Solar Panel Cost Guide in Hendron, KY (2024 Update)
- Hendron Solar Installation Cost: $23,586
- 25-Year Savings: $32,954
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Hendron
See how much it might cost to switch to solar power in Hendron.
The average cost of a solar system in Hendron is 4 per watt.To cover the typical energy needs of the average home in Hendron, most homeowners require a 9.2-kilowatt system. Using the figure above, a solar installation costs around $23,586, or $33,728 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Hendron homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $20,000 over 20 years on utility bills.
To get a free quote from a pre-vetted solar company in Hendron, you can click the button below.
Solar savings over time in Hendron
| Year | Return on Investment |
|---|---|
| 1 years | $-22,046 |
| 3 years | $-18,966 |
| 5 years | $-15,887 |
| 7 years | $-12,808 |
| 9 years | $-9,728 |
| 11 years | $-6,649 |
| 13 years | $-3,569 |
| 15 years | $-490 |
| 17 years | $2,590 |
| 19 years | $5,669 |
| 21 years | $8,748 |
| 23 years | $11,828 |
| 25 years | $14,907 |
Top Solar Installers in Hendron
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make your swap to solar power much easier. Another good thing about using a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Hendron
Factors that Affect Solar Panel Costs in Hendron
There are several factors that can affect your solar system 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
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $3,650 per kilowatt in Hendron.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Hendron, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to factor 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
A final factor to consider when trying to estimate the cost of solar for your home or business in Hendron is the company you hire to install your solar system. As with choosing a company to install new cabinets, for example, you’ll have many options for solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $15,304 | 12.8 years |
| 8 kW | $3.72 | $20,849 | $20,814 | 12.5 years |
| 10 kW | $3.65 | $25,550 | $26,529 | 12.3 years |
| 12 kW | $3.58 | $30,047 | $32,448 | 12.0 years |
| 14 kW | $3.50 | $34,339 | $38,571 | 11.8 years |
| 16 kW | $3.43 | $38,427 | $44,899 | 11.5 years |
| 18 kW | $3.36 | $42,311 | $51,431 | 11.3 years |
| 20 kW | $3.29 | $45,990 | $58,168 | 11.0 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Solar Panel Brands: Different companies offer various brands and models of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
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 Hendron, KY Solar Cost FAQs
How much does it cost to install solar panels in Hendron?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The initial 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 areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 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 replace them after having 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.