Solar Panel Cost Guide in Bowling Green, KY (2024 Update)
- Bowling Green Solar Installation Cost: $23,883
- 25-Year Savings: $10,898
- Payback Period: 22.8 Years
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Average Cost of Solar Panels in Bowling Green
Find out what the average cost of a solar system is in Bowling Green.
The national average cost of solar panels is $2.66 per watt, but in Bowling Green it’s 4 per watt.The average Bowling Green homeowner needs a 9.3-kilowatt system, which would cost about $23,883 with the federal tax credit, or $34,153 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Bowling Green homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Bowling Green see about $11,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Bowling Green
| Year | Return on Investment |
|---|---|
| 1 years | $-22,979 |
| 3 years | $-21,172 |
| 5 years | $-19,366 |
| 7 years | $-17,559 |
| 9 years | $-15,752 |
| 11 years | $-13,945 |
| 13 years | $-12,138 |
| 15 years | $-10,331 |
| 17 years | $-8,525 |
| 19 years | $-6,718 |
| 21 years | $-4,911 |
| 23 years | $-3,104 |
| 25 years | $-1,297 |
Top Solar Installers in Bowling Green
When switching to solar energy, many homeowners prefer to use a solar installer since DIY solar panel installation can be a time-consuming project. Another good thing about using a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
If you’d like to go solar but still aren’t certain which solar panel installer to go with, here are our recommendations for providers in Bowling Green:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Bowling Green
Factors that Affect Solar Panel Costs in Bowling Green
The cost of installing a solar system in Bowling Green can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Bowling Green to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices 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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence your pricing. Bowling Green’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $3.80 | $15,943 | $880 | 23.7 years |
| 8 kW | $3.72 | $20,849 | $1,582 | 23.2 years |
| 10 kW | $3.65 | $25,550 | $2,488 | 22.8 years |
| 12 kW | $3.58 | $30,047 | $3,599 | 22.3 years |
| 14 kW | $3.50 | $34,339 | $4,915 | 21.9 years |
| 16 kW | $3.43 | $38,427 | $6,434 | 21.4 years |
| 18 kW | $3.36 | $42,311 | $8,158 | 21.0 years |
| 20 kW | $3.29 | $45,990 | $10,087 | 20.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Contract: Look through the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Bowling Green, KY Solar Cost FAQs
How much does it cost to install solar panels in Bowling Green?
The average cost of solar panels in Bowling Green is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bowling Green is currently $267,185, so you could be looking at a value of about $10,955 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Bowling Green 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 needs 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 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.