Solar Panel Cost Guide in Derby, KS (2023 Update)
- Derby Solar Installation Cost: $13,380
- 25-Year Savings: $30,761
- Payback Period: 7.6 Years
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Updated May 04, 2023
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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 2.59 per watt. To cover the typical energy usage of the average home in Derby, most homeowners require a 7.4-kilowatt system. Using the figure above, a solar installation costs about $13,380, or $19,133 before the federal solar tax credit of 30% is applied.
The actual price you pay can go higher or lower than the average in Derby based on a few factors, such as the kind of solar panels you choose and the solar company you hire. But, once you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $23,000 over 20 years on energy bills.
To get a free quote from a vetted solar company in Derby, you can click the button below.
Solar savings over time in Derby
| Year | Return on Investment |
|---|---|
| 1 years | $-11,614 |
| 3 years | $-8,083 |
| 5 years | $-4,552 |
| 7 years | $-1,020 |
| 9 years | $2,511 |
| 11 years | $6,042 |
| 13 years | $9,573 |
| 15 years | $13,105 |
| 17 years | $16,636 |
| 19 years | $20,167 |
| 21 years | $23,698 |
| 23 years | $27,230 |
| 25 years | $30,761 |
Top Solar Installers in Derby
When making the switch to solar, many homeowners prefer to use a solar company since installing solar panels yourself can be a difficult project. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar installer in Derby, we've organized 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Derby
Factors that Affect Solar Panel Costs in Derby
There are a number of factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Derby, 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 consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,590 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Derby, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
Many homeowners find the average cost of solar in Derby to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. However, the interest on solar loans also adds to your all-in costs, so it's important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Derby are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.69 | $11,313 | $24,571 | 7.9 years |
| 8 kW | $2.64 | $14,794 | $33,052 | 7.7 years |
| 10 kW | $2.59 | $18,130 | $41,677 | 7.6 years |
| 12 kW | $2.54 | $21,321 | $50,448 | 7.4 years |
| 14 kW | $2.49 | $24,367 | $59,363 | 7.3 years |
| 16 kW | $2.43 | $27,268 | $68,424 | 7.1 years |
| 18 kW | $2.38 | $30,023 | $77,629 | 7.0 years |
| 20 kW | $2.33 | $32,634 | $86,980 | 6.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Derby, KS Solar Cost FAQs
What is the average cost of installing solar panels in Derby?
The average cost of solar panels in Derby is about $12,950 for a 5-kW system and $25,900 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Derby?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,196.14 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 cover 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.