Solar Panel Cost Guide in Reidland, KY (2024 Update)
- Reidland Solar Installation Cost: $23,586
- 25-Year Savings: $32,954
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Reidland
See how much it might cost to go solar in Reidland.
The national average cost of solar panels is $2.66 per watt, but in Reidland it’s 4 per watt.The average solar panel system size in Reidland is around 9.2 kilowatts, meaning a cost of about $23,586 for a solar installation, or $33,728 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Reidland homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Reidland can save about $20,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Reidland for a quote for your home.
Solar savings over time in Reidland
| Year | Return on Investment |
|---|---|
| 1 years | $-22,046 |
| 3 years | $-18,966 |
| 5 years | $-15,887 |
| 7 years | $-12,808 |
| 9 years | $-9,728 |
| 11 years | $-6,649 |
| 13 years | $-3,569 |
| 15 years | $-490 |
| 17 years | $2,590 |
| 19 years | $5,669 |
| 21 years | $8,748 |
| 23 years | $11,828 |
| 25 years | $14,907 |
Top Solar Installers in Reidland
When making the switch to solar, many homeowners opt to use a solar installation company since handling can be a difficult project. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance in the long run.
If you’d like to make the switch to solar but still aren’t sure which solar panel installer to go with, here are our recommendations for providers near you:
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
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Reidland: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Reidland, one of the most important 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 figure out by looking at past electricity bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your total costs, so it’s important to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Reidland, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.The company’s size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $15,304 | 12.8 years |
| 8 kW | $3.72 | $20,849 | $20,814 | 12.5 years |
| 10 kW | $3.65 | $25,550 | $26,529 | 12.3 years |
| 12 kW | $3.58 | $30,047 | $32,448 | 12.0 years |
| 14 kW | $3.50 | $34,339 | $38,571 | 11.8 years |
| 16 kW | $3.43 | $38,427 | $44,899 | 11.5 years |
| 18 kW | $3.36 | $42,311 | $51,431 | 11.3 years |
| 20 kW | $3.29 | $45,990 | $58,168 | 11.0 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Reidland, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
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
How much does it cost to install solar panels in Reidland?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 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 needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Reidland?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Reidland?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility 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 Reidland?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.