Solar Panel Cost Guide in Fort Mitchell, KY (2023 Update)
- Fort Mitchell Solar Installation Cost: $15,872
- 25-Year Savings: $18,993
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fort Mitchell
Find out what the average cost of solar panel installation is in Fort Mitchell.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fort Mitchell, the average cost of a solar system is 2.34 per watt. Because a 9.7-kW system is needed to cover the energy consumption of a typical home in Fort Mitchell, the average price of going solar will be about $15,872 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Fort Mitchell homeowner. The cost 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. With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Fort Mitchell find installing solar panels can pay off big.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Fort Mitchell
| Year | Return on Investment |
|---|---|
| 1 years | $-14,677 |
| 3 years | $-12,288 |
| 5 years | $-9,899 |
| 7 years | $-7,510 |
| 9 years | $-5,120 |
| 11 years | $-2,731 |
| 13 years | $-342 |
| 15 years | $2,047 |
| 17 years | $4,437 |
| 19 years | $6,826 |
| 21 years | $9,215 |
| 23 years | $11,605 |
| 25 years | $13,994 |
Top Solar Installers in Fort Mitchell
When switching to solar energy, many homeowners prefer to hire a solar installer since putting up a solar system yourself can be a challenging project. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Fort Mitchell
Factors that Affect Solar Panel Costs in Fort Mitchell
Although the average cost of a solar system in Fort Mitchell is $15,872, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of a solar system in Fort Mitchell, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,340 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Fort Mitchell, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. Although solar loans make going solar more accessible for Fort Mitchell homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Fort Mitchell is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that offer a range of services for different budgets. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $11,367 | 11.8 years |
| 8 kW | $2.39 | $13,366 | $15,418 | 11.6 years |
| 10 kW | $2.34 | $16,380 | $19,600 | 11.4 years |
| 12 kW | $2.29 | $19,263 | $23,913 | 11.2 years |
| 14 kW | $2.25 | $22,015 | $28,357 | 10.9 years |
| 16 kW | $2.20 | $24,636 | $32,933 | 10.7 years |
| 18 kW | $2.15 | $27,125 | $37,639 | 10.5 years |
| 20 kW | $2.11 | $29,484 | $42,476 | 10.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
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 Fort Mitchell, KY Solar Cost FAQs
How much does it cost to install solar panels in Fort Mitchell?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Fort Mitchell?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Fort Mitchell, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 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 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.