Solar Panel Cost Guide in Hazard, KY (2024 Update)
- Hazard Solar Installation Cost: $24,787
- 25-Year Savings: $28,370
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Hazard
Let’s take a look at the average cost of solar in Hazard.
The average cost of a solar panel system in Hazard is 4 per watt.The average Hazard homeowner needs a 9.7-kilowatt system, which would cost about $24,787 with the federal tax credit, or $35,445 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary based on several factors, such as what size system you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront investment in solar is worth paying. On average Hazard homeowners see about $17,000 in savings on energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hazard
| Year | Return on Investment |
|---|---|
| 1 years | $-23,238 |
| 3 years | $-20,141 |
| 5 years | $-17,043 |
| 7 years | $-13,946 |
| 9 years | $-10,848 |
| 11 years | $-7,751 |
| 13 years | $-4,653 |
| 15 years | $-1,556 |
| 17 years | $1,542 |
| 19 years | $4,639 |
| 21 years | $7,737 |
| 23 years | $10,834 |
| 25 years | $13,931 |
Top Solar Installers in Hazard
Although you can install solar panels yourself, it involves extra labor and know-how. That's one of the reasons most homeowners choose to hire a solar panel installer. Another upside of utilizing a solar installer is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
If you're looking for a solar company in Hazard, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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 Hazard
Factors that Affect Solar Panel Costs in Hazard
There are several criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Hazard provide solar loans, which reduce your upfront costs of installing solar.Although solar loans make adopting solar energy more accessible for Hazard homeowners, they can also increase 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
Finally, the company you get to install your solar panels can influence your pricing. Hazard’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 offering 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 | $11,431 | 14.6 years |
| 8 kW | $3.72 | $20,849 | $15,650 | 14.3 years |
| 10 kW | $3.65 | $25,550 | $20,073 | 14.0 years |
| 12 kW | $3.58 | $30,047 | $24,701 | 13.7 years |
| 14 kW | $3.50 | $34,339 | $29,534 | 13.4 years |
| 16 kW | $3.43 | $38,427 | $34,570 | 13.2 years |
| 18 kW | $3.36 | $42,311 | $39,811 | 12.9 years |
| 20 kW | $3.29 | $45,990 | $45,257 | 12.6 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
Best National Provider
SunPower
- 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
- 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 Hazard, KY Solar Cost FAQs
What is the average cost of installing solar panels in Hazard?
The average cost of solar panels in Hazard 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 kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Hazard, that will require at least a 10-kW system. Not all homes will have the roof space for 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 how much 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 buy 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.