Solar Panel Cost Guide in Louisville, CO (2024 Update)
- Louisville Solar Installation Cost: $14,732
- 25-Year Savings: $9,471
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Louisville
We break down average solar pricing in Louisville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Louisville, the typical cost of solar panels is 4 per watt.To account for the typical energy needs of the average home in Louisville, most homeowners require a 5.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,732, or $21,067 before the federal solar tax credit of 0 is applied.
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 solar panels you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $19,000 over 20 years on electricity bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Louisville
| Year | Return on Investment |
|---|---|
| 1 years | $-13,763 |
| 3 years | $-11,827 |
| 5 years | $-9,891 |
| 7 years | $-7,955 |
| 9 years | $-6,019 |
| 11 years | $-4,082 |
| 13 years | $-2,146 |
| 15 years | $-210 |
| 17 years | $1,726 |
| 19 years | $3,663 |
| 21 years | $5,599 |
| 23 years | $7,535 |
| 25 years | $9,471 |
Top Solar Installers in Louisville
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of an installer can make your switch to solar power much easier. Since solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're looking for a solar installer in Louisville, the EcoWatch team has put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
See all of the solar companies in Louisville
Factors that Affect Solar Panel Costs in Louisville
For many Louisville homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Louisville, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Louisville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by around $3,980 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Louisville homeowners decide to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, including the amount of 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 getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Louisville, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.14 | $17,385 | $12,241 | 14.7 years |
| 8 kW | $4.06 | $22,734 | $16,767 | 14.4 years |
| 10 kW | $3.98 | $27,860 | $21,515 | 14.1 years |
| 12 kW | $3.90 | $32,763 | $26,487 | 13.8 years |
| 14 kW | $3.82 | $37,444 | $31,682 | 13.5 years |
| 16 kW | $3.74 | $41,901 | $37,099 | 13.3 years |
| 18 kW | $3.66 | $46,136 | $42,740 | 13.0 years |
| 20 kW | $3.58 | $50,148 | $48,603 | 12.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: If you’re worried about the durability of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Outstanding Local Installer
Smart Wave Solar
- Installations include backup power guarantee
- Outstanding customer service
- Offers rewards for customer referrals
- Expensive
- No assistance with solar financing
- Limited brands of solar equipment available
EcoWatch's Louisville, CO Solar Cost FAQs
How much does it cost to install solar panels in Louisville?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $19,900 for a 5-kW system and $39,800 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Louisville?
You can’t get solar panels for free in Louisville. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Louisville, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Louisville?
Even though 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 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.