Solar Panel Cost Guide in Maysville, KY (Mar 2023)
- Maysville Solar Installation Cost: $15,954
- 25-Year Savings: $22,674
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Maysville
Let's have a look at the average cost of solar panels in Maysville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Maysville, the typical cost of a solar system is 2.34 per watt. The average Maysville homeowner needs a 9.7-kilowatt system, which would cost about $15,954 with the federal tax credit, or $22,814 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of equipment you choose, your solar contractor and more. But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $15,000 over 20 years on utility bills.
To get a free estimate from a top solar company in Maysville, you can click the button below.
Solar savings over time in Maysville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,409 |
| 3 years | $-11,319 |
| 5 years | $-8,228 |
| 7 years | $-5,138 |
| 9 years | $-2,048 |
| 11 years | $1,042 |
| 13 years | $4,133 |
| 15 years | $7,223 |
| 17 years | $10,313 |
| 19 years | $13,403 |
| 21 years | $16,494 |
| 23 years | $19,584 |
| 25 years | $22,674 |
Top Solar Installers in Maysville
Trying to install solar panels by yourself can be a challenging project, which is why getting a solar installation company is a good option for many homeowners. Another advantage of going with a solar installer is that they can help you make the most of your investment by lowering your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Maysville
Factors that Affect Solar Panel Costs in Maysville
There are several factors that can affect your 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 price of a solar panel system in Maysville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,340 for each additional kilowatt you need. The kind 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. However, higher efficiency could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Maysville average.
Solar Financing Terms
Many homeowners find the average cost of solar in Maysville to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time due to interest. Though solar loans make adopting solar energy more accessible for Maysville homeowners, they can also increase the total you pay for your system, depending on your interest rate. 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 panel system can influence your pricing. Maysville's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $13,568 | 10.7 years |
| 8 kW | $2.39 | $13,366 | $18,352 | 10.5 years |
| 10 kW | $2.34 | $16,380 | $23,268 | 10.3 years |
| 12 kW | $2.29 | $19,263 | $28,314 | 10.1 years |
| 14 kW | $2.25 | $22,015 | $33,492 | 9.9 years |
| 16 kW | $2.20 | $24,636 | $38,801 | 9.7 years |
| 18 kW | $2.15 | $27,125 | $44,241 | 9.5 years |
| 20 kW | $2.11 | $29,484 | $49,812 | 9.3 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Read the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Maysville, KY Solar Cost FAQs
What is the average cost of installing solar panels in Maysville?
The average cost of solar panels in Maysville 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Maysville is currently $132,500, which means you could be looking at a value of about $5,432 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Maysville is a rewarding investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.