Solar Panel Cost Guide in Harrodsburg, KY (2024 Update)
- Harrodsburg Solar Installation Cost: $24,585
- 25-Year Savings: $22,490
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Harrodsburg
Find out how much it might cost to install solar panels in Harrodsburg.
In Harrodsburg, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Harrodsburg, most homeowners require a 9.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $24,585, or $35,157 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Harrodsburg homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find going solar is a solid investment. The average homeowner in Harrodsburg can save around $15,000 on their power bills over 20 years.
Click the button below to get connected to a top solar company in Harrodsburg for a customized quote.
Solar savings over time in Harrodsburg
| Year | Return on Investment |
|---|---|
| 1 years | $-23,206 |
| 3 years | $-20,448 |
| 5 years | $-17,690 |
| 7 years | $-14,933 |
| 9 years | $-12,175 |
| 11 years | $-9,417 |
| 13 years | $-6,659 |
| 15 years | $-3,901 |
| 17 years | $-1,144 |
| 19 years | $1,614 |
| 21 years | $4,372 |
| 23 years | $7,130 |
| 25 years | $9,887 |
Top Solar Installers in Harrodsburg
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be challenging. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be right for your family.
If you're searching for a solar installer in Harrodsburg, we've organized a list of our top suggestions here:
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 Harrodsburg
Factors that Affect Solar Panel Costs in Harrodsburg
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Harrodsburg: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Harrodsburg, 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 determine by looking at past energy bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost 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, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Harrodsburg average.
Solar Financing Terms
Many homeowners find the average cost of solar in Harrodsburg to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Harrodsburg is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different costs.Some companies only sell products with high efficiency and therefore a higher price point — 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’re looking for and also fit into 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 | $7,909 | 16.7 years |
| 8 kW | $3.72 | $20,849 | $10,954 | 16.4 years |
| 10 kW | $3.65 | $25,550 | $14,203 | 16.1 years |
| 12 kW | $3.58 | $30,047 | $17,657 | 15.7 years |
| 14 kW | $3.50 | $34,339 | $21,315 | 15.4 years |
| 16 kW | $3.43 | $38,427 | $25,178 | 15.1 years |
| 18 kW | $3.36 | $42,311 | $29,245 | 14.8 years |
| 20 kW | $3.29 | $45,990 | $33,516 | 14.5 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 find the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the endurance of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
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 Harrodsburg, KY Solar Cost FAQs
How much does it cost to install solar panels in Harrodsburg?
The average cost of solar panels in Harrodsburg 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 such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Harrodsburg?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How will installing solar panels impact the value of my home?
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 Harrodsburg is currently $194,580, so you can expect a value of about $7,978 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Harrodsburg is a worthwhile investment.
How long do solar panels last in Harrodsburg?
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 their energy production 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.