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.The average solar panel system size in Mount Sterling is around 9.7 kilowatts, meaning a cost of about $24,814 for a solar installation, or $35,484 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with.Despite the large upfront cost, the average Mount Sterling homeowner can save about $15,000 on their energy bills over 20 years, which is one of the advantages of solar.
To receive a free estimate from a vetted solar company 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
When going solar, many homeowners choose to go with a solar installer since DIY solar panel installation can be a difficult project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're searching for a solar installer in Mount Sterling, we've put together a list of our top suggestions here:
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
The cost of installing a solar system in Mount Sterling can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,650. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Mount Sterling, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, 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 considerably.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Mount Sterling is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different costs.Additionally, some companies in Mount Sterling have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $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 a large number of companies available in Mount Sterling, 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:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 certain factors like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 install between 20 and 35 panels to cover 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.