Solar Panel Cost Guide in Lawrenceburg, KY (Jan 2023)

  • Lawrenceburg Solar Installation Cost: $15,774
  • 25-Year Savings: $22,025
  • Payback Period: 10.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lawrenceburg

See how much it might cost to switch to solar power in Lawrenceburg.

Although the national average of solar panels is $2.66 per watt, solar panels in Lawrenceburg generally cost about $2. The average solar panel system size in Lawrenceburg is around 9.6 kilowatts, meaning a cost of about $15,774 for a solar installation, or $11,673 after the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you choose, your solar contractor and more. Despite the high initial cost, the average Lawrenceburg homeowner can save around $15,000 on their electricity bills over 20 years, which is one of the advantages of solar.

Click the button below to get connected to a top solar panel company in Lawrenceburg for a customized estimate.

Solar savings over time in Lawrenceburg

Year Return on Investment
1 years $-14,262
3 years $-11,238
5 years $-8,214
7 years $-5,190
9 years $-2,166
11 years $858
13 years $3,881
15 years $6,905
17 years $9,929
19 years $12,953
21 years $15,977
23 years $19,001
25 years $22,025

Top Solar Installers in Lawrenceburg

Do-it-yourself 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. Hiring an installer can make swapping over to solar power much easier. Another advantage of going with a solar company is that they can help you make the most of your return of investment by cutting back on future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.

If you're on the hunt for a solar installer in Lawrenceburg, the EcoWatch team has organized a list of our top suggestions here:

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

Tesla Energy

★★★★★
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 Lawrenceburg

Factors that Affect Solar Panel Costs in Lawrenceburg

Even though the average cost of a solar system in Lawrenceburg is $15,774, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require 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 $2,340. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Lawrenceburg, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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

Many homeowners find the average cost of solar in Lawrenceburg to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. 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 original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

The solar panel installer you choose will impact your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Lawrenceburg know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 $13,340 10.8 years
8 kW $2.39 $13,366 $18,049 10.6 years
10 kW $2.34 $16,380 $22,888 10.4 years
12 kW $2.29 $19,263 $27,859 10.2 years
14 kW $2.25 $22,015 $32,961 10.0 years
16 kW $2.20 $24,636 $38,194 9.8 years
18 kW $2.15 $27,125 $43,558 9.6 years
20 kW $2.11 $29,484 $49,053 9.4 years

How to Save on Solar Panels

The solar company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:

  • Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
  • Solar Panel Brands: The type of solar panel you need to get plays a role in which installer you should go with, since different companies offer different panels.
  • Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • 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 most likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.

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

Tesla Energy

★★★★★
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 Lawrenceburg, KY Solar Cost FAQs

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

The average cost of solar panels in Lawrenceburg is about $11,700 for a 5-kW system and $23,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Lawrenceburg?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 financial benefits from going solar.

Can solar panels eliminate my electricity bills?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Lawrenceburg, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.

How long do solar panels last in Lawrenceburg?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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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