Solar Panel Cost Guide in Mount Sterling, KY (Dec 2022)

  • Mount Sterling Solar Installation Cost: $15,905
  • 25-Year Savings: $23,502
  • Payback Period: 10.1 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Mount Sterling

Find out what the average cost of solar panels are in Mount Sterling.

In Mount Sterling, solar panels cost about $2 per watt on average. The average solar panel system size in Mount Sterling is around 9.7 kilowatts, meaning a cost of about $15,905 for a solar installation, or $11,770 after the 30% federal solar tax credit is applied.

The true cost of your system can go above or below the average in Mount Sterling based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on energy bills.

For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Mount Sterling

Year Return on Investment
1 years $-14,329
3 years $-11,176
5 years $-8,024
7 years $-4,871
9 years $-1,718
11 years $1,434
13 years $4,587
15 years $7,739
17 years $10,892
19 years $14,044
21 years $17,197
23 years $20,349
25 years $23,502

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:

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 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.

Solar Equipment

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.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Mount Sterling, KY Solar Cost FAQs

What is the average cost of installing solar panels in Mount Sterling?

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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Mount Sterling?

Leasing solar panels can be an attractive choice, as it usually 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 option if you want to maximize your savings.

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

It is possible to erase your electricity bills with solar panels, but for most homeowners in Mount Sterling, 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.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.

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