Solar Panel Cost Guide in Flatwoods, KY (2023 Update)
- Flatwoods Solar Installation Cost: $15,914
- 25-Year Savings: $28,347
- Payback Period: 9.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Flatwoods
We go over average solar pricing in Flatwoods.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Flatwoods, the typical cost of solar panels is 2.34 per watt. The average solar panel system size in Flatwoods is around 9.7 kilowatts, meaning a cost of about $15,921 for a solar installation, or $22,767 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Flatwoods homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $17,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar company in Flatwoods that can help you get a more accurate cost estimate for your home.
Solar savings over time in Flatwoods
| Year | Return on Investment |
|---|---|
| 1 years | $-14,365 |
| 3 years | $-11,268 |
| 5 years | $-8,171 |
| 7 years | $-5,073 |
| 9 years | $-1,976 |
| 11 years | $1,122 |
| 13 years | $4,219 |
| 15 years | $7,317 |
| 17 years | $10,414 |
| 19 years | $13,512 |
| 21 years | $16,609 |
| 23 years | $19,706 |
| 25 years | $22,804 |
Top Solar Installers in Flatwoods
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with an installer can make your swap to solar power much easier. The payback period of solar panels will vary based on factors like your roof configuration and energy use, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
If you're searching for a solar installer in Flatwoods, the EcoWatch team has organized 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 Flatwoods
Factors that Affect Solar Panel Costs in Flatwoods
There are several criteria that can play into your total 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 energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,340. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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 power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Flatwoods average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Flatwoods, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Flatwoods, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Flatwoods have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $2.43 | $10,221 | $17,112 | 9.3 years |
| 8 kW | $2.39 | $13,366 | $23,079 | 9.2 years |
| 10 kW | $2.34 | $16,380 | $29,176 | 9.0 years |
| 12 kW | $2.29 | $19,263 | $35,404 | 8.8 years |
| 14 kW | $2.25 | $22,015 | $41,764 | 8.6 years |
| 16 kW | $2.20 | $24,636 | $48,254 | 8.4 years |
| 18 kW | $2.15 | $27,125 | $54,876 | 8.3 years |
| 20 kW | $2.11 | $29,484 | $61,628 | 8.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose considerably affects your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
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 Flatwoods, KY Solar Cost FAQs
What is the average cost of installing solar panels in Flatwoods?
This is a difficult question to answer precisely, 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Flatwoods?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Flatwoods?
The majority of states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces 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.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 house 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.