Solar Panel Cost Guide in Farley, KY (2023 Update)
- Farley Solar Installation Cost: $15,119
- 25-Year Savings: $32,956
- Payback Period: 7.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Farley
Here's how much it might cost to go solar in Farley.
In Farley, solar panels cost about 2.34 per watt on average. The average solar panel system size in Farley is around 9.2 kilowatts, meaning a cost of about $15,119 for a solar installation, or $21,620 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 exact cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. Even with the significant initial cost, the average Farley homeowner can save about $20,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Farley
| Year | Return on Investment |
|---|---|
| 1 years | $-13,196 |
| 3 years | $-9,350 |
| 5 years | $-5,504 |
| 7 years | $-1,658 |
| 9 years | $2,188 |
| 11 years | $6,034 |
| 13 years | $9,880 |
| 15 years | $13,726 |
| 17 years | $17,572 |
| 19 years | $21,418 |
| 21 years | $25,264 |
| 23 years | $29,110 |
| 25 years | $32,956 |
Top Solar Installers in Farley
Although it's possible to install solar panels by yourself, it takes extra labor and handiness. For that reason, the majority of homeowners choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over the lifespan of your panels.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers near you:
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 Farley
Factors that Affect Solar Panel Costs in Farley
For many Farley homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Farley, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,340. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Farley average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. Even though solar loans make adopting solar energy more accessible for Farley homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Farley, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $21,026 | 8.2 years |
| 8 kW | $2.39 | $13,366 | $28,297 | 8.0 years |
| 10 kW | $2.34 | $16,380 | $35,699 | 7.9 years |
| 12 kW | $2.29 | $19,263 | $43,232 | 7.7 years |
| 14 kW | $2.25 | $22,015 | $50,896 | 7.5 years |
| 16 kW | $2.20 | $24,636 | $58,691 | 7.4 years |
| 18 kW | $2.15 | $27,125 | $66,617 | 7.2 years |
| 20 kW | $2.11 | $29,484 | $74,674 | 7.1 years |
How to Save on Solar Panels
There are numerous companies available in Farley, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which installer you should go with, since different companies have access to different panels.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Farley, KY Solar Cost FAQs
What is the average cost of installing solar panels in Farley?
The average cost of solar panels in Farley 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 model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Farley?
You can't get solar panels for free in Farley. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Farley?
Most states offer net metering programs of some kind. Through these, you can either 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.