Best 5 Solar Companies in Richmond, KY

With Richmond's clear skies and below-average rainfall, it's an excellent area for families and businesses aiming to harness the extra sunlight by purchasing panels from one of the best solar companies. While going solar comes with upfront costs, local homeowners could ultimately save $830 per kilowatt on their electric bills. A professional installer can help you choose the best panels to maximize your savings. On this page, we'll showcase Richmond's premier solar companies and give insightful advice for your solar journey.

Ranking Methodology

Our team used the following criteria to determine the best Richmond solar companies.

• Panel brands and quality: The premier solar companies remain current on new technology, offering equipment from reliable, innovative manufacturers.
• Service offerings and warranties: Solar installers should stand behind their systems and services with warranties. We evaluated how each contractor responds to issues and warranty claims, focusing on promptness and customer happiness.
• Educational approach and support: Solar technicians must be excellent teachers. They should tap into their years of experience address your questions on how to look after your system and improve its performance.
• Customer reviews and feedback: Most Richmond solar installers have both positive and critical reviews. However, a good review ratio indicates a company's reliability and responsiveness to issues.
• Professional licenses and credentials: Each contractor on our list meets state and city licensing requirements and keeps current with industry best practices. Many of them have served the Richmond community for over 15 years.

Benefits of Solar Energy

Solar energy offers multiple advantages. Here are some highlights.

• Lowered energy bills: With solar energy systems, you produce power without paying the tacked-on costs of grid-connected power. Going off-grid can eliminate your bills completely. Plus, a significant amount of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
• Better energy independence: Photovoltaic solar panel systems with energy storage systems work through blackouts and emergencies, and you won't have to depend on the electrical grid for your safety and well-being.
• Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.

What Solar Incentives Are Available to Richmond Homeowners?

Kentucky homeowners who decide on solar could qualify for tax credits, reimbursements, rebates and special financing. Here are just a few of the local incentive programs.

How To Choose the Best Solar Company in Richmond

Choosing a company is the first step toward an effective and cost-efficient solar system. Make your choice based on the following essential elements.

Licensing and Training

Home solar energy companies in Kentucky don't have to be licensed electricians or plumbers. However, a plumber or electrician licensed by the Commonwealth must be on the team to retain building permits and connect the system to meters and utility grids. You should also visit a company's website to learn about its private accreditations. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, backed by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.

Cost of Solar Panels in Richmond

Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.

If you want to charge an electric car or use your solar power in inclement weather, you can pay extra for add-ons. By choosing the right components, you can make your system more productive and user-friendly. Not all solar providers provide these extras, so look for a provider that installs them if it's crucial for you.

Most Richmond homeowners select solar systems rated for five kilowatts (kW) of electrical capacity. These systems cost about $18,250 to install, considering both materials and labor. You can find more specific solar cost information in the table.

Financing Solar Energy in Richmond

Choosing the best financing option will influence your overall solar system cost and possible savings. Common payment options include leases, cash payments, power purchase agreements, and loans. Though it requires a large up-front payment, cash is the most economical choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the second most effective option. As with a car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) allows you to pay a monthly rate based only on the energy you use, akin to an electric bill. We generally don’t recommend these two options because you won't own the solar system and are disqualified from using solar incentives. Look for providers that offer multiple payment plans to find the right fit for your wallet.

The table below lists the average payback periods for different capacities of solar systems in Richmond.

The IRS allows you to claim a 26% federal tax credit for solar panels on total system costs, so long as you purchase it before 2032. Local governments and utilities might also offer their own incentives, financing programs, and rebates that could save you more money.

Sources

• U.S. Centers for Disease Control and Prevention (CDC)
• National Renewable Energy Laboratory (NREL)
• U.S. Department of Energy