24,758
- 25-Year Savings: $18,993
- Payback Period: 17.8 Years
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Average Cost of Solar Panels in Ludlow
We break down average solar pricing in Ludlow.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ludlow, the typical cost of solar panels is 4 per watt.The average solar panel system size in Ludlow is around 9.7 kilowatts, meaning a cost of about $24,758 for a solar installation, or $35,404 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Ludlow homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $14,000 over 20 years on utility bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Ludlow
| Year | Return on Investment |
|---|---|
| 1 years | $-23,563 |
| 3 years | $-21,174 |
| 5 years | $-18,785 |
| 7 years | $-16,395 |
| 9 years | $-14,006 |
| 11 years | $-11,617 |
| 13 years | $-9,227 |
| 15 years | $-6,838 |
| 17 years | $-4,449 |
| 19 years | $-2,060 |
| 21 years | $330 |
| 23 years | $2,719 |
| 25 years | $5,108 |
Top Solar Installers in Ludlow
When making the switch to solar, many homeowners choose to use a solar installer since installing a solar system yourself can be a time-consuming project. Another good thing about choosing a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
If you're on the hunt for a solar installer in Ludlow, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in Ludlow
Factors that Affect Solar Panel Costs in Ludlow
For many Ludlow homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Ludlow, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Ludlow, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your total costs, so it’s vital to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Ludlow is the company you hire to install your solar system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets.Additionally, some companies in Ludlow are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $5,645 | 18.5 years |
| 8 kW | $3.72 | $20,849 | $7,935 | 18.1 years |
| 10 kW | $3.65 | $25,550 | $10,430 | 17.8 years |
| 12 kW | $3.58 | $30,047 | $13,129 | 17.4 years |
| 14 kW | $3.50 | $34,339 | $16,033 | 17.0 years |
| 16 kW | $3.43 | $38,427 | $19,141 | 16.7 years |
| 18 kW | $3.36 | $42,311 | $22,453 | 16.3 years |
| 20 kW | $3.29 | $45,990 | $25,970 | 16.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose significantly affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
EcoWatch's Ludlow, KY Solar Cost FAQs
What is the average cost of installing solar panels in Ludlow?
The average cost of solar panels in Ludlow 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Ludlow?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ludlow is currently $184,246, which means you can look forward to a value of about $7,554 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Ludlow is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size 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 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.