Solar Panel Cost Guide in Mount Sterling, KY (2023 Update)
- Mount Sterling Solar Installation Cost: $15,908
- 25-Year Savings: $23,499
- Payback Period: 10.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Mount Sterling
Let's take a look at the average cost of solar panels in Mount Sterling.
In Mount Sterling, solar panels cost about 2.34 per watt on average. Using this figure, a typical 9.7-kW system would cost about $15,905 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Mount Sterling depending on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in Mount Sterling can save about $15,000 on their energy bills over 20 years.
To get a free quote from a pre-vetted solar installation company in Mount Sterling, you can click the button below.
Solar savings over time in Mount Sterling
| Year | Return on Investment |
|---|---|
| 1 years | $-15,777 |
| 3 years | $-15,514 |
| 5 years | $-15,252 |
| 7 years | $-14,989 |
| 9 years | $-14,726 |
| 11 years | $-14,463 |
| 13 years | $-14,201 |
| 15 years | $-13,938 |
| 17 years | $-13,675 |
| 19 years | $-13,413 |
| 21 years | $-13,150 |
| 23 years | $-12,887 |
| 25 years | $-12,624 |
Top Solar Installers in Mount Sterling
Many homeowners opt for a solar installer since installing solar panels by yourself can be a labor-intensive endeavor. In addition, if you'd like to maximize your investment in solar, using a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Mount Sterling
Factors that Affect Solar Panel Costs in Mount Sterling
Though the average cost of a solar system in Mount Sterling is $15,905, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy 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 nearly $2,340. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Mount Sterling, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Mount Sterling, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. While solar loans make adopting solar energy more accessible for Mount Sterling homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $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 a large number of companies available in Mount Sterling, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
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 Mount Sterling, KY Solar Cost FAQs
What is the average cost of installing solar panels in Mount Sterling?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Mount Sterling?
A solar panel system isn't free in Mount Sterling, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Mount Sterling?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.