Solar Panel Cost Guide in Middlesborough, KY (2023 Update)
- Middlesborough Solar Installation Cost: $15,750
- 25-Year Savings: $22,684
- Payback Period: 10.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Middlesborough
See how much it might cost to switch to solar power in Middlesborough.
The national average cost of solar panels is $2.66 per watt, but in Middlesborough it's 2.34 per watt. The average Middlesborough homeowner needs a 9.6-kilowatt system, which would cost about $15,758 with the federal tax credit, or $22,534 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you choose, your solar contractor and more. But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
To get a free quote from a highly rated solar company in Middlesborough, you can click the button below.
Solar savings over time in Middlesborough
| Year | Return on Investment |
|---|---|
| 1 years | $-15,622 |
| 3 years | $-15,366 |
| 5 years | $-15,110 |
| 7 years | $-14,854 |
| 9 years | $-14,597 |
| 11 years | $-14,341 |
| 13 years | $-14,085 |
| 15 years | $-13,829 |
| 17 years | $-13,573 |
| 19 years | $-13,316 |
| 21 years | $-13,060 |
| 23 years | $-12,804 |
| 25 years | $-12,548 |
Top Solar Installers in Middlesborough
Although it's possible to install solar panels on your own, it involves extra effort and expertise. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. A solar installer can also help save you money over time by providing warranties, repairs and system component replacements.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our suggestions for providers near you:
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 Middlesborough
Factors that Affect Solar Panel Costs in Middlesborough
For many Middlesborough homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Middlesborough, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar equipment you choose can increase or decrease your cost 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 in the long run on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Middlesborough average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Middlesborough, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. Though solar loans make adopting solar energy more accessible for Middlesborough homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Larger national companies typically 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 add-on 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 | $2.43 | $10,221 | $13,761 | 10.7 years |
| 8 kW | $2.39 | $13,366 | $18,610 | 10.4 years |
| 10 kW | $2.34 | $16,380 | $23,590 | 10.2 years |
| 12 kW | $2.29 | $19,263 | $28,702 | 10.0 years |
| 14 kW | $2.25 | $22,015 | $33,944 | 9.8 years |
| 16 kW | $2.20 | $24,636 | $39,317 | 9.6 years |
| 18 kW | $2.15 | $27,125 | $44,822 | 9.4 years |
| 20 kW | $2.11 | $29,484 | $50,457 | 9.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- 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.
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 Middlesborough, KY Solar Cost FAQs
What is the average cost of installing solar panels in Middlesborough?
This is a tough question to answer precisely, 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Middlesborough?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Can you sell solar power back to the grid in Middlesborough?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future utility 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 Middlesborough?
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 amount 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.