Solar Panel Cost Guide in Independence, KY (Mar 2023)
- Independence Solar Installation Cost: $15,872
- 25-Year Savings: $20,512
- Payback Period: 10.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Independence
Find out what the average cost of a solar system is in Independence.
The national average cost of solar panels is $2.66 per watt, but in Independence it's 2.34 per watt. Because a 9.7-kW system is needed to cover the energy costs 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%.
The true cost of your system can go higher or lower than the average in Independence depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. But, once you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on utility bills.
Click the button below to get connected to a highly rated solar installer in Independence for a customized estimate.
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
Many homeowners choose to hire a solar panel company since trying to install solar panels yourself can be challenging. The expertise that solar companies provide can be valuable as well, particularly if you don't quite know what type of solar equipment you need.
If you're searching for a solar installer in Independence, the EcoWatch team has organized a list of our top suggestions here:
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 Independence
Factors that Affect Solar Panel Costs in Independence
While the average cost of a solar system in Independence is $15,872, your final cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Independence, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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 panels out of pocket can be difficult. Solar loans are offered by most installers in Independence, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your overall costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you pick will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 | $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
There are a lot of companies to choose from in Independence, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
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 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 stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Independence?
You can't get solar panels for free in Independence. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Independence, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.