Solar Panel Cost Guide in Georgetown, KY (2024 Update)
- Georgetown Solar Installation Cost: $24,659
- 25-Year Savings: $23,676
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Georgetown
We go over average solar pricing in Georgetown.
In Georgetown, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Georgetown, most homeowners require a 9.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $24,659, or $35,262 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Georgetown based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.Despite the large upfront cost, the average Georgetown homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar installer in your area for a custom quote.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-23,280 |
| 3 years | $-20,522 |
| 5 years | $-17,764 |
| 7 years | $-15,006 |
| 9 years | $-12,249 |
| 11 years | $-9,491 |
| 13 years | $-6,733 |
| 15 years | $-3,975 |
| 17 years | $-1,218 |
| 19 years | $1,540 |
| 21 years | $4,298 |
| 23 years | $7,056 |
| 25 years | $9,814 |
Top Solar Installers in Georgetown
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make switching to solar power much easier. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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 Georgetown
Factors that Affect Solar Panel Costs in Georgetown
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Georgetown: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production 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 $3,650.There are a lot of different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Georgetown, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your total costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can impact the cost. Georgetown’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more 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 promotion can bring their pricing lower 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 | $3.80 | $15,943 | $8,604 | 16.2 years |
| 8 kW | $3.72 | $20,849 | $11,881 | 15.9 years |
| 10 kW | $3.65 | $25,550 | $15,362 | 15.6 years |
| 12 kW | $3.58 | $30,047 | $19,048 | 15.3 years |
| 14 kW | $3.50 | $34,339 | $22,938 | 15.0 years |
| 16 kW | $3.43 | $38,427 | $27,032 | 14.7 years |
| 18 kW | $3.36 | $42,311 | $31,331 | 14.4 years |
| 20 kW | $3.29 | $45,990 | $35,834 | 14.1 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose significantly influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The model of solar panel you want to get plays a part in which company you should choose, since different companies provide different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Georgetown, KY Solar Cost FAQs
How much does it cost to install solar panels in Georgetown?
The average cost of solar panels in Georgetown is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Georgetown?
You can’t get solar panels for free in Georgetown. 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 will solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Georgetown is currently $292,684, which means you can look forward to a value of about $12,000 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Georgetown is a rewarding investment.
How long do solar panels last in Georgetown?
Though 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 how much energy they produce will have decreased significantly after that point. You can 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.