Solar Panel Cost Guide in Paintsville, KY (2024 Update)
- Paintsville Solar Installation Cost: $24,900
- 25-Year Savings: $28,151
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Paintsville
Find out what the average cost of solar panels are in Paintsville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Paintsville, the typical cost of a solar system is 4 per watt.Using this figure, a typical 9.7-kW system would cost about $24,900 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy usage and what company you go with.For many homeowners, the upfront investment in solar power is worth paying. On average Paintsville homeowners see about $17,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar panel company in Paintsville for a custom quote.
Solar savings over time in Paintsville
| Year | Return on Investment |
|---|---|
| 1 years | $-23,351 |
| 3 years | $-20,254 |
| 5 years | $-17,156 |
| 7 years | $-14,059 |
| 9 years | $-10,961 |
| 11 years | $-7,864 |
| 13 years | $-4,766 |
| 15 years | $-1,669 |
| 17 years | $1,429 |
| 19 years | $4,526 |
| 21 years | $7,623 |
| 23 years | $10,721 |
| 25 years | $13,818 |
Top Solar Installers in Paintsville
Although you can install solar panels by yourself, it involves extra effort and handiness. That's why most people choose to go with a solar panel installer. Another great thing about going with a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
There are several licensed solar professionals that can install solar panels for you. 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 Paintsville
Factors that Affect Solar Panel Costs in Paintsville
Although the average cost of a solar system in Paintsville is $24,900, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the price of a solar system in Paintsville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.The brand and type of equipment you get 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Paintsville, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that provides the products, warranties and services you want and also fits within your budget.
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 | $11,217 | 14.7 years |
| 8 kW | $3.72 | $20,849 | $15,364 | 14.4 years |
| 10 kW | $3.65 | $25,550 | $19,716 | 14.1 years |
| 12 kW | $3.58 | $30,047 | $24,273 | 13.8 years |
| 14 kW | $3.50 | $34,339 | $29,034 | 13.5 years |
| 16 kW | $3.43 | $38,427 | $33,999 | 13.3 years |
| 18 kW | $3.36 | $42,311 | $39,168 | 13.0 years |
| 20 kW | $3.29 | $45,990 | $44,542 | 12.7 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Paintsville, 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: When going solar, it’s essential to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the completion timeline.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
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 Paintsville, KY Solar Cost FAQs
How much does it cost to install solar panels in Paintsville?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Paintsville?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside 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 tax rebates and credits 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 eliminate your electricity bills with solar panels, but for most homeowners in Paintsville, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.