Solar Panel Cost Guide in Henderson, KY (Mar 2023)
- Henderson Solar Installation Cost: $15,397
- 25-Year Savings: $28,035
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Henderson
Let's take a look at the average cost of solar panels in Henderson.
While the national average of solar panels is $2.66 per watt, solar panels in Henderson typically cost about 2.34. To cover the typical energy needs of the average home in Henderson, most homeowners require a 9.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,397, or $22,018 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit depending on a few factors, such as what size system you need, your energy usage and what solar installer you go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Henderson can save around $18,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Henderson that can help you get a more accurate cost estimate for your home.
Solar savings over time in Henderson
| Year | Return on Investment |
|---|---|
| 1 years | $-13,660 |
| 3 years | $-10,185 |
| 5 years | $-6,711 |
| 7 years | $-3,236 |
| 9 years | $238 |
| 11 years | $3,713 |
| 13 years | $7,188 |
| 15 years | $10,662 |
| 17 years | $14,137 |
| 19 years | $17,612 |
| 21 years | $21,086 |
| 23 years | $24,561 |
| 25 years | $28,035 |
Top Solar Installers in Henderson
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar company can make your switch to solar power much easier. Local solar companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 a number of factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have 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 $2,340. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Henderson, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Henderson, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Henderson, and each can charge different amounts for labor and equipment. Additionally, some companies in Henderson know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $2.43 | $10,221 | $17,515 | 9.2 years |
| 8 kW | $2.39 | $13,366 | $23,616 | 9.0 years |
| 10 kW | $2.34 | $16,380 | $29,847 | 8.9 years |
| 12 kW | $2.29 | $19,263 | $36,210 | 8.7 years |
| 14 kW | $2.25 | $22,015 | $42,704 | 8.5 years |
| 16 kW | $2.20 | $24,636 | $49,328 | 8.3 years |
| 18 kW | $2.15 | $27,125 | $56,084 | 8.1 years |
| 20 kW | $2.11 | $29,484 | $62,971 | 8.0 years |
How to Save on Solar Panels
There are a large number of companies available in Henderson, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While 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 ask for their list of offerings before making your decision.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar company, make sure to look it over carefully 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.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will having 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 Henderson is currently $130,982, which means you can look forward to a value of about $5,370 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Henderson is a worthwhile investment.
How often do you have to replace solar panels?
Although 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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.