Solar Panel Cost Guide in Independence, KY (2023 Update)
- Independence Solar Installation Cost: $15,872
- 25-Year Savings: $20,512
- Payback Period: 10.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Independence
See how much it might cost to go solar in Independence.
The average cost of a solar system in Independence is 2.34 per watt. Since a 9.7-kW system is needed to cover the energy usage of a typical home in Independence, the average price of going solar will be about $15,872 after claiming the federal solar tax credit of 30%.
How much you pay can go above or below the average in Independence depending on a few factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find going solar is a sound investment. The average homeowner in Independence can save about $14,000 on their electricity bills over 20 years.
To receive a free quote from a highly rated solar installer in Independence, you can click the button below.
Solar savings over time in Independence
| Year | Return on Investment |
|---|---|
| 1 years | $-14,677 |
| 3 years | $-12,288 |
| 5 years | $-9,899 |
| 7 years | $-7,510 |
| 9 years | $-5,120 |
| 11 years | $-2,731 |
| 13 years | $-342 |
| 15 years | $2,047 |
| 17 years | $4,437 |
| 19 years | $6,826 |
| 21 years | $9,215 |
| 23 years | $11,605 |
| 25 years | $13,994 |
Top Solar Installers in Independence
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make switching to solar power much easier. The expertise that solar installers provide can be useful as well, especially if you don't quite know what brand of solar equipment would be right for your home.
You can get a free quote from a local solar installer on how much your investment in solar could cost 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 Independence
Factors that Affect Solar Panel Costs in Independence
The cost of installing a solar system in Independence can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Independence, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a role in determining the cost. Independence's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting 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 | $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 |
How to Save on Solar Panels
The solar panel company you choose will impact 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 a few important things you should consider, such as:
- Solar Panel Brands: The type of solar panel you need to install plays a role in which installer you should go with, since different companies have access to different panels.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
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 Independence, KY Solar Cost FAQs
How much does it cost to install solar panels in Independence?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Independence?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 house 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.