Solar Panel Cost Guide in Stanford, KY (2025 Update)
- Stanford Solar Installation Cost: $24,537
- 25-Year Savings: $23,976
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Stanford
Let’s have a look at the average cost of solar panels in Stanford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Stanford, the average cost of solar panels is 4 per watt.Using this figure, a typical 9.6-kW system would cost about $24,537 before the 0 federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Stanford based on several factors, such as the brand of solar panels you choose and the solar installer you hire.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $16,000 over 20 years on electricity bills.
To get a free quote from a pre-vetted solar installer in Stanford, you can click the button below.
Solar savings over time in Stanford
| Year | Return on Investment |
|---|---|
| 1 years | $-23,158 |
| 3 years | $-20,400 |
| 5 years | $-17,643 |
| 7 years | $-14,885 |
| 9 years | $-12,127 |
| 11 years | $-9,369 |
| 13 years | $-6,612 |
| 15 years | $-3,854 |
| 17 years | $-1,096 |
| 19 years | $1,662 |
| 21 years | $4,419 |
| 23 years | $7,177 |
| 25 years | $9,935 |
Top Solar Installers in Stanford
Installing solar panels by yourself can be a challenging task, which is why using a solar installation company is a good option for many homeowners. Solar warranties and repairs are typically included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Stanford
Factors that Affect Solar Panel Costs in Stanford
For many Stanford homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Stanford, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of solar panels in Stanford, 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 consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Stanford, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Stanford to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Stanford, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Stanford are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $3.80 | $15,943 | $8,864 | 16.1 years |
| 8 kW | $3.72 | $20,849 | $12,227 | 15.8 years |
| 10 kW | $3.65 | $25,550 | $15,795 | 15.4 years |
| 12 kW | $3.58 | $30,047 | $19,568 | 15.1 years |
| 14 kW | $3.50 | $34,339 | $23,544 | 14.8 years |
| 16 kW | $3.43 | $38,427 | $27,725 | 14.5 years |
| 18 kW | $3.36 | $42,311 | $32,111 | 14.2 years |
| 20 kW | $3.29 | $45,990 | $36,701 | 13.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar installer, 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 what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Companies that have been in business for many years likely have a high 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.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Stanford, KY Solar Cost FAQs
What is the average cost of installing solar panels in Stanford?
This is a tough question to answer exactly, because the cost depends on many 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 other 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 go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact the value of my home?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t go for 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 a solar system."
How long do solar panels last in Stanford?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.