Solar Panel Cost Guide in Alexandria, KY (Mar 2023)
- Alexandria Solar Installation Cost: $15,921
- 25-Year Savings: $18,943
- Payback Period: 11.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Alexandria
Let's have a look at the average cost of solar in Alexandria.
The national average cost of solar panels is $2.66 per watt, but in Alexandria it's 2.34 per watt. Using this figure, a typical 9.7-kW system would cost about $15,921 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Alexandria homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Alexandria can save around $14,000 on their electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Alexandria
| Year | Return on Investment |
|---|---|
| 1 years | $-14,527 |
| 3 years | $-11,738 |
| 5 years | $-8,948 |
| 7 years | $-6,159 |
| 9 years | $-3,370 |
| 11 years | $-581 |
| 13 years | $2,208 |
| 15 years | $4,997 |
| 17 years | $7,787 |
| 19 years | $10,576 |
| 21 years | $13,365 |
| 23 years | $16,154 |
| 25 years | $18,943 |
Top Solar Installers in Alexandria
Many homeowners decide to use a solar panel company since installing solar panels on your own can be a lot of work. Some solar installers, especially local ones, can help you make the most of incentives in Alexandria, therefore optimizing your ROI.
If you'd like to switch to solar energy but still aren't certain which solar system installer 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 (coming 2022)
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
The cost of installing a solar system in Alexandria can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,340 per kilowatt in Alexandria. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Alexandria offer solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Alexandria, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.43 | $10,221 | $11,307 | 11.9 years |
| 8 kW | $2.39 | $13,366 | $15,338 | 11.6 years |
| 10 kW | $2.34 | $16,380 | $19,501 | 11.4 years |
| 12 kW | $2.29 | $19,263 | $23,794 | 11.2 years |
| 14 kW | $2.25 | $22,015 | $28,218 | 11.0 years |
| 16 kW | $2.20 | $24,636 | $32,773 | 10.7 years |
| 18 kW | $2.15 | $27,125 | $37,460 | 10.5 years |
| 20 kW | $2.11 | $29,484 | $42,277 | 10.3 years |
How to Save on Solar Panels
There are numerous companies to choose from in Alexandria, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Look through the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
How much does it cost to install solar panels in Alexandria?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Alexandria?
You can't get solar panels for free in Alexandria. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Alexandria is currently $180,922, which means you can look forward to a value of about $7,418 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Alexandria is a fruitful investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses 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 home 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.