Solar Panel Cost Guide in Mount Sterling, KY (Jan 2023)
- Mount Sterling Solar Installation Cost: $15,905
- 25-Year Savings: $23,502
- Payback Period: 10.1 Years
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Top Solar Installers in Mount Sterling
Many homeowners decide to use a solar panel installer since trying to install solar panels yourself can be challenging. The payback period on a solar system will vary depending on factors like your location and energy needs, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Mount Sterling
Factors that Affect Solar Panel Costs in Mount Sterling
The cost of installing a solar system in Mount Sterling can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,340. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over five to seven years on average. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Mount Sterling is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services for different budgets. You may notice national solar installers that have lower prices because of 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 major players.
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||$14,124||10.5 years|
|8 kW||$2.39||$13,366||$19,094||10.3 years|
|10 kW||$2.34||$16,380||$24,195||10.1 years|
|12 kW||$2.29||$19,263||$29,427||9.9 years|
|14 kW||$2.25||$22,015||$34,790||9.7 years|
|16 kW||$2.20||$24,636||$40,284||9.5 years|
|18 kW||$2.15||$27,125||$45,910||9.3 years|
|20 kW||$2.11||$29,484||$51,666||9.1 years|
How to Save on Solar Panels
There are many companies to choose from in Mount Sterling, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: The kind of solar panel you want plays a part in which company you should choose, since different companies provide different panels.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
EcoWatch's Mount Sterling, KY Solar Cost FAQs
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.