Solar Panel Cost Guide in Flatwoods, KY (2024 Update)
- Flatwoods Solar Installation Cost: $24,823
- 25-Year Savings: $28,347
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Flatwoods
Find out how much it might cost to install solar panels in Flatwoods.
The national average cost of solar panels is $2.66 per watt, but in Flatwoods it’s 4 per watt.To account for the typical energy usage of the average home in Flatwoods, most homeowners require a 9.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $24,823, or $35,497 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar panels you want, your solar contractor and more.Even with the high upfront cost, the average Flatwoods homeowner can save about $17,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Flatwoods
| Year | Return on Investment |
|---|---|
| 1 years | $-23,275 |
| 3 years | $-20,177 |
| 5 years | $-17,080 |
| 7 years | $-13,982 |
| 9 years | $-10,885 |
| 11 years | $-7,787 |
| 13 years | $-4,690 |
| 15 years | $-1,593 |
| 17 years | $1,505 |
| 19 years | $4,602 |
| 21 years | $7,700 |
| 23 years | $10,797 |
| 25 years | $13,895 |
Top Solar Installers in Flatwoods
Many homeowners decide to use a solar panel installer since trying to put up solar panels on your own can be hard. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our recommendations for providers nearby:
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
For many Flatwoods homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Flatwoods, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need, 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 solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Flatwoods average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Flatwoods, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the total 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence your pricing. Flatwoods’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $11,390 | 14.6 years |
| 8 kW | $3.72 | $20,849 | $15,596 | 14.3 years |
| 10 kW | $3.65 | $25,550 | $20,006 | 14.0 years |
| 12 kW | $3.58 | $30,047 | $24,620 | 13.7 years |
| 14 kW | $3.50 | $34,339 | $29,439 | 13.5 years |
| 16 kW | $3.43 | $38,427 | $34,462 | 13.2 years |
| 18 kW | $3.36 | $42,311 | $39,690 | 12.9 years |
| 20 kW | $3.29 | $45,990 | $45,122 | 12.6 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Flatwoods, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- 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 how long it will take.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which kind 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 options before deciding.
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?
The average cost of solar panels in Flatwoods 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t opt 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 a solar system."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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.