Solar Panel Cost Guide in Ashland, KY (2023 Update)
- Ashland Solar Installation Cost: $15,930
- 25-Year Savings: $28,331
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ashland
Here's how much it might cost to switch to solar power in Ashland.
In Ashland, solar panels cost about 2.34 per watt on average. Because a 9.7-kW system is needed to cover the energy needs of a typical home in Ashland, the average price of going solar will be about $15,938 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Ashland homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar power is worth paying. On average Ashland homeowners see about $17,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Ashland
| Year | Return on Investment |
|---|---|
| 1 years | $-14,381 |
| 3 years | $-11,284 |
| 5 years | $-8,186 |
| 7 years | $-5,089 |
| 9 years | $-1,991 |
| 11 years | $1,106 |
| 13 years | $4,204 |
| 15 years | $7,301 |
| 17 years | $10,399 |
| 19 years | $13,496 |
| 21 years | $16,593 |
| 23 years | $19,691 |
| 25 years | $22,788 |
Top Solar Installers in Ashland
Many homeowners decide to use a solar installer since installing solar panels by yourself can be a labor-intensive endeavor. The expertise that solar installers provide can be invaluable as well, especially if you aren't sure what brand of solar equipment would be right for your home.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Ashland
Factors that Affect Solar Panel Costs in Ashland
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Ashland: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,340. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Ashland, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Ashland homeowners decide to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. The company's size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of 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 names.
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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: It's important to read through 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 project timeline.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Ashland?
Solar panels aren't free in Ashland, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Ashland?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Ashland?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.