Solar Panel Cost Guide in Fort Mitchell, KY (2024 Update)
- Fort Mitchell Solar Installation Cost: $24,758
- 25-Year Savings: $18,993
- Payback Period: 17.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Fort Mitchell
Let’s take a look at the average cost of solar in Fort Mitchell.
In Fort Mitchell, solar panels cost about 4 per watt on average.The average solar panel system size in Fort Mitchell is around 9.7 kilowatts, meaning a cost of about $24,758 for a solar installation, or $35,404 before the 0 federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you may look different based on your specific situation and what company you want to go with.Despite the large initial cost, the average Fort Mitchell homeowner can save around $14,000 on their energy bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a pre-vetted solar installer in Fort Mitchell that can help you get a more accurate cost estimate for your home.
Solar savings over time in Fort Mitchell
| Year | Return on Investment |
|---|---|
| 1 years | $-23,563 |
| 3 years | $-21,174 |
| 5 years | $-18,785 |
| 7 years | $-16,395 |
| 9 years | $-14,006 |
| 11 years | $-11,617 |
| 13 years | $-9,227 |
| 15 years | $-6,838 |
| 17 years | $-4,449 |
| 19 years | $-2,060 |
| 21 years | $330 |
| 23 years | $2,719 |
| 25 years | $5,108 |
Top Solar Installers in Fort Mitchell
When switching to solar energy, many homeowners prefer to go with a solar company since handling can be a time-consuming project. Another great thing about using a reliable solar installer is that it'll provide warranties and free repairs, which help protect your investment.
If you're on the hunt for a solar installer in Fort Mitchell, the EcoWatch team has compiled 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 Fort Mitchell
Factors that Affect Solar Panel Costs in Fort Mitchell
Although the average cost of a solar system in Fort Mitchell is $24,758, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar system you need for your home, 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. There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over five to seven years on average.While solar loans make going solar more accessible for Fort Mitchell homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can influence how much you pay. Fort Mitchell’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Fort Mitchell have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $3.80 | $15,943 | $5,645 | 18.5 years |
| 8 kW | $3.72 | $20,849 | $7,935 | 18.1 years |
| 10 kW | $3.65 | $25,550 | $10,430 | 17.8 years |
| 12 kW | $3.58 | $30,047 | $13,129 | 17.4 years |
| 14 kW | $3.50 | $34,339 | $16,033 | 17.0 years |
| 16 kW | $3.43 | $38,427 | $19,141 | 16.7 years |
| 18 kW | $3.36 | $42,311 | $22,453 | 16.3 years |
| 20 kW | $3.29 | $45,990 | $25,970 | 16.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as 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 gold standard in the business, and offering such a warranty is one indication of a good company.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you’d like to get plays a part in which company you should opt for, since different companies have different panels.
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
What is the average cost of installing solar panels in Fort Mitchell?
The average cost of solar panels in Fort Mitchell 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Fort Mitchell?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Fort Mitchell?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels do I need to power 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.