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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Berea, the average cost of a solar system is 4 per watt.To cover the typical energy needs 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.
Bear in mind that the figures above are only estimates based on the average Berea homeowner. 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 cost of solar panels is worth paying. On average homeowners in Berea see about $15,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, 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
Many homeowners decide to use a solar installer since trying to put up solar panels yourself can be challenging. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Berea
Factors that Affect Solar Panel Costs in Berea
There are a number of criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of a solar system in Berea, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Berea, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.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 finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Berea, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to 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 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 | $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 solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: The model of solar panel you’d like to install plays a part in which company you should opt for, since different companies have different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Berea, KY Solar Cost FAQs
How much does it cost to install solar panels in Berea?
The average cost of solar panels in Berea is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can 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 get 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.