Solar Panel Cost Guide in Elsmere, KY (Jan 2023)
- Elsmere Solar Installation Cost: $15,872
- 25-Year Savings: $20,512
- Payback Period: 10.9 Years
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Top Solar Installers in Elsmere
When going solar, many homeowners choose to hire a solar installation company since installing a solar system yourself can be a time-consuming project. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Elsmere
Factors that Affect Solar Panel Costs in Elsmere
For many Elsmere homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Elsmere, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
One of the most important 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 electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,340 per kilowatt in Elsmere. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Elsmere to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can impact how much you pay. Elsmere's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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||$12,308||11.3 years|
|8 kW||$2.39||$13,366||$16,673||11.1 years|
|10 kW||$2.34||$16,380||$21,168||10.9 years|
|12 kW||$2.29||$19,263||$25,795||10.7 years|
|14 kW||$2.25||$22,015||$30,553||10.5 years|
|16 kW||$2.20||$24,636||$35,442||10.3 years|
|18 kW||$2.15||$27,125||$40,462||10.0 years|
|20 kW||$2.11||$29,484||$45,613||9.8 years|
How to Save on Solar Panels
There are numerous companies to choose from in Elsmere, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a part in which company you should opt for, since different companies offer different panels.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
EcoWatch's Elsmere, KY Solar Cost FAQs
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.