Solar Panel Cost Guide in Cynthiana, KY (2024 Update)
- Cynthiana Solar Installation Cost: $24,692
- 25-Year Savings: $22,926
- Payback Period: 15.9 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Cynthiana
See how much it might cost to install solar panels in Cynthiana.
While the national average of solar panels is $2.66 per watt, solar panels in Cynthiana generally cost around 4.To account for the typical energy needs of the average home in Cynthiana, most homeowners require a 9.7-kilowatt system. Using the figure above, a solar installation costs about $24,692, or $35,310 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Cynthiana homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Cynthiana find investing in solar can be quite rewarding.
To get a free estimate from a vetted solar installer in Cynthiana, you can click the button below.
Solar savings over time in Cynthiana
Year | Return on Investment |
---|---|
1 years | $-23,313 |
3 years | $-20,555 |
5 years | $-17,797 |
7 years | $-15,039 |
9 years | $-12,282 |
11 years | $-9,524 |
13 years | $-6,766 |
15 years | $-4,008 |
17 years | $-1,251 |
19 years | $1,507 |
21 years | $4,265 |
23 years | $7,023 |
25 years | $9,781 |
Top Solar Installers in Cynthiana
Many homeowners opt for a solar installation company since figuring out how to install solar panels on your own can be challenging. Solar warranties and repairs are often included in the cost of installation when you hire a solar contractor too, which can save you more money after your initial investment.
If you're searching for a solar company in Cynthiana, we've compiled a list of our top suggestions here:
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 Cynthiana
Factors that Affect Solar Panel Costs in Cynthiana
There are several criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 greater 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
Most solar companies in Cynthiana offer solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also adds to your all-in costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can play a part in determining how much it costs. Cynthiana’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to 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 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 | $8,118 | 16.6 years |
8 kW | $3.72 | $20,849 | $11,233 | 16.2 years |
10 kW | $3.65 | $25,550 | $14,553 | 15.9 years |
12 kW | $3.58 | $30,047 | $18,076 | 15.6 years |
14 kW | $3.50 | $34,339 | $21,804 | 15.3 years |
16 kW | $3.43 | $38,427 | $25,737 | 15.0 years |
18 kW | $3.36 | $42,311 | $29,874 | 14.7 years |
20 kW | $3.29 | $45,990 | $34,215 | 14.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: The model of solar panel you’d like to install plays a part in which installer you should go with, since different companies provide 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 Cynthiana, KY Solar Cost FAQs
What is the average cost of installing solar panels in Cynthiana?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Cynthiana?
You can’t get solar panels for free in Cynthiana. 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 want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Cynthiana?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.