Solar Panel Cost Guide in Somerset, KY (2024 Update)

  • Somerset Solar Installation Cost: $24,423
  • 25-Year Savings: $24,160
  • Payback Period: 15.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Somerset

We go over average solar pricing in Somerset.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Somerset, the average cost of a solar system is 4 per watt.The average Somerset homeowner needs a 9.6-kilowatt system, which would cost about $24,423 with the federal tax credit, or $34,925 before the 0 tax credit is applied.

Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you choose, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in Somerset can save around $16,000 on their electricity bills over 20 years.

Click the button below to get connected to a highly rated solar company in your area for a customized quote.

Solar savings over time in Somerset

Year Return on Investment
1 years $-23,056
3 years $-20,322
5 years $-17,587
7 years $-14,853
9 years $-12,119
11 years $-9,385
13 years $-6,651
15 years $-3,917
17 years $-1,182
19 years $1,552
21 years $4,286
23 years $7,020
25 years $9,754

Top Solar Installers in Somerset

Many homeowners opt for a solar panel company since figuring out how to install solar panels on your own can be hard. Another benefit of working with a solar installer is that they can help you maximize your investment by reducing your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.

Working with a vetted solar company can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Somerset

Factors that Affect Solar Panel Costs in Somerset

The cost of installing a solar system in Somerset can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Somerset average.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Somerset, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.

Solar Panel Installation Company

A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Somerset is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that offer a range of services at different costs.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.

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 $9,050 15.9 years
8 kW $3.72 $20,849 $12,475 15.6 years
10 kW $3.65 $25,550 $16,105 15.3 years
12 kW $3.58 $30,047 $19,939 15.0 years
14 kW $3.50 $34,339 $23,977 14.7 years
16 kW $3.43 $38,427 $28,220 14.4 years
18 kW $3.36 $42,311 $32,667 14.1 years
20 kW $3.29 $45,990 $37,319 13.8 years

How to Save on Solar Panels

There are a large number of companies available in Somerset, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:

  • Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
  • Solar Panel Brands: The brand of solar panel you need to get plays a role in which company you should go with, since different companies offer different panels.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
  • Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Somerset, KY Solar Cost FAQs

What is the average cost of installing solar panels in Somerset?

This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to consider when buying solar panels?

Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How much can I save on energy bills after switching to solar?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Somerset, that will require at least a 10-kW system. Not all homes 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.

How long do solar panels last in Somerset?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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.

Follow us