How much do solar panels cost in Pikeville in 2019
As of Jan 2019, the average cost of solar panels in Pikeville is $3.96 per watt making a typical 6000 watt (6 kW) solar system $23,730 before the federal solar credit and $16,611 after claiming the federal solar tax credit.
This is higher than the average price of residential solar power systems across the United States which is currently $3.89 per watt.
We currently have 3 solar companies in Pikeville that provide live customized live pricing for users of our site.
Current solar panel cost in Pikeville based on offers available from local solar companies of common sizes residential solar power systems
We currently have no data available for Pikeville, so we are showing you data for the whole country.
|System size*||Average cost
(before tax credit)
(after tax credit)
|4 kW||$4.29||267 sq/ft||$17,178||$12,025|
|5 kW||$4.11||333 sq/ft||$20,551||$14,386|
|6 kW||$3.96||400 sq/ft||$23,730||$16,611|
|8 kW||$3.71||533 sq/ft||$29,710||$20,797|
|10 kW||$3.55||667 sq/ft||$35,509||$24,856|
|12 kW||$3.40||800 sq/ft||$40,845||$28,592|
|20 kW||$3.23||1,333 sq/ft||$64,523||$45,166|
How to calculate the cost of solar panels for your home in Pikeville
Installation costs for solar will vary with your location, and the size of your homes electricity bill. To be meaningful solar cost information needs to be tailored to the individual situation. If you enter your details into the solar calculator below you will get a solar cost and savings estimate and find out how much solar panels will cost for your home.
Start creating a solar estimate tailored to your home now
How much will solar save an average homeowner in Pikeville in the first month given the current cost of the solar panels?
Monthly savings year one $-16
What factors affect the cost of installing solar panels for your home?
The cost of installing residential solar panels in Pikeville varies with the brand of solar panels and inverters you choose, the installation company you choose to install them, the relative ease or difficulty of installing solar panels on your home, and of course the amount of solar panels you need. The amount of solar panels you need is, in turn, related to your energy usage.
How is the cost of solar panels for homes in Pikeville offset by solar tax credits?
The cost of installation of renewable energy systems in Pikeville is supported by the federal solar investment tax credit that you get back when you do your federal taxes and also local policies from Sequachee Valley Electric Coop. Sequachee Valley Electric Coop likely offers a net metering program that would pay you a good rate for excess solar power you put back into the grid when you are producing more clean energy than what your home needs. This could increase your solar investment return and reduce your solar payback period such that many Pikeville homeowners who install solar panels now will enjoy 20 years or more of free power after their solar panels have paid themselves off.
Calculate the saving from solar tax credits on your home solar panel cost
How does the cost of solar power compare to the electricity rates charged by Sequachee Valley Electric Coop? (per kWh)
Levelized cost of power from this typical solar system installed on a home in Pikeville over 25 years is 7¢ cents/kWh.
Average cost of utility power over 25 years (if you don't get solar) is 24¢ cents/kWh. This shows that solar is a far cheaper way to power your home in Pikeville over the long term. The way we calculate the average cost of utility power is by assuming the current Sequachee Valley Electric Coop electric rates will grow each year at a compound rate of 3.5%. Actual inflation may be higher or lower than this but either way this analysis shows that solar is a clearly better choice.
Detailed information about your estimate
|System Size (for 100% usage offset)||14.85 kW|
|Annual Power Generation||18,181 kWh|
|Pay-back time (assuming Cash purchase)||10 Years 9 Months|
|Internal Rate of Return (IRR) on Investment||5.6 %|
|Total Upfront Incentives and Rebates||-$13,900|
|Net Cost of System after rebates and incentives||$32,432|
|Total Cost of Utility Power Avoided over 25 years||$106,950|
Please note that the investment return figures do not include the possible increase in property value.
What is the current payback period average solar panel installation cost given current solar system cost in Pikeville?
The payback period for Sequachee Valley Electric Coop homeowners installing a solar panel system for home depends on their energy bills (or at least their electricity bills) from their utility company prior to installing solar, the finance method they choose to pay for their solar system, the size of system they install, the orientation and tilt of their roof and any shading that may affect output and of course the system prices charged by local solar installers. Those installing DIY solar panels may get a shorter payback period.
However, here are the results from solar quotes generated on solar-estimate.org in Pikeville in 2019 taking the federal tax credit into account.
Pay Back Period
10 Years 9 Months
Equivalent Return on Investment (IRR)Equivalent Return on Investment (IRR)