Solar Panel Cost Guide in Henderson, KY (2024 Update)
- Henderson Solar Installation Cost: $24,005
- 25-Year Savings: $28,043
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Henderson
Here’s how much it might cost to install solar panels in Henderson.
The average cost of a solar panel system in Henderson is 4 per watt.Since a 9.4-kW system is needed to cover the energy usage of a typical home in Henderson, the average price of going solar will be about $24,005 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Henderson homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $18,000 on power bills over 20 years, many homeowners in Henderson find investing in solar can be quite rewarding.
To receive a free quote from a vetted solar company in Henderson, you can click the button below.
Solar savings over time in Henderson
| Year | Return on Investment |
|---|---|
| 1 years | $-22,763 |
| 3 years | $-20,277 |
| 5 years | $-17,792 |
| 7 years | $-15,307 |
| 9 years | $-12,822 |
| 11 years | $-10,337 |
| 13 years | $-7,852 |
| 15 years | $-5,367 |
| 17 years | $-2,882 |
| 19 years | $-397 |
| 21 years | $2,088 |
| 23 years | $4,573 |
| 25 years | $7,058 |
Top Solar Installers in Henderson
Although you can install solar panels on your own, it takes extra energy and knowledge. For that reason, almost all homeowners choose to go with a solar panel installer. Since solar panels are exposed to temperature swings and extreme weather, 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 help you make the most of your investment in solar. 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 Henderson
Factors that Affect Solar Panel Costs in Henderson
There are several factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Henderson, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Henderson to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to 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 APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose will affect 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 Henderson know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $11,793 | 14.4 years |
| 8 kW | $3.72 | $20,849 | $16,133 | 14.1 years |
| 10 kW | $3.65 | $25,550 | $20,677 | 13.8 years |
| 12 kW | $3.58 | $30,047 | $25,426 | 13.5 years |
| 14 kW | $3.50 | $34,339 | $30,379 | 13.3 years |
| 16 kW | $3.43 | $38,427 | $35,537 | 13.0 years |
| 18 kW | $3.36 | $42,311 | $40,898 | 12.7 years |
| 20 kW | $3.29 | $45,990 | $46,465 | 12.4 years |
How to Save on Solar Panels
The solar installer you go with 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 take into account, such as:
- Contract: Before signing a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
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 Henderson, KY Solar Cost FAQs
How much does it cost to install solar panels in Henderson?
The average cost of solar panels in Henderson is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Henderson?
You can’t get solar panels for free in Henderson. 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.
Can you sell solar power back to the grid in Henderson?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
Even 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 opt to 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.