Solar Panel Cost Guide in London, KY (Jan 2023)
- London Solar Installation Cost: $15,741
- 25-Year Savings: $24,764
- Payback Period: 9.7 Years
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Top Solar Installers in London
Although it's possible to install solar panels yourself, it requires extra time and knowledge. That's why most homeowners choose a solar panel installer. The expertise that solar installers offer can be helpful as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
If you're looking for a solar company in London, we've put together a list of our top suggestions here:
See all of the solar companies in London
Factors that Affect Solar Panel Costs in London
While the average cost of a solar system in London is $15,741, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like London, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
If paying for a solar system out of pocket is out of reach, solar loans are an affordable option because they lower your upfront costs and allow you to 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 APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect how much it costs. London's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in London are more knowledgeable about local solar incentives and can help you take advantage 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||$15,066||10.1 years|
|8 kW||$2.39||$13,366||$20,351||9.9 years|
|10 kW||$2.34||$16,380||$25,766||9.7 years|
|12 kW||$2.29||$19,263||$31,312||9.5 years|
|14 kW||$2.25||$22,015||$36,989||9.3 years|
|16 kW||$2.20||$24,636||$42,798||9.1 years|
|18 kW||$2.15||$27,125||$48,737||8.9 years|
|20 kW||$2.11||$29,484||$54,808||8.7 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. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- 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 considerable role in the company you opt for.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the completion timeline.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
EcoWatch's London, KY Solar Cost FAQs
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.