Solar Panel Cost Guide in Lebanon, KY (2023 Update)
- Lebanon Solar Installation Cost: $24,470
- 25-Year Savings: $21,633
- Payback Period: 16.4 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Lebanon
See how much it might cost to make the switch to solar in Lebanon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lebanon, the average cost of solar panels is 4 per watt.The average solar panel system size in Lebanon is around 9.6 kilowatts, meaning a cost of about $24,470 for a solar installation, or $34,992 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Lebanon based on several factors, such as the type of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on utility bills.
Click the button below to get connected to a vetted solar company in Lebanon for a personalized estimate.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-23,091 |
| 3 years | $-20,334 |
| 5 years | $-17,576 |
| 7 years | $-14,818 |
| 9 years | $-12,060 |
| 11 years | $-9,302 |
| 13 years | $-6,545 |
| 15 years | $-3,787 |
| 17 years | $-1,029 |
| 19 years | $1,729 |
| 21 years | $4,486 |
| 23 years | $7,244 |
| 25 years | $10,002 |
Top Solar Installers in Lebanon
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Using an installer can make switching to solar power much easier. Another advantage of working with a solar company is that they can help you maximize your investment by reducing your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Lebanon
Factors that Affect Solar Panel Costs in Lebanon
There are many factors that can influence 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
When it comes to estimating the cost of a solar energy system in Lebanon, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.The brand of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Lebanon have solar loans, which reduce your upfront costs of installing a solar system.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 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 securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Lebanon, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $7,437 | 17.0 years |
| 8 kW | $3.72 | $20,849 | $10,325 | 16.7 years |
| 10 kW | $3.65 | $25,550 | $13,417 | 16.4 years |
| 12 kW | $3.58 | $30,047 | $16,714 | 16.1 years |
| 14 kW | $3.50 | $34,339 | $20,215 | 15.7 years |
| 16 kW | $3.43 | $38,427 | $23,920 | 15.4 years |
| 18 kW | $3.36 | $42,311 | $27,830 | 15.1 years |
| 20 kW | $3.29 | $45,990 | $31,944 | 14.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose considerably affects your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you’re concerned about the endurance of your solar energy system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
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 Lebanon, KY Solar Cost FAQs
What is the average cost of installing solar panels in Lebanon?
The average cost of solar panels in Lebanon 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Lebanon?
A solar panel system isn’t free in Lebanon, but there are some options that can make getting them more feasible, 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 Lebanon?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Lebanon?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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.