Solar Panel Cost Guide in Fort Mitchell, KY (Mar 2023)
- Fort Mitchell Solar Installation Cost: $15,872
- 25-Year Savings: $18,993
- Payback Period: 11.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Fort Mitchell
Find out what the average cost of installing solar panels is in Fort Mitchell.
In Fort Mitchell, solar panels cost about 2.34 per watt on average. The average solar panel system size in Fort Mitchell is around 9.7 kilowatts, meaning a cost of about $15,872 for a solar installation, or $22,697 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary quite a bit based on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with. For most homeowners, the upfront investment in solar is worth paying. On average Fort Mitchell homeowners see about $14,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a 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 | $-14,478 |
| 3 years | $-11,688 |
| 5 years | $-8,899 |
| 7 years | $-6,110 |
| 9 years | $-3,321 |
| 11 years | $-532 |
| 13 years | $2,257 |
| 15 years | $5,047 |
| 17 years | $7,836 |
| 19 years | $10,625 |
| 21 years | $13,414 |
| 23 years | $16,203 |
| 25 years | $18,993 |
Top Solar Installers in Fort Mitchell
Although it's possible to install solar panels on your own, it requires extra time and expertise. That's why most people choose to go with a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Fort Mitchell: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,340. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Fort Mitchell have solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only 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 interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can impact how much you pay. Fort Mitchell's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that offers the products, warranties and services you want and also is within your budget.
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:
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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?
The average cost of solar panels in Fort Mitchell is about $11,700 for a 5-kW system and $23,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Fort Mitchell?
Solar panels aren't free in Fort Mitchell, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Fort Mitchell?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
How long do solar panels last in Fort Mitchell?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.