Solar Panel Cost Guide in Danville, KY (2025 Update)
- Danville Solar Installation Cost: $24,518
- 25-Year Savings: $23,988
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Danville
Find out what the average cost of a solar system is in Danville.
The average cost of a solar panel system in Danville is 4 per watt.The average Danville homeowner needs a 9.6-kilowatt system, which would cost about $24,518 with the federal tax credit, or $35,061 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar panels you choose, your solar contractor and more.With average savings of about $16,000 on power bills over 20 years, many homeowners in Danville find installing solar panels can pay off big.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Danville
| Year | Return on Investment |
|---|---|
| 1 years | $-23,139 |
| 3 years | $-20,381 |
| 5 years | $-17,623 |
| 7 years | $-14,865 |
| 9 years | $-12,108 |
| 11 years | $-9,350 |
| 13 years | $-6,592 |
| 15 years | $-3,834 |
| 17 years | $-1,077 |
| 19 years | $1,681 |
| 21 years | $4,439 |
| 23 years | $7,197 |
| 25 years | $9,954 |
Top Solar Installers in Danville
Although you can install solar panels yourself, it takes extra effort and know-how. For that reason, most people choose to hire a solar panel installer. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're looking for a solar company in Danville, the EcoWatch team has 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
See all of the solar companies in Danville
Factors that Affect Solar Panel Costs in Danville
Though the average cost of a solar system in Danville is $24,518, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,650. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Danville, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular route because they reduce your upfront costs and let you pay for your system over five to seven years on average.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can impact the cost. Danville’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Danville are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $3.80 | $15,943 | $8,884 | 16.1 years |
| 8 kW | $3.72 | $20,849 | $12,254 | 15.7 years |
| 10 kW | $3.65 | $25,550 | $15,828 | 15.4 years |
| 12 kW | $3.58 | $30,047 | $19,607 | 15.1 years |
| 14 kW | $3.50 | $34,339 | $23,590 | 14.8 years |
| 16 kW | $3.43 | $38,427 | $27,778 | 14.5 years |
| 18 kW | $3.36 | $42,311 | $32,170 | 14.2 years |
| 20 kW | $3.29 | $45,990 | $36,766 | 13.9 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 brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Warranty: If you’re worried about the longevity of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Danville, KY Solar Cost FAQs
What is the average cost of installing solar panels in Danville?
The average cost of solar panels in Danville 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 type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Danville?
Leasing solar panels can be an attractive choice, as it typically 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 get the most savings.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $827.56 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.