Solar Panel Cost Guide in Pikeville, KY (2023 Update)
- Pikeville Solar Installation Cost: $16,003
- 25-Year Savings: $28,111
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Pikeville
See how much it might cost to make the switch to solar in Pikeville.
Although the national average of solar panels is $2.66 per watt, solar panels in Pikeville typically cost about 2.34. The average Pikeville homeowner needs a 9.8-kilowatt system, which would cost about $16,003 with the federal tax credit, or $22,884 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what company you go with. With typical savings of about $17,000 on power bills over 20 years, many homeowners in Pikeville find installing solar panels has a decent ROI.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
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
Many homeowners choose to use a solar installation company since trying to install solar panels on your own can be a labor-intensive endeavor. The expertise that solar companies offer can be invaluable as well, especially if you aren't sure what brand of solar equipment would be right for your home.
There are several licensed solar professionals that can take care of your solar installation project. 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 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 depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,340 per kilowatt in Pikeville. The type of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Pikeville to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. Though solar loans make going solar more accessible for Pikeville homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can play a role in determining your pricing. Pikeville's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Pikeville are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: The kind of solar panel you need plays a role in which installer you should choose, since different companies have different panels.
- Reputation: Long-standing companies likely have a solid 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.
- 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.
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 Pikeville, KY Solar Cost FAQs
What is the average cost of installing solar panels in Pikeville?
The average cost of solar panels in Pikeville is about $11,700 for a 5-kW system and $23,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Pikeville?
You can't get solar panels for free in Pikeville. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Does Pikeville have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Pikeville?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.