Solar Panel Cost Guide in Morehead, KY (2024 Update)

  • Morehead Solar Installation Cost: $24,753
  • 25-Year Savings: $26,445
  • Payback Period: 14.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Morehead

Here’s how much it might cost to make the switch to solar in Morehead.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Morehead, the average cost of a solar system is 4 per watt.Because a 9.7-kW system is needed to cover the energy usage of a typical home in Morehead, the average price of going solar will be about $24,753 after claiming the federal solar tax credit of 0.

How much you pay can be above or below the average in Morehead depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar is worth paying. On average Morehead homeowners see about $17,000 in savings on electricity 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 Morehead

Year Return on Investment
1 years $-23,374
3 years $-20,616
5 years $-17,859
7 years $-15,101
9 years $-12,343
11 years $-9,585
13 years $-6,827
15 years $-4,070
17 years $-1,312
19 years $1,446
21 years $4,204
23 years $6,961
25 years $9,719

Top Solar Installers in Morehead

Trying to put up solar panels by yourself can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers offer can be useful as well, especially if you don’t quite know what brand of solar equipment you need.

If you’d like to go solar but still aren’t certain which solar company to go with, here are our suggestions for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Morehead

Factors that Affect Solar Panel Costs in Morehead

There are a number of criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

When it comes to estimating the cost of a solar energy system in Morehead, 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 energy bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Morehead, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.

Solar Panel Installation Company

The solar panel installer you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.

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 $10,262 15.2 years
8 kW $3.72 $20,849 $14,092 14.9 years
10 kW $3.65 $25,550 $18,126 14.6 years
12 kW $3.58 $30,047 $22,364 14.3 years
14 kW $3.50 $34,339 $26,807 14.0 years
16 kW $3.43 $38,427 $31,455 13.7 years
18 kW $3.36 $42,311 $36,306 13.5 years
20 kW $3.29 $45,990 $41,362 13.2 years

How to Save on Solar Panels

There are a lot of companies available in Morehead, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:

  • Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Morehead, KY Solar Cost FAQs

How much does it cost to install solar panels in Morehead?

The average cost of solar panels in Morehead is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Morehead?

Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 financial benefits from going solar.

How much can I save on electricity bills after switching to solar?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Morehead, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.

How often do you have to replace solar panels?

Even 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 their energy production will have decreased significantly after that point. You can choose to replace them after having 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.

Follow us