Solar Panel Cost Guide in Erlanger, KY (2024 Update)
- Erlanger Solar Installation Cost: $24,731
- 25-Year Savings: $5,135
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Erlanger
See how much it might cost to make the switch to solar in Erlanger.
The national average cost of solar panels is $2.66 per watt, but in Erlanger it’s 4 per watt.The average Erlanger homeowner needs a 9.7-kilowatt system, which would cost about $24,731 with the federal tax credit, or $35,365 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Erlanger 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 most homeowners, the upfront investment in solar panels is worth paying. On average Erlanger homeowners see about $14,000 in savings on utility bills over 20 years.
To get a free estimate from a pre-vetted solar company in Erlanger, you can click the button below.
Solar savings over time in Erlanger
| Year | Return on Investment |
|---|---|
| 1 years | $-23,536 |
| 3 years | $-21,147 |
| 5 years | $-18,757 |
| 7 years | $-16,368 |
| 9 years | $-13,979 |
| 11 years | $-11,590 |
| 13 years | $-9,200 |
| 15 years | $-6,811 |
| 17 years | $-4,422 |
| 19 years | $-2,032 |
| 21 years | $357 |
| 23 years | $2,746 |
| 25 years | $5,135 |
Top Solar Installers in Erlanger
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make switching to solar power much easier. Another great thing about using a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you're looking for a solar company in Erlanger, we've put together a list of our top suggestions here:
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 Erlanger
Factors that Affect Solar Panel Costs in Erlanger
There are many factors that can play into your solar system 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 size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,650. The model of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Most solar installers in Erlanger provide solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Erlanger, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Erlanger have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $6,611 | 17.7 years |
| 8 kW | $3.72 | $20,849 | $9,223 | 17.3 years |
| 10 kW | $3.65 | $25,550 | $12,040 | 17.0 years |
| 12 kW | $3.58 | $30,047 | $15,061 | 16.7 years |
| 14 kW | $3.50 | $34,339 | $18,286 | 16.3 years |
| 16 kW | $3.43 | $38,427 | $21,716 | 16.0 years |
| 18 kW | $3.36 | $42,311 | $25,351 | 15.6 years |
| 20 kW | $3.29 | $45,990 | $29,189 | 15.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
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 Erlanger, KY Solar Cost FAQs
How much does it cost to install solar panels in Erlanger?
This is a tough question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 install 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.