Solar Panel Cost Guide in Williamstown, KY (2023 Update)
- Williamstown Solar Installation Cost: $15,823
- 25-Year Savings: $21,352
- Payback Period: 10.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Williamstown
See how much it might cost to install solar panels in Williamstown.
The national average cost of solar panels is $2.66 per watt, but in Williamstown it's 2.34 per watt. The average solar panel system size in Williamstown is around 9.7 kilowatts, meaning a cost of about $15,823 for a solar installation, or $22,627 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs will differ based on factors unique to your home and what company you want to go with. For most homeowners, the upfront cost of solar power is worth paying. On average Williamstown homeowners see about $15,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar company in Williamstown for a personalized estimate.
Solar savings over time in Williamstown
| Year | Return on Investment |
|---|---|
| 1 years | $-14,336 |
| 3 years | $-11,362 |
| 5 years | $-8,388 |
| 7 years | $-5,414 |
| 9 years | $-2,440 |
| 11 years | $534 |
| 13 years | $3,508 |
| 15 years | $6,482 |
| 17 years | $9,456 |
| 19 years | $12,430 |
| 21 years | $15,404 |
| 23 years | $18,378 |
| 25 years | $21,352 |
Top Solar Installers in Williamstown
Trying to install solar panels yourself can be a challenging undertaking, which is why getting a solar installation company is a good option for many homeowners. Some solar installers, especially local ones, can help you make the most of incentives in Williamstown, therefore optimizing your ROI.
If you'd like to switch to solar energy but still aren't certain which solar panel installer to go with, here are our suggestions 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 Williamstown
Factors that Affect Solar Panel Costs in Williamstown
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,340. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Williamstown, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Williamstown provide solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Williamstown, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $12,870 | 11.1 years |
| 8 kW | $2.39 | $13,366 | $17,422 | 10.9 years |
| 10 kW | $2.34 | $16,380 | $22,106 | 10.6 years |
| 12 kW | $2.29 | $19,263 | $26,920 | 10.4 years |
| 14 kW | $2.25 | $22,015 | $31,865 | 10.2 years |
| 16 kW | $2.20 | $24,636 | $36,941 | 10.0 years |
| 18 kW | $2.15 | $27,125 | $42,149 | 9.8 years |
| 20 kW | $2.11 | $29,484 | $47,487 | 9.6 years |
How to Save on Solar Panels
The solar installer you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies have various brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
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 Williamstown, KY Solar Cost FAQs
What is the average cost of installing solar panels in Williamstown?
The average cost of solar panels in Williamstown 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Williamstown?
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 home 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 financial benefits from going solar.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Williamstown is currently $127,676, so you can look forward to a value of about $5,235 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Williamstown is a fruitful investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.