Solar Panel Cost Guide in Danville, KY (2023 Update)
- Danville Solar Installation Cost: $15,718
- 25-Year Savings: $23,988
- Payback Period: 9.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Danville
Find out what the average cost of solar panels are in Danville.
In Danville, solar panels cost about 2.34 per watt on average. Using this figure, a typical 9.6-kW system would cost about $15,725 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Danville homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $16,000 on utility bills over 20 years, many homeowners in Danville find investing in solar has a decent ROI.
Click the button below to get connected to a highly rated solar installer in Danville for a personalized quote.
Solar savings over time in Danville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,586 |
| 3 years | $-15,321 |
| 5 years | $-15,056 |
| 7 years | $-14,792 |
| 9 years | $-14,527 |
| 11 years | $-14,262 |
| 13 years | $-13,998 |
| 15 years | $-13,733 |
| 17 years | $-13,468 |
| 19 years | $-13,204 |
| 21 years | $-12,939 |
| 23 years | $-12,674 |
| 25 years | $-12,409 |
Top Solar Installers in Danville
Although you can install solar panels on your own, it requires extra labor and know-how. That's one of the reasons almost all homeowners choose a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for your home.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Danville
Factors that Affect Solar Panel Costs in Danville
Although the average cost of a solar system in Danville is $15,725, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,340 per kilowatt in Danville. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Danville to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can impact the cost. Danville's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 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:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
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 Danville, KY Solar Cost FAQs
How much does it cost to install solar panels in Danville?
The average cost of solar panels in Danville is about $11,700 for a 5-kW system and $23,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Danville?
Solar panels aren'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 help lower the cost.
Does Danville have a net metering program?
Most states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.