Solar Panel Cost Guide in Elizabethtown, KY (Feb 2023)
- Elizabethtown Solar Installation Cost: $15,627
- 25-Year Savings: $24,177
- Payback Period: 9.8 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Elizabethtown
Find out what the average cost of installing solar panels is in Elizabethtown.
The national average cost of solar panels is $2.66 per watt, but in Elizabethtown it's $2 per watt. Using this figure, a typical 9.5 would cost about $15,627 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. With average savings of about $16,000 on energy bills over 20 years, many homeowners in Elizabethtown find investing in solar can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Elizabethtown that can help you get a more accurate cost estimate for your home.
Solar savings over time in Elizabethtown
| Year | Return on Investment |
|---|---|
| 1 years | $-14,034 |
| 3 years | $-10,850 |
| 5 years | $-7,666 |
| 7 years | $-4,481 |
| 9 years | $-1,297 |
| 11 years | $1,887 |
| 13 years | $5,071 |
| 15 years | $8,256 |
| 17 years | $11,440 |
| 19 years | $14,624 |
| 21 years | $17,809 |
| 23 years | $20,993 |
| 25 years | $24,177 |
Top Solar Installers in Elizabethtown
When going solar, many homeowners opt to go with a solar company since putting up solar panels yourself can be a time-consuming project. Plus, if you're unsure what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our suggestions for providers near you:
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 Elizabethtown
Factors that Affect Solar Panel Costs in Elizabethtown
There are a number of criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,340 per kilowatt in Elizabethtown. The type of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Elizabethtown offer solar loans, which reduce the initial cost of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Elizabethtown, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that offers the products, warranties and services you're looking for and also fits within your budget.
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 | $14,811 | 10.2 years |
| 8 kW | $2.39 | $13,366 | $20,011 | 10.0 years |
| 10 kW | $2.34 | $16,380 | $25,341 | 9.8 years |
| 12 kW | $2.29 | $19,263 | $30,802 | 9.6 years |
| 14 kW | $2.25 | $22,015 | $36,394 | 9.4 years |
| 16 kW | $2.20 | $24,636 | $42,118 | 9.2 years |
| 18 kW | $2.15 | $27,125 | $47,972 | 9.0 years |
| 20 kW | $2.11 | $29,484 | $53,958 | 8.8 years |
How to Save on Solar Panels
The solar installer you opt for will influence 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 some important things you should consider, including:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: The type of solar panel you'd like to install plays a role in which company you should opt for, since different companies have access to different panels.
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 Elizabethtown, KY Solar Cost FAQs
How much does it cost to install solar panels in Elizabethtown?
The average cost of solar panels in Elizabethtown 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 like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Elizabethtown?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is it worth going solar in Elizabethtown?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage 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 buy 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.