Solar Panel Cost Guide in Fort Thomas, KY (2023 Update)

  • Fort Thomas Solar Installation Cost: $15,916
  • 25-Year Savings: $15,909
  • Payback Period: 12.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated September 15, 2023

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 Fort Thomas

We break down average solar pricing in Fort Thomas.

In Fort Thomas, solar panels cost about 2.34 per watt on average. The average Fort Thomas homeowner needs a 9.7-kilowatt system, which would cost about $15,921 with the federal tax credit, or $22,767 before the 30% tax credit is applied.

These figures are only averages, and the cost of going solar for you may differ based on your specific situation and what company you want to go with. For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $12,000 in savings on electricity bills over 20 years.

You can click the button below to get connected with a top solar installer in Fort Thomas that can help you get a more accurate cost estimate for your home.

Solar savings over time in Fort Thomas

Year Return on Investment
1 years $-14,721
3 years $-12,332
5 years $-9,943
7 years $-7,554
9 years $-5,164
11 years $-2,775
13 years $-386
15 years $2,003
17 years $4,393
19 years $6,782
21 years $9,171
23 years $11,561
25 years $13,950

Top Solar Installers in Fort Thomas

DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar company can make swapping over to solar power much easier. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.

You can get a free estimate from a local solar installer on the cost of solar panels 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 Fort Thomas

Factors that Affect Solar Panel Costs in Fort Thomas

For many Fort Thomas homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Fort Thomas, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,340. The brand of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Fort Thomas to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time due to interest. You'll have to consider the long-term cost of loans, including the amount of 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

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Fort Thomas is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.

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 $9,430 13.0 years
8 kW $2.39 $13,366 $12,836 12.8 years
10 kW $2.34 $16,380 $16,372 12.5 years
12 kW $2.29 $19,263 $20,040 12.3 years
14 kW $2.25 $22,015 $23,839 12.0 years
16 kW $2.20 $24,636 $27,768 11.8 years
18 kW $2.15 $27,125 $31,829 11.5 years
20 kW $2.11 $29,484 $36,021 11.3 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:

  • Contract: Review the contract terms thoroughly to make sure you understand the total cost, completion timeline rebates and warranties.
  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
  • Solar Panel Brands: The model of solar panel you want to install plays a role in which installer you should go with, since different companies offer different panels.

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 Fort Thomas, KY Solar Cost FAQs

How much does it cost to install solar panels in Fort Thomas?

The average cost of solar panels in Fort Thomas is about $11,700 for a 5-kW system and $23,400 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 use.

Can you get solar panels for free in Fort Thomas?

A solar panel system isn't free in Fort Thomas, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Is it worth going solar in Fort Thomas?

Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.

How many solar panels do I need to power 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 install 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