Solar Panel Cost Guide in Lyndon, KY (2024 Update)
- Lyndon Solar Installation Cost: $24,524
- 25-Year Savings: $25,882
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Lyndon
Find out what the average cost of a solar system is in Lyndon.
In Lyndon, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Lyndon, most homeowners require a 9.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $24,524, or $35,069 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Lyndon homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Lyndon see about $17,000 in savings on energy bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lyndon
| Year | Return on Investment |
|---|---|
| 1 years | $-23,055 |
| 3 years | $-20,118 |
| 5 years | $-17,181 |
| 7 years | $-14,243 |
| 9 years | $-11,306 |
| 11 years | $-8,369 |
| 13 years | $-5,431 |
| 15 years | $-2,494 |
| 17 years | $443 |
| 19 years | $3,380 |
| 21 years | $6,318 |
| 23 years | $9,255 |
| 25 years | $12,192 |
Top Solar Installers in Lyndon
Although you can install solar panels yourself, it involves extra effort and know-how. Because of that, almost all homeowners choose a solar panel installer. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Lyndon
Factors that Affect Solar Panel Costs in Lyndon
Even though the average cost of a solar system in Lyndon is $24,524, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.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 opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Lyndon average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Although solar loans make going solar more accessible for Lyndon homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.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 access to 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 | $10,064 | 15.3 years |
| 8 kW | $3.72 | $20,849 | $13,827 | 15.0 years |
| 10 kW | $3.65 | $25,550 | $17,795 | 14.7 years |
| 12 kW | $3.58 | $30,047 | $21,967 | 14.4 years |
| 14 kW | $3.50 | $34,339 | $26,344 | 14.1 years |
| 16 kW | $3.43 | $38,427 | $30,925 | 13.9 years |
| 18 kW | $3.36 | $42,311 | $35,710 | 13.6 years |
| 20 kW | $3.29 | $45,990 | $40,700 | 13.3 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly influences 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: Different companies carry different brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
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 Lyndon, KY Solar Cost FAQs
How much does it cost to install solar panels in Lyndon?
The average cost of solar panels in Lyndon is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $866.90 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.