Solar Panel Cost Guide in Berea, KY (2024 Update)
- Berea Solar Installation Cost: $24,649
- 25-Year Savings: $22,900
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Berea
We go over average solar pricing in Berea.
The national average cost of solar panels is $2.66 per watt, but in Berea it’s 4 per watt.To account for the typical energy usage of the average home in Berea, most homeowners require a 9.6-kilowatt system. Using the figure above, a solar installation costs about $24,649, or $35,248 before the federal solar tax credit of 0 is applied.
These figures are only averages, and how much solar costs for you may differ based on your specific situation and what company you want to go with.With typical savings of about $15,000 on power bills over 20 years, many homeowners in Berea find investing in solar can be quite rewarding.
To receive a free quote from a top solar installer in Berea, you can click the button below.
Solar savings over time in Berea
Year | Return on Investment |
---|---|
1 years | $-23,340 |
3 years | $-20,721 |
5 years | $-18,102 |
7 years | $-15,483 |
9 years | $-12,864 |
11 years | $-10,245 |
13 years | $-7,626 |
15 years | $-5,007 |
17 years | $-2,388 |
19 years | $231 |
21 years | $2,850 |
23 years | $5,469 |
25 years | $8,088 |
Top Solar Installers in Berea
Trying to install solar panels on your own can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Berea
Factors that Affect Solar Panel Costs in Berea
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Berea: 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 to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,650. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Berea homeowners decide to finance their solar panel systems to make paying for solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Berea, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $8,127 | 16.6 years |
8 kW | $3.72 | $20,849 | $11,245 | 16.2 years |
10 kW | $3.65 | $25,550 | $14,567 | 15.9 years |
12 kW | $3.58 | $30,047 | $18,093 | 15.6 years |
14 kW | $3.50 | $34,339 | $21,824 | 15.3 years |
16 kW | $3.43 | $38,427 | $25,760 | 15.0 years |
18 kW | $3.36 | $42,311 | $29,899 | 14.6 years |
20 kW | $3.29 | $45,990 | $34,243 | 14.3 years |
How to Save on Solar Panels
There are a lot of companies available in Berea, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in 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
EcoWatch's Berea, KY Solar Cost FAQs
What is the average cost of installing solar panels in Berea?
This is a difficult question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
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 $802.33 per year.
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 how much 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 buy 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.