Solar Panel Cost Guide in Lebanon, KY (Mar 2023)
- Lebanon Solar Installation Cost: $15,692
- 25-Year Savings: $21,628
- Payback Period: 10.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lebanon
We go over average solar pricing in Lebanon.
The average cost of a solar system in Lebanon is 2.34 per watt. To cover the typical energy usage of the average home in Lebanon, most homeowners require a 9.6-kilowatt system. Using the figure above, a solar installation costs around $15,692, or $22,440 before the federal solar tax credit of 30% is applied.
How much you pay can be higher or lower than the average in Lebanon depending on several factors, such as the model of solar panels you choose and the solar company you hire. For most homeowners, the upfront cost of solar power is worth paying. On average Lebanon homeowners see about $15,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar company in Lebanon for a quote for your home.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-14,199 |
| 3 years | $-11,214 |
| 5 years | $-8,228 |
| 7 years | $-5,242 |
| 9 years | $-2,257 |
| 11 years | $729 |
| 13 years | $3,715 |
| 15 years | $6,700 |
| 17 years | $9,686 |
| 19 years | $12,672 |
| 21 years | $15,657 |
| 23 years | $18,643 |
| 25 years | $21,628 |
Top Solar Installers in Lebanon
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring an installer can make swapping over to solar power much easier. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our suggestions for providers nearby:
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 Lebanon
Factors that Affect Solar Panel Costs in Lebanon
There are a number of criteria that can determine 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 going solar. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Lebanon average.
Solar Financing Terms
Most solar installers in Lebanon offer solar loans, which reduce the initial cost of installing a solar system. 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 APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a part in determining your pricing. Lebanon's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $13,159 | 10.9 years |
| 8 kW | $2.39 | $13,366 | $17,808 | 10.7 years |
| 10 kW | $2.34 | $16,380 | $22,587 | 10.5 years |
| 12 kW | $2.29 | $19,263 | $27,498 | 10.3 years |
| 14 kW | $2.25 | $22,015 | $32,539 | 10.1 years |
| 16 kW | $2.20 | $24,636 | $37,712 | 9.9 years |
| 18 kW | $2.15 | $27,125 | $43,016 | 9.7 years |
| 20 kW | $2.11 | $29,484 | $48,450 | 9.5 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 choosing a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
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 Lebanon, KY Solar Cost FAQs
How much does it cost to install solar panels in Lebanon?
The average cost of solar panels in Lebanon 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 like 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 Lebanon?
You can't get solar panels for free in Lebanon. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lebanon is currently $106,700, which means you could be looking at a value of about $4,375 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lebanon is a fruitful investment.
What solar power system size is right for 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 take a 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 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.