Solar Panel Cost Guide in Georgetown, KY (2025 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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Georgetown, the typical cost of a solar system is 4 per watt.The average Georgetown homeowner needs a 9.7-kilowatt system, which would cost about $24,659 with the federal tax credit, or $35,262 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar panels you choose, your solar contractor and more.But, once you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar installer in Georgetown for a quote for your home.
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
Although it's possible to install solar panels by yourself, it involves extra effort and handiness. That's one of the reasons most homeowners choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Georgetown
Factors that Affect Solar Panel Costs in Georgetown
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Georgetown: 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 panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher 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 $3,650.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 choose 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 in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Georgetown average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Georgetown homeowners choose to finance their solar panel systems to make paying for solar more affordable.While solar loans make going solar more accessible for Georgetown homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Georgetown, and each can charge varying amounts for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that provides the products, warranties and services you want and also is within your budget.
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 type of solar panels and the installation company you choose considerably impacts 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: Homeowners will have different preferences for panels based on their locations and energy needs. Although 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 make sure you take a look at their list of options before deciding.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for 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 expect 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?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.