Solar Panel Cost Guide in Danville, KY (Mar 2023)
- Danville Solar Installation Cost: $15,725
- 25-Year Savings: $23,982
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Danville
Let's take a look at the average cost of solar in Danville.
Although the national average of solar panels is $2.66 per watt, solar panels in Danville typically cost around 2.34. To cover the typical energy usage of the average home in Danville, most homeowners require a 9.6-kilowatt system. Using the figure above, a solar installation costs about $15,725, or $22,487 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Danville find going solar can pay off big.
For a free quote from a local solar installer 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 | $-14,137 |
| 3 years | $-10,960 |
| 5 years | $-7,783 |
| 7 years | $-4,607 |
| 9 years | $-1,430 |
| 11 years | $1,746 |
| 13 years | $4,923 |
| 15 years | $8,099 |
| 17 years | $11,276 |
| 19 years | $14,452 |
| 21 years | $17,629 |
| 23 years | $20,805 |
| 25 years | $23,982 |
Top Solar Installers in Danville
Trying to install solar panels on your own can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Danville
Factors that Affect Solar Panel Costs in Danville
The cost of installing a solar system in Danville can vary by more than $10,000 from home to home. Your actual cost is dependent 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
When it comes to estimating the cost of solar panels in Danville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,340 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Danville, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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
If paying for a solar system in cash is out of reach, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. 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 help you save 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 | $2.43 | $10,221 | $14,606 | 10.3 years |
| 8 kW | $2.39 | $13,366 | $19,736 | 10.1 years |
| 10 kW | $2.34 | $16,380 | $24,998 | 9.9 years |
| 12 kW | $2.29 | $19,263 | $30,391 | 9.7 years |
| 14 kW | $2.25 | $22,015 | $35,915 | 9.5 years |
| 16 kW | $2.20 | $24,636 | $41,569 | 9.3 years |
| 18 kW | $2.15 | $27,125 | $47,355 | 9.1 years |
| 20 kW | $2.11 | $29,484 | $53,272 | 8.9 years |
How to Save on Solar Panels
There are many companies available in Danville, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Danville, KY Solar Cost FAQs
How much does it cost to install solar panels in Danville?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Danville?
A solar panel system isn't free in Danville, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Danville?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.