Solar Panel Cost Guide in Elsmere, KY (2024 Update)

  • Elsmere Solar Installation Cost: $24,758
  • 25-Year Savings: $20,512
  • Payback Period: 17.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Elsmere

Find out what the average cost of solar panel installation is in Elsmere.

The national average cost of solar panels is $2.66 per watt, but in Elsmere it’s 4 per watt.Because a 9.7-kW system is needed to cover the energy costs of a typical home in Elsmere, the average price of going solar will be about $24,758 after claiming the federal solar tax credit of 0.

Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more.Despite the significant upfront cost, the average Elsmere homeowner can save around $14,000 on their energy bills over 20 years, which is one of the benefits of solar.

Click the button below to get connected to a highly rated solar installer in Elsmere for a custom quote.

Solar savings over time in Elsmere

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 Elsmere

When going solar, many homeowners opt to hire a solar installer since putting up a solar system yourself can be a difficult project. Plus, if you’d like to maximize your investment in solar energy, using a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.

If you're searching for a solar company in Elsmere, we've put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Elsmere

Factors that Affect Solar Panel Costs in Elsmere

Though the average cost of a solar system in Elsmere is $24,758, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The brand of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about 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

Many homeowners find the average cost of solar in Elsmere to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

The solar installation company you pick will impact your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Elsmere have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 $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

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:

  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
  • Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
  • Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Elsmere, KY Solar Cost FAQs

How much does it cost to install solar panels in Elsmere?

This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Elsmere?

You can’t get solar panels for free in Elsmere. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.

How much can I save on electricity bills after installing solar panels?

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 long do solar panels last in Elsmere?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose 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.

Follow us