Solar Panel Cost Guide in Frankfort, KY (2024 Update)
- Frankfort Solar Installation Cost: $24,607
- 25-Year Savings: $23,152
- Payback Period: 15.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated February 03, 2024
Why you can trust EcoWatch
Average Cost of Solar Panels in Frankfort
Let’s take a look at the average cost of solar panels in Frankfort.
The average cost of solar panels in Frankfort is 4 per watt.Using this figure, a typical 9.6-kW system would cost about $24,607 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Frankfort homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar installer in Frankfort that can help you get a more accurate cost estimate for your home.
Solar savings over time in Frankfort
Year | Return on Investment |
---|---|
1 years | $-23,237 |
3 years | $-20,496 |
5 years | $-17,756 |
7 years | $-15,015 |
9 years | $-12,274 |
11 years | $-9,534 |
13 years | $-6,793 |
15 years | $-4,052 |
17 years | $-1,312 |
19 years | $1,429 |
21 years | $4,169 |
23 years | $6,910 |
25 years | $9,651 |
Top Solar Installers in Frankfort
Trying to put up solar panels yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. Another advantage of using a solar company is that they can help you make the most of your return of investment by lowering your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
If you're searching for a solar installer in Frankfort, we've compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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
Even though the average cost of a solar system in Frankfort is $24,607, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of solar panels in Frankfort, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.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. However, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Frankfort average.
Solar Financing Terms
Most solar installers in Frankfort provide solar loans, which reduce your upfront costs of installing solar.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Frankfort are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $3.80 | $15,943 | $8,308 | 16.4 years |
8 kW | $3.72 | $20,849 | $11,486 | 16.1 years |
10 kW | $3.65 | $25,550 | $14,869 | 15.8 years |
12 kW | $3.58 | $30,047 | $18,456 | 15.5 years |
14 kW | $3.50 | $34,339 | $22,248 | 15.2 years |
16 kW | $3.43 | $38,427 | $26,243 | 14.9 years |
18 kW | $3.36 | $42,311 | $30,444 | 14.5 years |
20 kW | $3.29 | $45,990 | $34,848 | 14.2 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
Best National Provider
SunPower
- 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
- 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
What is the average cost of installing solar panels in Frankfort?
This is a hard question to answer exactly, because the cost depends on many 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-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.
Is it better to lease or buy solar panels in Frankfort?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.