Solar Panel Cost Guide in Pikeville, KY (2024 Update)
- Pikeville Solar Installation Cost: $24,954
- 25-Year Savings: $28,116
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Pikeville
Let’s take a look at the average cost of solar panels in Pikeville.
While the national average of solar panels is $2.66 per watt, solar panels in Pikeville typically cost around 4.The average solar panel system size in Pikeville is around 9.8 kilowatts, meaning a cost of about $24,954 for a solar installation, or $35,684 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 panel system. The actual cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.Despite the high initial cost, the average Pikeville homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Pikeville
| Year | Return on Investment |
|---|---|
| 1 years | $-23,406 |
| 3 years | $-20,308 |
| 5 years | $-17,211 |
| 7 years | $-14,113 |
| 9 years | $-11,016 |
| 11 years | $-7,918 |
| 13 years | $-4,821 |
| 15 years | $-1,724 |
| 17 years | $1,374 |
| 19 years | $4,471 |
| 21 years | $7,569 |
| 23 years | $10,666 |
| 25 years | $13,764 |
Top Solar Installers in Pikeville
Although it's possible to install solar panels on your own, it takes extra effort and expertise. For that reason, the majority of homeowners choose to hire a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you’d like to go solar but still aren’t certain which solar panel installer to go with, here are our recommendations for providers near you:
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 Pikeville
Factors that Affect Solar Panel Costs in Pikeville
While the average cost of a solar system in Pikeville is $24,954, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
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. For that reason, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Pikeville offer solar loans, which reduce the initial cost of installing a solar system.While solar loans make switching to solar energy more accessible for Pikeville homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies in Pikeville, and each can charge different amounts for labor and equipment.Additionally, some companies in Pikeville are more knowledgeable 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 help you save 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 | $11,157 | 14.7 years |
| 8 kW | $3.72 | $20,849 | $15,285 | 14.4 years |
| 10 kW | $3.65 | $25,550 | $19,617 | 14.1 years |
| 12 kW | $3.58 | $30,047 | $24,154 | 13.9 years |
| 14 kW | $3.50 | $34,339 | $28,895 | 13.6 years |
| 16 kW | $3.43 | $38,427 | $33,840 | 13.3 years |
| 18 kW | $3.36 | $42,311 | $38,990 | 13.0 years |
| 20 kW | $3.29 | $45,990 | $44,344 | 12.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Pikeville, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Before signing a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
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 Pikeville, KY Solar Cost FAQs
What is the average cost of installing solar panels in Pikeville?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Pikeville?
You can’t get solar panels for free in Pikeville. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Solar panels can be a great investment for many 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 reasonably low, solar panels might not be for you.
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 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.