Solar Panel Cost Guide in Reidland, KY (2023 Update)
- Reidland Solar Installation Cost: $15,119
- 25-Year Savings: $32,956
- Payback Period: 7.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Reidland
Let's take a look at the average cost of solar in Reidland.
Although the national average of solar panels is $2.66 per watt, solar panels in Reidland generally cost around 2.34. The average solar panel system size in Reidland is around 9.2 kilowatts, meaning a cost of about $15,119 for a solar installation, or $21,620 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely differ based on your specific situation and what company you want to go with. 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 $20,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar company in your area for a personalized quote.
Solar savings over time in Reidland
| Year | Return on Investment |
|---|---|
| 1 years | $-13,196 |
| 3 years | $-9,350 |
| 5 years | $-5,504 |
| 7 years | $-1,658 |
| 9 years | $2,188 |
| 11 years | $6,034 |
| 13 years | $9,880 |
| 15 years | $13,726 |
| 17 years | $17,572 |
| 19 years | $21,418 |
| 21 years | $25,264 |
| 23 years | $29,110 |
| 25 years | $32,956 |
Top Solar Installers in Reidland
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make converting to solar power much easier. The payback period on a solar system will vary based on factors like your roof configuration and energy usage, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
If you're looking for a solar company in Reidland, we've organized a list of our top suggestions here:
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 Reidland
Factors that Affect Solar Panel Costs in Reidland
The cost of installing a solar system in Reidland 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 the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,340 per kilowatt in Reidland. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Reidland average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to include 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installer you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $21,026 | 8.2 years |
| 8 kW | $2.39 | $13,366 | $28,297 | 8.0 years |
| 10 kW | $2.34 | $16,380 | $35,699 | 7.9 years |
| 12 kW | $2.29 | $19,263 | $43,232 | 7.7 years |
| 14 kW | $2.25 | $22,015 | $50,896 | 7.5 years |
| 16 kW | $2.20 | $24,636 | $58,691 | 7.4 years |
| 18 kW | $2.15 | $27,125 | $66,617 | 7.2 years |
| 20 kW | $2.11 | $29,484 | $74,674 | 7.1 years |
How to Save on Solar Panels
The solar company you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- 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 considerable role in the company you opt for.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates 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 Reidland, KY Solar Cost FAQs
What is the average cost of installing solar panels in Reidland?
This is a difficult question to answer exactly, because the cost depends on many 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 more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Reidland?
On average, solar panels can last 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.