Solar Panel Cost Guide in Louisville, CO (2023 Update)
- Louisville Solar Installation Cost: $9,961
- 25-Year Savings: $16,147
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Louisville
Find out what the average cost of solar panel installation is in Louisville.
The national average cost of solar panels is $2.66 per watt, but in Louisville it's 2.69 per watt. Since a 5.3-kW system is needed to cover the energy costs of a typical home in Louisville, the average price of going solar will be about $9,961 after claiming the federal solar tax credit of 30%.
Keep in mind 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 choose, your solar contractor and more. With typical savings of about $19,000 on utility bills over 20 years, many homeowners in Louisville find going solar has a decent ROI.
You can click the button below to get connected with a pre-vetted solar installer in Louisville for a quote for your home.
Solar savings over time in Louisville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,917 |
| 3 years | $-6,828 |
| 5 years | $-4,739 |
| 7 years | $-2,651 |
| 9 years | $-562 |
| 11 years | $1,527 |
| 13 years | $3,615 |
| 15 years | $5,704 |
| 17 years | $7,793 |
| 19 years | $9,881 |
| 21 years | $11,970 |
| 23 years | $14,059 |
| 25 years | $16,147 |
Top Solar Installers in Louisville
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with an installer can make your switch to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar company too, which can save you more money over time.
If you're looking for a solar company in Louisville, we've compiled 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 (coming 2022)
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 Louisville
Factors that Affect Solar Panel Costs in Louisville
The cost of installing a solar system in Louisville can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Louisville. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Louisville average.
Solar Financing Terms
Many homeowners find the average cost of solar in Louisville to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. 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 can only 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 securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Louisville is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. 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 decide on the company that provides the products, warranties and services you want and also fit into 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 | $2.80 | $11,750 | $17,875 | 9.9 years |
| 8 kW | $2.74 | $15,365 | $24,135 | 9.7 years |
| 10 kW | $2.69 | $18,830 | $30,545 | 9.5 years |
| 12 kW | $2.64 | $22,144 | $37,106 | 9.3 years |
| 14 kW | $2.58 | $25,308 | $43,818 | 9.2 years |
| 16 kW | $2.53 | $28,320 | $50,680 | 9.0 years |
| 18 kW | $2.47 | $31,182 | $57,693 | 8.8 years |
| 20 kW | $2.42 | $33,894 | $64,857 | 8.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer 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 things to keep in mind to help with your decision:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Louisville, CO Solar Cost FAQs
How much does it cost to install solar panels in Louisville?
The average cost of solar panels in Louisville is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Louisville?
You can't get solar panels for free in Louisville. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Louisville is currently $449,688, so you can look forward to a value of about $18,437 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Louisville is a fruitful investment.
How many solar panels should I get 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 account for 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.