Solar Panel Cost Guide in Pikeville, KY (Dec 2022)

  • Pikeville Solar Installation Cost: $16,003
  • 25-Year Savings: $28,111
  • Payback Period: 9.1 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 Pikeville

Find out what the average cost of installing solar panels is in Pikeville.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Pikeville, the average cost of solar panels is $2 per watt. The average solar panel system size in Pikeville is around 9.8 kilowatts, meaning a cost of about $16,003 for a solar installation, or $11,842 after the 30% federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. Even with the significant initial cost, the average Pikeville homeowner can save about $17,000 on their power bills over 20 years, which is one of the perks of solar.

Click the button below to get connected to a highly rated solar installer in your area for a personalized estimate.

Solar savings over time in Pikeville

Year Return on Investment
1 years $-14,239
3 years $-10,710
5 years $-7,180
7 years $-3,651
9 years $-122
11 years $3,407
13 years $6,936
15 years $10,465
17 years $13,995
19 years $17,524
21 years $21,053
23 years $24,582
25 years $28,111

Top Solar Installers in Pikeville

Trying to put up solar panels yourself can be a dangerous undertaking, which is why getting a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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 Pikeville

Factors that Affect Solar Panel Costs in Pikeville

The cost of installing a solar system in Pikeville can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

When it comes to estimating the price of a solar energy system in Pikeville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,340 for each additional kilowatt you need. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Most solar companies in Pikeville provide solar loans, which reduce the initial cost of installing a solar system. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.

Solar Panel Installation Company

The solar installer you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in Pikeville, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 $16,879 9.4 years
8 kW $2.39 $13,366 $22,768 9.2 years
10 kW $2.34 $16,380 $28,787 9.1 years
12 kW $2.29 $19,263 $34,938 8.9 years
14 kW $2.25 $22,015 $41,219 8.7 years
16 kW $2.20 $24,636 $47,632 8.5 years
18 kW $2.15 $27,125 $54,175 8.3 years
20 kW $2.11 $29,484 $60,850 8.2 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:

  • Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
  • Contract: Before signing a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy 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 (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 Pikeville, KY Solar Cost FAQs

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

This is a tough question to answer exactly, because the cost depends on a few different 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Is cost the most important consideration when buying solar panels?

Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

Do solar panels increase your home value?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pikeville is currently $96,700, which means you could be looking at a value of about $3,965 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Pikeville is a fruitful investment.

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home needs 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 home 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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