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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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.The average Flatwoods homeowner needs a 9.7-kilowatt system, which would cost about $24,823 with the federal tax credit, or $35,497 before the 0 tax credit is applied.

These figures are just averages, and how much solar costs for you will most likely differ based on your energy needs and what company you choose to go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.

To receive a free quote from a vetted solar company in Flatwoods, you can 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 opt for a solar panel company since trying to put up solar panels by yourself can be time-consuming. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.

You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

The cost of installing a solar system in Flatwoods can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,650. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Flatwoods average.

Solar Financing Terms

If paying for solar panels in cash is difficult, solar loans are a popular route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.

Solar Panel Installation Company

The final significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Flatwoods, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 lot of companies to choose from in Flatwoods, 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:

  • Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
  • Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
  • Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

How much does it cost to install solar panels in Flatwoods?

This is a difficult question to answer exactly, because the cost depends on a few different 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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

What other factors should I consider other than cost when buying solar panels?

Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How will solar panels impact how much my home is worth?

Solar panels can increase your property’s value remarkably 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 solar panels."

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a 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 get 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.

Follow us