Solar Panel Cost Guide in Derby, KS (2024 Update)
- Derby Solar Installation Cost: $17,256
- 25-Year Savings: $30,760
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in Derby
Let’s take a look at the average cost of solar in Derby.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Derby, the average cost of solar panels is 3 per watt.The average Derby homeowner needs a 7.4-kilowatt system, which would cost about $17,256 with the federal tax credit, or $24,676 before the 0 tax credit is applied.
These figures are just averages, and how much solar costs for you may vary based on your specific situation and what company you go with.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Derby see about $23,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Derby that can help you get a more accurate cost estimate for your home.
Solar savings over time in Derby
| Year | Return on Investment |
|---|---|
| 1 years | $-15,920 |
| 3 years | $-13,247 |
| 5 years | $-10,575 |
| 7 years | $-7,903 |
| 9 years | $-5,231 |
| 11 years | $-2,559 |
| 13 years | $113 |
| 15 years | $2,785 |
| 17 years | $5,457 |
| 19 years | $8,130 |
| 21 years | $10,802 |
| 23 years | $13,474 |
| 25 years | $16,146 |
Top Solar Installers in Derby
When making the switch to solar, many homeowners decide to use a solar installer since installing a solar system yourself can be a time-consuming project. Plus, if you aren’t sure what type of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Derby
Factors that Affect Solar Panel Costs in Derby
The cost of installing a solar system in Derby can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,340. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Derby, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your total costs, so it’s vital to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Derby is the company you get to install your solar system. As with choosing a company to install new cabinets, for instance, you’ll have no shortage of solar installers that offer a range of services for different budgets.The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.47 | $14,589 | $21,295 | 10.2 years |
| 8 kW | $3.41 | $19,078 | $28,768 | 10.0 years |
| 10 kW | $3.34 | $23,380 | $36,427 | 9.8 years |
| 12 kW | $3.27 | $27,495 | $44,274 | 9.6 years |
| 14 kW | $3.21 | $31,423 | $52,307 | 9.4 years |
| 16 kW | $3.14 | $35,164 | $60,528 | 9.2 years |
| 18 kW | $3.07 | $38,717 | $68,935 | 9.0 years |
| 20 kW | $3.01 | $42,084 | $77,530 | 8.8 years |
How to Save on Solar Panels
There are a lot of companies available in Derby, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Reputation: Companies that have been operating for many years likely have a high 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.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Derby, KS Solar Cost FAQs
How much does it cost to install solar panels in Derby?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $16,700 for a 5-kW system and $33,400 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 flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Derby?
Leasing solar panels can be an appealing choice, because it often 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Derby is currently $266,532, which means you could be looking at a value of about $10,928 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Derby is a worthwhile investment.
How many solar panels do I need 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 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.