Solar Panel Cost Guide in Edgewood, KY (2024 Update)
- Edgewood Solar Installation Cost: $24,758
- 25-Year Savings: $20,512
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Edgewood
Here’s how much it might cost to switch to solar power in Edgewood.
The national average cost of solar panels is $2.66 per watt, but in Edgewood it’s 4 per watt.Because a 9.7-kW system is needed to cover the energy usage of a typical home in Edgewood, the average price of going solar will be about $24,758 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with.With average savings of about $14,000 on utility bills over 20 years, many homeowners in Edgewood find installing solar panels can pay off big.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Edgewood
| Year | Return on Investment |
|---|---|
| 1 years | $-23,563 |
| 3 years | $-21,174 |
| 5 years | $-18,785 |
| 7 years | $-16,395 |
| 9 years | $-14,006 |
| 11 years | $-11,617 |
| 13 years | $-9,227 |
| 15 years | $-6,838 |
| 17 years | $-4,449 |
| 19 years | $-2,060 |
| 21 years | $330 |
| 23 years | $2,719 |
| 25 years | $5,108 |
Top Solar Installers in Edgewood
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with an installer can make converting to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a professional solar company can help you make the most of your investment in solar. 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 Edgewood
Factors that Affect Solar Panel Costs in Edgewood
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Edgewood: 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
One of the most significant factors to consider when it comes to the cost of installing solar panels 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 around $3,650 per kilowatt in Edgewood.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Edgewood, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Edgewood homeowners choose to finance their solar panel systems to make going solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Edgewood, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Edgewood have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $6,586 | 17.7 years |
| 8 kW | $3.72 | $20,849 | $9,190 | 17.4 years |
| 10 kW | $3.65 | $25,550 | $11,998 | 17.0 years |
| 12 kW | $3.58 | $30,047 | $15,011 | 16.7 years |
| 14 kW | $3.50 | $34,339 | $18,229 | 16.3 years |
| 16 kW | $3.43 | $38,427 | $21,650 | 16.0 years |
| 18 kW | $3.36 | $42,311 | $25,276 | 15.7 years |
| 20 kW | $3.29 | $45,990 | $29,107 | 15.3 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable 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.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- 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 repairing your electrical system or roof.
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 Edgewood, KY Solar Cost FAQs
How much does it cost to install solar panels in Edgewood?
The average cost of solar panels in Edgewood 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Edgewood?
A solar panel system isn’t free in Edgewood, 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 solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $750.97 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.