Solar Panel Cost Guide in Francisville, KY (2023 Update)
- Francisville Solar Installation Cost: $15,839
- 25-Year Savings: $20,545
- Payback Period: 10.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Francisville
Find out what the average cost of solar panels are in Francisville.
The national average cost of solar panels is $2.66 per watt, but in Francisville it's 2.34 per watt. Because a 9.7-kW system is needed to cover the energy consumption of a typical home in Francisville, the average price of going solar will be about $15,839 after claiming the federal solar tax credit of 30%.
How much you pay can go higher or lower than the average in Francisville based on several factors, such as the type of solar panels you choose and the solar installer you hire. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Francisville can save about $14,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Francisville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Francisville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,384 |
| 3 years | $-11,473 |
| 5 years | $-8,563 |
| 7 years | $-5,652 |
| 9 years | $-2,741 |
| 11 years | $170 |
| 13 years | $3,080 |
| 15 years | $5,991 |
| 17 years | $8,902 |
| 19 years | $11,813 |
| 21 years | $14,724 |
| 23 years | $17,634 |
| 25 years | $20,545 |
Top Solar Installers in Francisville
Although you can install solar panels on your own, it involves extra time and expertise. That's why most homeowners choose to hire a solar panel installer. The expertise that solar companies provide can be useful as well, especially if you aren't sure what kind of solar equipment would be right for your home.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Francisville
Factors that Affect Solar Panel Costs in Francisville
For many Francisville homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Francisville, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,340. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Francisville, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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 utility bills over time, but they can also be a significant investment. That's why many Francisville homeowners decide to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Francisville, and each can charge varying amounts for labor and equipment. Additionally, some companies in Francisville have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $2.43 | $10,221 | $12,357 | 11.3 years |
| 8 kW | $2.39 | $13,366 | $16,739 | 11.1 years |
| 10 kW | $2.34 | $16,380 | $21,251 | 10.9 years |
| 12 kW | $2.29 | $19,263 | $25,894 | 10.7 years |
| 14 kW | $2.25 | $22,015 | $30,669 | 10.4 years |
| 16 kW | $2.20 | $24,636 | $35,574 | 10.2 years |
| 18 kW | $2.15 | $27,125 | $40,610 | 10.0 years |
| 20 kW | $2.11 | $29,484 | $45,778 | 9.8 years |
How to Save on Solar Panels
There are a lot of 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:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
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 Francisville, KY Solar Cost FAQs
How much does it cost to install solar panels in Francisville?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Francisville?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 financial benefits from going solar.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Francisville?
On average, solar panels can last 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 larger amount 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.