Solar Panel Cost Guide in Hopkinsville, KY (2024 Update)
- Hopkinsville Solar Installation Cost: $23,892
- 25-Year Savings: $7,322
- Payback Period: 26.4 Years
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Average Cost of Solar Panels in Hopkinsville
See how much it might cost to go solar in Hopkinsville.
The national average cost of solar panels is $2.66 per watt, but in Hopkinsville it’s 4 per watt.Since a 9.4-kW system is needed to cover the energy needs of a typical home in Hopkinsville, the average price of going solar will be about $23,892 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Hopkinsville homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the large initial cost, the average Hopkinsville homeowner can save about $9,700 on their energy bills over 20 years, which is one of the perks of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hopkinsville
| Year | Return on Investment |
|---|---|
| 1 years | $-22,430 |
| 3 years | $-19,506 |
| 5 years | $-16,582 |
| 7 years | $-13,657 |
| 9 years | $-10,733 |
| 11 years | $-7,809 |
| 13 years | $-4,885 |
| 15 years | $-1,960 |
| 17 years | $964 |
| 19 years | $3,888 |
| 21 years | $6,812 |
| 23 years | $9,737 |
| 25 years | $12,661 |
Top Solar Installers in Hopkinsville
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make your switch to solar power much easier. Another great thing about using a vetted solar installer is that it'll provide warranties and free repairs, which help protect your investment.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Hopkinsville
Factors that Affect Solar Panel Costs in Hopkinsville
There are many factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use 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 $3,650.There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Hopkinsville, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.It’s wise 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
Finally, the company you choose to install your solar panel system can play a part in determining your pricing. Hopkinsville’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $-1,417 | 27.4 years |
| 8 kW | $3.72 | $20,849 | $-1,481 | 26.9 years |
| 10 kW | $3.65 | $25,550 | $-1,340 | 26.4 years |
| 12 kW | $3.58 | $30,047 | $-995 | 25.9 years |
| 14 kW | $3.50 | $34,339 | $-446 | 25.3 years |
| 16 kW | $3.43 | $38,427 | $308 | 24.8 years |
| 18 kW | $3.36 | $42,311 | $1,266 | 24.3 years |
| 20 kW | $3.29 | $45,990 | $2,429 | 23.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though 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 be sure to take a look at their list of offerings before making your decision.
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 Hopkinsville, KY Solar Cost FAQs
What is the average cost of installing solar panels in Hopkinsville?
The average cost of solar panels in Hopkinsville 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 such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Hopkinsville?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Hopkinsville have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.