Solar Panel Cost Guide in Alexandria, KY (2024 Update)
- Alexandria Solar Installation Cost: $24,826
- 25-Year Savings: $18,949
- Payback Period: 17.8 Years
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Average Cost of Solar Panels in Alexandria
Find out what the average cost of solar panels are in Alexandria.
In Alexandria, solar panels cost about 4 per watt on average.The average solar panel system size in Alexandria is around 9.7 kilowatts, meaning a cost of about $24,826 for a solar installation, or $35,501 before the 0 federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you will differ based on your energy needs and what company you want to go with.Even with the high upfront cost, the average Alexandria homeowner can save around $14,000 on their electricity bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a pre-vetted solar installer in Alexandria that can help you get a more accurate cost estimate for your home.
Solar savings over time in Alexandria
| Year | Return on Investment |
|---|---|
| 1 years | $-23,632 |
| 3 years | $-21,242 |
| 5 years | $-18,853 |
| 7 years | $-16,464 |
| 9 years | $-14,075 |
| 11 years | $-11,685 |
| 13 years | $-9,296 |
| 15 years | $-6,907 |
| 17 years | $-4,518 |
| 19 years | $-2,128 |
| 21 years | $261 |
| 23 years | $2,650 |
| 25 years | $5,040 |
Top Solar Installers in Alexandria
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make switching to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money over time.
If you’d like to switch to solar energy but still aren’t sure which solar panel company to go with, here are our suggestions for providers in Alexandria:
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 Alexandria
Factors that Affect Solar Panel Costs in Alexandria
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Alexandria: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
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, your total will most likely increase by nearly $3,650. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Alexandria, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Alexandria is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets.The company’s size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing 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 | $5,585 | 18.5 years |
| 8 kW | $3.72 | $20,849 | $7,856 | 18.2 years |
| 10 kW | $3.65 | $25,550 | $10,331 | 17.8 years |
| 12 kW | $3.58 | $30,047 | $13,010 | 17.4 years |
| 14 kW | $3.50 | $34,339 | $15,894 | 17.1 years |
| 16 kW | $3.43 | $38,427 | $18,982 | 16.7 years |
| 18 kW | $3.36 | $42,311 | $22,274 | 16.4 years |
| 20 kW | $3.29 | $45,990 | $25,771 | 16.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- 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 most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
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 Alexandria, KY Solar Cost FAQs
What is the average cost of installing solar panels in Alexandria?
The average cost of solar panels in Alexandria 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 use.
Is it better to lease or buy solar panels in Alexandria?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside 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 option if you want to get the most savings.
Does Alexandria have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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.