Solar Panel Cost Guide in Ashland, KY (2024 Update)
- Ashland Solar Installation Cost: $24,848
- 25-Year Savings: $13,870
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Ashland
See how much it might cost to install solar panels in Ashland.
The average cost of a solar system in Ashland is 4 per watt.Because a 9.7-kW system is needed to cover the energy costs of a typical home in Ashland, the average price of going solar will be about $24,848 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.With average savings of about $17,000 on energy bills over 20 years, many homeowners in Ashland find installing solar panels can pay off big.
Click the button below to get connected to a vetted solar installer in your area for a custom quote.
Solar savings over time in Ashland
| Year | Return on Investment |
|---|---|
| 1 years | $-23,299 |
| 3 years | $-20,202 |
| 5 years | $-17,104 |
| 7 years | $-14,007 |
| 9 years | $-10,909 |
| 11 years | $-7,812 |
| 13 years | $-4,714 |
| 15 years | $-1,617 |
| 17 years | $1,481 |
| 19 years | $4,578 |
| 21 years | $7,675 |
| 23 years | $10,773 |
| 25 years | $13,870 |
Top Solar Installers in Ashland
Although it's possible to install solar panels on your own, it involves extra time and expertise. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Some solar installers, especially local ones, can help you better understand incentives in Ashland, optimizing your ROI.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Ashland
Factors that Affect Solar Panel Costs in Ashland
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Ashland: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $3,650 per kilowatt in Ashland.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Ashland, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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 Ashland to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in paying more over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Ashland, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that offers the products, warranties and services you want and also fits within your budget.
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 | $11,364 | 14.6 years |
| 8 kW | $3.72 | $20,849 | $15,560 | 14.3 years |
| 10 kW | $3.65 | $25,550 | $19,961 | 14.0 years |
| 12 kW | $3.58 | $30,047 | $24,567 | 13.8 years |
| 14 kW | $3.50 | $34,339 | $29,377 | 13.5 years |
| 16 kW | $3.43 | $38,427 | $34,391 | 13.2 years |
| 18 kW | $3.36 | $42,311 | $39,610 | 12.9 years |
| 20 kW | $3.29 | $45,990 | $45,033 | 12.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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 Ashland, KY Solar Cost FAQs
How much does it cost to install solar panels in Ashland?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Ashland?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $910.23 per year.
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can opt to replace them once you've had 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.