Solar Panel Cost Guide in Independence, KY (Oct 2022)

  • Independence Solar Installation Cost: $15,872
  • 25-Year Savings: $20,512
  • Payback Period: 10.9 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Independence

Find out what the average cost of a solar system is in Independence.

While the national average of solar panels is $2.66 per watt, solar panels in Independence typically cost about $2. Using this figure, a typical 9.7 would cost about $15,872 before the 30% federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average Independence homeowner. 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. But, after you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on electricity bills.

Click the button below to get connected to a top solar company in Independence for a personalized quote.

Solar savings over time in Independence

Year Return on Investment
1 years $-14,417
3 years $-11,506
5 years $-8,595
7 years $-5,685
9 years $-2,774
11 years $137
13 years $3,048
15 years $5,958
17 years $8,869
19 years $11,780
21 years $14,691
23 years $17,602
25 years $20,512

Top Solar Installers in Independence

Although it's possible to install solar panels on your own, it requires extra labor and expertise. Because of that, almost all homeowners choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.

Working with a vetted solar company can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Independence

Factors that Affect Solar Panel Costs in Independence

There are a number of factors that can determine your solar panel 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 Size

The size of the system you need is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

If paying for a solar system in cash is out of reach, solar loans are a solid choice because they decrease your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.

Solar Panel Installation Company

The solar installer you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Independence, and each can charge different amounts for labor and equipment. Additionally, some companies in Independence have more knowledge 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 end up saving you 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 $12,308 11.3 years
8 kW $2.39 $13,366 $16,673 11.1 years
10 kW $2.34 $16,380 $21,168 10.9 years
12 kW $2.29 $19,263 $25,795 10.7 years
14 kW $2.25 $22,015 $30,553 10.5 years
16 kW $2.20 $24,636 $35,442 10.3 years
18 kW $2.15 $27,125 $40,462 10.0 years
20 kW $2.11 $29,484 $45,613 9.8 years

Solar Incentives in Independence

Name Duke Energy - Residential Efficiency Rebate Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:

  • Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
  • Solar Panel Brands: Different companies offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Independence, KY Solar Cost FAQs

What is the average cost of installing solar panels in Independence?

The average cost of solar panels in Independence is about $11,700 for a 5-kW system and $23,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in Independence?

A solar panel system isn't free in Independence, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Is making the switch to solar worth it?

Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.

How many solar panels do I need to power my home?

To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.

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