Solar Panel Cost Guide in Greenville, KY (2024 Update)
- Greenville Solar Installation Cost: $23,944
- 25-Year Savings: $14,889
- Payback Period: 19.8 Years
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Average Cost of Solar Panels in Greenville
We break down average solar pricing in Greenville.
In Greenville, solar panels cost about 4 per watt on average.Because a 9.4-kW system is needed to cover the energy needs of a typical home in Greenville, the average price of going solar will be about $23,944 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary based on a few factors, such as what size system you need, your energy usage and what company you go with.Even with the large initial cost, the average Greenville homeowner can save around $13,000 on their energy bills over 20 years, which is one of the positives of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Greenville
| Year | Return on Investment |
|---|---|
| 1 years | $-22,565 |
| 3 years | $-19,807 |
| 5 years | $-17,049 |
| 7 years | $-14,292 |
| 9 years | $-11,534 |
| 11 years | $-8,776 |
| 13 years | $-6,018 |
| 15 years | $-3,260 |
| 17 years | $-503 |
| 19 years | $2,255 |
| 21 years | $5,013 |
| 23 years | $7,771 |
| 25 years | $10,528 |
Top Solar Installers in Greenville
When making the switch to solar, many homeowners opt to hire a solar installer since overseeing your solar installation yourself can be a difficult project. Some solar installers, especially local ones, can help you take advantage of incentives in Greenville, thereby optimizing your ROI.
If you're searching for a solar company in Greenville, the EcoWatch team has organized 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 Greenville
Factors that Affect Solar Panel Costs in Greenville
While the average cost of a solar system in Greenville is $23,944, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar energy system in Greenville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past power bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.The model of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Greenville homeowners choose to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installation company you choose will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $3,417 | 20.6 years |
| 8 kW | $3.72 | $20,849 | $4,965 | 20.2 years |
| 10 kW | $3.65 | $25,550 | $6,718 | 19.8 years |
| 12 kW | $3.58 | $30,047 | $8,675 | 19.4 years |
| 14 kW | $3.50 | $34,339 | $10,836 | 19.0 years |
| 16 kW | $3.43 | $38,427 | $13,201 | 18.6 years |
| 18 kW | $3.36 | $42,311 | $15,771 | 18.2 years |
| 20 kW | $3.29 | $45,990 | $18,546 | 17.8 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: The type of solar panel you need to install plays a role in which installer you should opt for, since different companies have access to different panels.
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 Greenville, KY Solar Cost FAQs
How much does it cost to install solar panels in Greenville?
The average cost of solar panels in Greenville 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Greenville?
You can’t get solar panels for free in Greenville. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Greenville?
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 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.