Solar Panel Cost Guide in Frankfort, KY (2023 Update)
- Frankfort Solar Installation Cost: $15,774
- 25-Year Savings: $23,154
- Payback Period: 10.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Frankfort
See how much it might cost to switch to solar power in Frankfort.
While the national average of solar panels is $2.66 per watt, solar panels in Frankfort generally cost around 2.34. To cover the typical energy needs of the average home in Frankfort, most homeowners require a 9.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,774, or $22,557 before the federal solar tax credit of 30% is applied.
The true cost of your system can go higher or lower than the average in Frankfort depending on several factors, such as the type of solar panels you choose and the solar contractor you hire. With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Frankfort find going solar can be quite rewarding.
To receive a free quote from a pre-vetted solar company in Frankfort, you can click the button below.
Solar savings over time in Frankfort
| Year | Return on Investment |
|---|---|
| 1 years | $-14,217 |
| 3 years | $-11,103 |
| 5 years | $-7,988 |
| 7 years | $-4,874 |
| 9 years | $-1,760 |
| 11 years | $1,354 |
| 13 years | $4,468 |
| 15 years | $7,583 |
| 17 years | $10,697 |
| 19 years | $13,811 |
| 21 years | $16,925 |
| 23 years | $20,039 |
| 25 years | $23,154 |
Top Solar Installers in Frankfort
Although it's possible to install solar panels by yourself, it involves extra energy and know-how. That's why most homeowners choose a solar panel installer. The expertise that solar companies offer can be valuable as well, especially if you don't quite know what brand of solar equipment you need.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
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 Frankfort
Factors that Affect Solar Panel Costs in Frankfort
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Frankfort: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need 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. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Frankfort average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Frankfort homeowners opt to finance their solar panel systems to make going solar more affordable. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Frankfort is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $14,030 | 10.5 years |
| 8 kW | $2.39 | $13,366 | $18,969 | 10.3 years |
| 10 kW | $2.34 | $16,380 | $24,039 | 10.1 years |
| 12 kW | $2.29 | $19,263 | $29,240 | 9.9 years |
| 14 kW | $2.25 | $22,015 | $34,572 | 9.7 years |
| 16 kW | $2.20 | $24,636 | $40,035 | 9.5 years |
| 18 kW | $2.15 | $27,125 | $45,629 | 9.3 years |
| 20 kW | $2.11 | $29,484 | $51,354 | 9.1 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 select the right company for you, here are some tips to keep in mind:
- Installation Process: One of the most important things to understand when going solar 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 secure and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
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 Frankfort, KY Solar Cost FAQs
How much does it cost to install solar panels in Frankfort?
This is a hard question to answer precisely, because the cost depends on a few different 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $808.38 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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 install between 20 and 35 panels to account for 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.