Solar Panel Cost Guide in Erlanger, KY (Mar 2023)
- Erlanger Solar Installation Cost: $15,856
- 25-Year Savings: $20,529
- Payback Period: 10.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Erlanger
Find out what the average cost of solar panels are in Erlanger.
The national average cost of solar panels is $2.66 per watt, but in Erlanger it's 2.34 per watt. To cover the typical energy usage of the average home in Erlanger, most homeowners require a 9.7-kilowatt system. Using the figure above, a solar installation costs around $15,856, or $22,674 before the federal solar tax credit of 30% is applied.
These figures are just averages, and your own solar costs may look different based on your energy needs and what company you want to go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on electricity bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Erlanger
| Year | Return on Investment |
|---|---|
| 1 years | $-14,400 |
| 3 years | $-11,490 |
| 5 years | $-8,579 |
| 7 years | $-5,668 |
| 9 years | $-2,757 |
| 11 years | $153 |
| 13 years | $3,064 |
| 15 years | $5,975 |
| 17 years | $8,886 |
| 19 years | $11,796 |
| 21 years | $14,707 |
| 23 years | $17,618 |
| 25 years | $20,529 |
Top Solar Installers in Erlanger
Many homeowners opt for a solar installer since figuring out how to install solar panels on your own can be hard. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
For many Erlanger homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Erlanger, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,340 per kilowatt in Erlanger. The brand and type of equipment you choose 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Erlanger homeowners decide to finance their solar panel systems to make going 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original 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 solar company you select will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.43 | $10,221 | $12,333 | 11.3 years |
| 8 kW | $2.39 | $13,366 | $16,706 | 11.1 years |
| 10 kW | $2.34 | $16,380 | $21,210 | 10.9 years |
| 12 kW | $2.29 | $19,263 | $25,845 | 10.7 years |
| 14 kW | $2.25 | $22,015 | $30,611 | 10.5 years |
| 16 kW | $2.20 | $24,636 | $35,508 | 10.2 years |
| 18 kW | $2.15 | $27,125 | $40,536 | 10.0 years |
| 20 kW | $2.11 | $29,484 | $45,695 | 9.8 years |
How to Save on Solar Panels
There are a lot of companies available in Erlanger, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you aren't 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.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- 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 solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Erlanger?
You can't get solar panels for free in Erlanger. However, you may still be able to get 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.
How will solar panels impact my property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.