Solar Panel Cost Guide in Beaver Dam, KY (2023 Update)
- Beaver Dam Solar Installation Cost: $15,430
- 25-Year Savings: $26,095
- Payback Period: 9.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Beaver Dam
See how much it might cost to go solar in Beaver Dam.
While the national average of solar panels is $2.66 per watt, solar panels in Beaver Dam generally cost about 2.34. Because a 9.4-kW system is needed to cover the energy usage of a typical home in Beaver Dam, the average price of going solar will be about $15,430 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Beaver Dam homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Beaver Dam find installing solar panels can pay off big.
You can click the button below to get connected with a pre-vetted solar company in Beaver Dam that can help you get a more accurate cost estimate for your home.
Solar savings over time in Beaver Dam
| Year | Return on Investment |
|---|---|
| 1 years | $-13,769 |
| 3 years | $-10,447 |
| 5 years | $-7,125 |
| 7 years | $-3,803 |
| 9 years | $-481 |
| 11 years | $2,841 |
| 13 years | $6,163 |
| 15 years | $9,485 |
| 17 years | $12,807 |
| 19 years | $16,129 |
| 21 years | $19,451 |
| 23 years | $22,773 |
| 25 years | $26,095 |
Top Solar Installers in Beaver Dam
Although you can install solar panels yourself, it requires extra effort and know-how. That's one of the reasons the majority of homeowners choose a solar panel installer. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
There are various 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 Beaver Dam
Factors that Affect Solar Panel Costs in Beaver Dam
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Beaver Dam: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Beaver Dam, one of the most important 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 power bills. Your overall cost can increase by about $2,340 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can affect your pricing. Beaver Dam's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of 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 names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.43 | $10,221 | $16,219 | 9.7 years |
| 8 kW | $2.39 | $13,366 | $21,887 | 9.5 years |
| 10 kW | $2.34 | $16,380 | $27,686 | 9.3 years |
| 12 kW | $2.29 | $19,263 | $33,617 | 9.1 years |
| 14 kW | $2.25 | $22,015 | $39,678 | 8.9 years |
| 16 kW | $2.20 | $24,636 | $45,870 | 8.7 years |
| 18 kW | $2.15 | $27,125 | $52,194 | 8.5 years |
| 20 kW | $2.11 | $29,484 | $58,648 | 8.4 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 find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Beaver Dam, KY Solar Cost FAQs
What is the average cost of installing solar panels in Beaver Dam?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Beaver Dam?
A solar panel system isn't free in Beaver Dam, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is going solar worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using 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.