Solar Panel Cost Guide in Central City, KY (2024 Update)
- Central City Solar Installation Cost: $23,944
- 25-Year Savings: $10,970
- Payback Period: 22.7 Years
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Average Cost of Solar Panels in Central City
Find out what the average cost of installing solar panels is in Central City.
The national average cost of solar panels is $2.66 per watt, but in Central City it’s 4 per watt.To cover the typical energy usage of the average home in Central City, most homeowners require a 9.4-kilowatt system. Using the figure above, a solar installation costs around $23,944, or $34,240 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy consumption and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average Central City homeowners see about $11,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Central City that can help you get a more accurate cost estimate for your home.
Solar savings over time in Central City
| Year | Return on Investment |
|---|---|
| 1 years | $-22,565 |
| 3 years | $-19,807 |
| 5 years | $-17,049 |
| 7 years | $-14,292 |
| 9 years | $-11,534 |
| 11 years | $-8,776 |
| 13 years | $-6,018 |
| 15 years | $-3,260 |
| 17 years | $-503 |
| 19 years | $2,255 |
| 21 years | $5,013 |
| 23 years | $7,771 |
| 25 years | $10,528 |
Top Solar Installers in Central City
When making the switch to solar, many homeowners prefer to hire a solar installation company since DIY solar panel installation can be a difficult project. The payback period of solar panels will vary depending on factors like your roof configuration and energy use, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers nearby:
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 Central City
Factors that Affect Solar Panel Costs in Central City
Even though the average cost of a solar system in Central City is $23,944, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Central City average.
Solar Financing Terms
Many homeowners find the average cost of solar in Central City to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time due to interest.While solar loans make going solar more accessible for Central City homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Central City, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have 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 | $908 | 23.7 years |
| 8 kW | $3.72 | $20,849 | $1,620 | 23.2 years |
| 10 kW | $3.65 | $25,550 | $2,536 | 22.7 years |
| 12 kW | $3.58 | $30,047 | $3,656 | 22.3 years |
| 14 kW | $3.50 | $34,339 | $4,981 | 21.8 years |
| 16 kW | $3.43 | $38,427 | $6,510 | 21.4 years |
| 18 kW | $3.36 | $42,311 | $8,244 | 20.9 years |
| 20 kW | $3.29 | $45,990 | $10,182 | 20.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The type of solar panel you’d like to get plays a part in which company you should choose, since different companies offer different panels.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
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 Central City, KY Solar Cost FAQs
How much does it cost to install solar panels in Central City?
This is a difficult question to answer precisely, because the cost depends on a variety of 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will having solar panels impact my home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.