Solar Panel Cost Guide in Ashland, KY (Mar 2023)
- Ashland Solar Installation Cost: $15,938
- 25-Year Savings: $28,323
- Payback Period: 9.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Ashland
Find out how much it might cost to install solar panels in Ashland.
While the national average of solar panels is $2.66 per watt, solar panels in Ashland typically cost about 2.34. The average solar panel system size in Ashland is around 9.7 kilowatts, meaning a cost of about $15,938 for a solar installation, or $22,791 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will vary based on the amount of energy your home requires and what company you choose to go with. Even with the high upfront cost, the average Ashland homeowner can save about $17,000 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 vetted solar installer in Ashland for a quote for your home.
Solar savings over time in Ashland
| Year | Return on Investment |
|---|---|
| 1 years | $-14,167 |
| 3 years | $-10,626 |
| 5 years | $-7,086 |
| 7 years | $-3,545 |
| 9 years | $-4 |
| 11 years | $3,537 |
| 13 years | $7,078 |
| 15 years | $10,619 |
| 17 years | $14,160 |
| 19 years | $17,700 |
| 21 years | $21,241 |
| 23 years | $24,782 |
| 25 years | $28,323 |
Top Solar Installers in Ashland
Many homeowners choose to hire a solar panel company since installing solar panels yourself can be a lot of work. Also, companies with a good reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're on the hunt for a solar company in Ashland, we've organized a list of our top suggestions here:
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 Ashland
Factors that Affect Solar Panel Costs in Ashland
There are several criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of solar panels in Ashland, 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 gauge by looking at past energy bills. Your overall cost can increase by about $2,340 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Ashland offer solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also adds to your total costs, so it's important to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Ashland is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that provide a range of services at different costs. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and better 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 discount 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 | $2.43 | $10,221 | $17,086 | 9.4 years |
| 8 kW | $2.39 | $13,366 | $23,043 | 9.2 years |
| 10 kW | $2.34 | $16,380 | $29,131 | 9.0 years |
| 12 kW | $2.29 | $19,263 | $35,351 | 8.8 years |
| 14 kW | $2.25 | $22,015 | $41,701 | 8.6 years |
| 16 kW | $2.20 | $24,636 | $48,183 | 8.5 years |
| 18 kW | $2.15 | $27,125 | $54,795 | 8.3 years |
| 20 kW | $2.11 | $29,484 | $61,539 | 8.1 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts 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 likely has a good reputation and is qualified to do the job well. Another way you can research 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 (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 Ashland, KY Solar Cost FAQs
What is the average cost of installing solar panels in Ashland?
The average cost of solar panels in Ashland is about $11,700 for a 5-kW system and $23,400 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind 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 Ashland?
Leasing solar panels can be an attractive choice, as it often 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $910.23 per year.
How long do solar panels last in Ashland?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.