Solar Panel Cost Guide in Winchester, KY (2024 Update)
- Winchester Solar Installation Cost: $24,825
- 25-Year Savings: $9,648
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Winchester
See how much it might cost to go solar in Winchester.
In Winchester, solar panels cost about 4 per watt on average.Because a 9.7-kW system is needed to cover the energy usage of a typical home in Winchester, the average price of going solar will be about $24,825 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Winchester homeowner. The cost 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 $16,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Winchester
| Year | Return on Investment |
|---|---|
| 1 years | $-23,446 |
| 3 years | $-20,688 |
| 5 years | $-17,930 |
| 7 years | $-15,172 |
| 9 years | $-12,415 |
| 11 years | $-9,657 |
| 13 years | $-6,899 |
| 15 years | $-4,141 |
| 17 years | $-1,383 |
| 19 years | $1,374 |
| 21 years | $4,132 |
| 23 years | $6,890 |
| 25 years | $9,648 |
Top Solar Installers in Winchester
Many homeowners opt for a solar installation company since figuring out how to install solar panels by yourself can be time-consuming. The expertise that solar installers provide can be invaluable as well, especially if you aren’t sure what type of solar equipment would be right for your home.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Winchester
Factors that Affect Solar Panel Costs in Winchester
There are many factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Winchester, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Winchester have solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also adds to your overall costs, so it’s crucial to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Winchester know more about local solar incentives and can help you take advantage of 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 | $9,266 | 15.8 years |
| 8 kW | $3.72 | $20,849 | $12,764 | 15.5 years |
| 10 kW | $3.65 | $25,550 | $16,466 | 15.2 years |
| 12 kW | $3.58 | $30,047 | $20,372 | 14.9 years |
| 14 kW | $3.50 | $34,339 | $24,483 | 14.6 years |
| 16 kW | $3.43 | $38,427 | $28,798 | 14.3 years |
| 18 kW | $3.36 | $42,311 | $33,318 | 14.0 years |
| 20 kW | $3.29 | $45,990 | $38,042 | 13.7 years |
How to Save on Solar Panels
The solar company you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Installation Process: Homeowners should understand 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 Winchester, KY Solar Cost FAQs
How much does it cost to install solar panels in Winchester?
This is a difficult question to answer precisely, 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Winchester?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $840.32 per year.
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 requires 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 house 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.