Solar Panel Cost Guide in Mount Sterling, KY (2024 Update)
- Mount Sterling Solar Installation Cost: $24,814
- 25-Year Savings: $23,499
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Mount Sterling
See how much it might cost to make the switch to solar in Mount Sterling.
In Mount Sterling, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Mount Sterling, most homeowners require a 9.7-kilowatt system. Using the figure above, a solar installation costs about $24,814, or $35,484 before the federal solar tax credit of 0 is applied.
The true cost of your system can be higher or lower than the average in Mount Sterling depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $15,000 in savings on electricity bills over 20 years.
To get a free estimate from a vetted solar installer in Mount Sterling, you can click the button below.
Solar savings over time in Mount Sterling
| Year | Return on Investment |
|---|---|
| 1 years | $-23,436 |
| 3 years | $-20,678 |
| 5 years | $-17,920 |
| 7 years | $-15,162 |
| 9 years | $-12,404 |
| 11 years | $-9,647 |
| 13 years | $-6,889 |
| 15 years | $-4,131 |
| 17 years | $-1,373 |
| 19 years | $1,384 |
| 21 years | $4,142 |
| 23 years | $6,900 |
| 25 years | $9,658 |
Top Solar Installers in Mount Sterling
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring a solar company can make switching to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you decide which one will be right for your family.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Mount Sterling
Factors that Affect Solar Panel Costs in Mount Sterling
Although the average cost of a solar system in Mount Sterling is $24,814, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,650 per kilowatt in Mount Sterling.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Mount Sterling average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Mount Sterling, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.While solar loans make switching to solar energy more accessible for Mount Sterling homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating in Mount Sterling, and each can charge varying amounts for labor and equipment.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk 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 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 | $8,402 | 16.4 years |
| 8 kW | $3.72 | $20,849 | $11,611 | 16.1 years |
| 10 kW | $3.65 | $25,550 | $15,025 | 15.7 years |
| 12 kW | $3.58 | $30,047 | $18,643 | 15.4 years |
| 14 kW | $3.50 | $34,339 | $22,466 | 15.1 years |
| 16 kW | $3.43 | $38,427 | $26,493 | 14.8 years |
| 18 kW | $3.36 | $42,311 | $30,724 | 14.5 years |
| 20 kW | $3.29 | $45,990 | $35,160 | 14.2 years |
How to Save on Solar Panels
There are numerous companies to choose from in Mount Sterling, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Mount Sterling, KY Solar Cost FAQs
How much does it cost to install solar panels in Mount Sterling?
The average cost of solar panels in Mount Sterling 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 like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
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 think about are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.