Solar Panel Cost Guide in Maysville, KY (2023 Update)
- Maysville Solar Installation Cost: $15,959
- 25-Year Savings: $22,670
- Payback Period: 10.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Maysville
Here's how much it might cost to switch to solar power in Maysville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Maysville, the average cost of solar panels is 2.34 per watt. To cover the typical energy needs of the average home in Maysville, most homeowners require a 9.7-kilowatt system. Using the figure above, a solar installation costs around $15,954, or $22,814 before the federal solar tax credit of 30% is applied.
The true cost of your system can be higher or lower than the average in Maysville depending on a few factors, such as the kind of solar panels you choose and the solar company you hire. Even with the large upfront cost, the average Maysville homeowner can save around $15,000 on their power bills over 20 years, which is one of the perks of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Maysville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,830 |
| 3 years | $-15,572 |
| 5 years | $-15,315 |
| 7 years | $-15,057 |
| 9 years | $-14,800 |
| 11 years | $-14,542 |
| 13 years | $-14,285 |
| 15 years | $-14,027 |
| 17 years | $-13,770 |
| 19 years | $-13,512 |
| 21 years | $-13,255 |
| 23 years | $-12,997 |
| 25 years | $-12,740 |
Top Solar Installers in Maysville
Trying to put up solar panels yourself can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. Another benefit of going with a solar company is that they can help you optimize your return of investment by cutting back on future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
Working with a professional 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 Maysville
Factors that Affect Solar Panel Costs in Maysville
While the average cost of a solar system in Maysville is $15,954, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Maysville, one of the most important 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 usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,340 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Maysville average.
Solar Financing Terms
Most solar companies in Maysville have solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also increases your all-in costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally 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
There are many companies available in Maysville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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.
- 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 affects which solar panel brands you have access to.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Maysville, KY Solar Cost FAQs
How much does it cost to install solar panels in Maysville?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Maysville?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase your property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.