Solar Panel Cost Guide in Fort Thomas, KY (2024 Update)

  • Fort Thomas Solar Installation Cost: $24,826
  • 25-Year Savings: $15,909
  • Payback Period: 19.5 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

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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

Let’s take a look at the average cost of solar panels in Fort Thomas.

Although the national average of solar panels is $2.66 per watt, solar panels in Fort Thomas typically cost about 4.The average Fort Thomas homeowner needs a 9.7-kilowatt system, which would cost about $24,826 with the federal tax credit, or $35,501 before the 0 tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar system you choose, your solar contractor and more.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Fort Thomas see 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 $-23,632
3 years $-21,242
5 years $-18,853
7 years $-16,464
9 years $-14,075
11 years $-11,685
13 years $-9,296
15 years $-6,907
17 years $-4,518
19 years $-2,128
21 years $261
23 years $2,650
25 years $5,040

Top Solar Installers in Fort Thomas

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar panel installer can make converting to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.

If you're on the hunt for a solar company in Fort Thomas, the EcoWatch team has organized a list of our top suggestions here:

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

The cost of installing a solar system in Fort Thomas can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

The size of the solar panel system you need to offset your energy usage, 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 $3,650. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install 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 a solar system out of pocket is difficult, solar loans are an affordable choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to 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 getting a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

Finally, the company you opt for to install your solar system can influence your pricing. Fort Thomas’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 $3,708 20.3 years
8 kW $3.72 $20,849 $5,353 19.9 years
10 kW $3.65 $25,550 $7,202 19.5 years
12 kW $3.58 $30,047 $9,256 19.1 years
14 kW $3.50 $34,339 $11,514 18.7 years
16 kW $3.43 $38,427 $13,977 18.3 years
18 kW $3.36 $42,311 $16,644 17.9 years
20 kW $3.29 $45,990 $19,515 17.6 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:

  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
  • Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
  • Installation Process: When making the switch to solar energy, it’s essential to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the completion timeline.

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?

This is a difficult question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Fort Thomas?

Solar panels aren’t free in Fort Thomas, 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.

How will having solar panels impact the value of my home?

Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t go 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."

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy consumption and the average daily 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 account for 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.

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