Solar Panel Cost Guide in Cold Spring, KY (2023 Update)

  • Cold Spring Solar Installation Cost: $24,826
  • 25-Year Savings: $15,909
  • Payback Period: 19.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Cold Spring

Here’s how much it might cost to make the switch to solar in Cold Spring.

The average cost of a solar system in Cold Spring is 4 per watt.The average Cold Spring homeowner needs a 9.7-kilowatt system, which would cost about $24,826 with the federal tax credit, or $35,501 before the 0 tax credit is applied.

The true price you pay can be above or below the average in Cold Spring depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire.With average savings of about $12,000 on power bills over 20 years, many homeowners in Cold Spring find going solar has a decent ROI.

For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Cold Spring

Year Return on Investment
1 years $-23,632
3 years $-21,242
5 years $-18,853
7 years $-16,464
9 years $-14,075
11 years $-11,685
13 years $-9,296
15 years $-6,907
17 years $-4,518
19 years $-2,128
21 years $261
23 years $2,650
25 years $5,040

Top Solar Installers in Cold Spring

Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be a lot of work. Local solar installers can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.

If you're looking for a solar installer in Cold Spring, the EcoWatch team has compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Cold Spring

Factors that Affect Solar Panel Costs in Cold Spring

There are a number of factors 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

One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $3,650 per kilowatt in Cold Spring.There are a lot of different solar panel brands and the one you pick also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Cold Spring, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.When considering 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 reduce the total interest paid over time.

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 Cold Spring, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 $3,708 20.3 years
8 kW $3.72 $20,849 $5,353 19.9 years
10 kW $3.65 $25,550 $7,202 19.5 years
12 kW $3.58 $30,047 $9,256 19.1 years
14 kW $3.50 $34,339 $11,514 18.7 years
16 kW $3.43 $38,427 $13,977 18.3 years
18 kW $3.36 $42,311 $16,644 17.9 years
20 kW $3.29 $45,990 $19,515 17.6 years

How to Save on Solar Panels

The solar panel company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:

  • Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
  • Installation Process: When making the switch to solar energy, it’s necessary to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project timeline.
  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Cold Spring, KY Solar Cost FAQs

How much does it cost to install solar panels in Cold Spring?

The average cost of solar panels in Cold Spring is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Cold Spring?

You can’t get solar panels for free in Cold Spring. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.

Can you sell solar power back to the grid in Cold Spring?

Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Cold Spring?

Even 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 how much energy they produce will have decreased significantly after that point. You can 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.

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