Solar Panel Cost Guide in Nicholasville, KY (Feb 2023)

  • Nicholasville Solar Installation Cost: $15,807
  • 25-Year Savings: $21,774
  • Payback Period: 10.5 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

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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 Nicholasville

Let's take a look at the average cost of solar panels in Nicholasville.

In Nicholasville, solar panels cost about $2 per watt on average. Because a 9.7-kW system is needed to cover the energy needs of a typical home in Nicholasville, the average price of going solar will be about $15,807 before claiming the federal solar tax credit of 30%.

Bear in mind that the figures above are only estimates based on the average Nicholasville homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on utility bills.

For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Nicholasville

Year Return on Investment
1 years $-14,303
3 years $-11,297
5 years $-8,291
7 years $-5,284
9 years $-2,278
11 years $729
13 years $3,735
15 years $6,742
17 years $9,748
19 years $12,755
21 years $15,761
23 years $18,768
25 years $21,774

Top Solar Installers in Nicholasville

When going solar, many homeowners decide to use a solar company since overseeing your solar installation yourself can be a difficult project. Plus, if you'd like to maximize your investment in solar power, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.

If you're searching for a solar company in Nicholasville, we've 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 Nicholasville

Factors that Affect Solar Panel Costs in Nicholasville

There are several factors that can influence 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 panels.

Solar Equipment

When it comes to estimating the cost of a solar system in Nicholasville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,340 for each additional kilowatt you need. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a 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 add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Nicholasville, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. Though solar loans make going solar more accessible for Nicholasville homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Nicholasville, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.

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 $13,143 10.9 years
8 kW $2.39 $13,366 $17,785 10.7 years
10 kW $2.34 $16,380 $22,559 10.5 years
12 kW $2.29 $19,263 $27,464 10.3 years
14 kW $2.25 $22,015 $32,500 10.1 years
16 kW $2.20 $24,636 $37,668 9.9 years
18 kW $2.15 $27,125 $42,966 9.7 years
20 kW $2.11 $29,484 $48,395 9.5 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:

  • Solar Panel Brands: Different companies will carry different brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
  • Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.

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 Nicholasville, KY Solar Cost FAQs

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

The average cost of solar panels in Nicholasville 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 kind of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider apart from cost when buying solar panels?

Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

Does Nicholasville have a net metering program?

Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Nicholasville?

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