Solar Panel Cost Guide in Shelbyville, KY (Mar 2023)
- Shelbyville Solar Installation Cost: $15,758
- 25-Year Savings: $22,230
- Payback Period: 10.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Shelbyville
Let's take a look at the average cost of solar panels in Shelbyville.
The average cost of a solar panel system in Shelbyville is 2.34 per watt. Using this figure, a typical 9.6-kW system would cost about $15,758 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs may vary based on your energy needs and what company you want to go with. With typical savings of about $15,000 on power bills over 20 years, many homeowners in Shelbyville find investing in solar has a decent ROI.
To get a free quote from a top solar installation company in Shelbyville, you can click the button below.
Solar savings over time in Shelbyville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,238 |
| 3 years | $-11,199 |
| 5 years | $-8,160 |
| 7 years | $-5,121 |
| 9 years | $-2,082 |
| 11 years | $957 |
| 13 years | $3,996 |
| 15 years | $7,035 |
| 17 years | $10,074 |
| 19 years | $13,113 |
| 21 years | $16,152 |
| 23 years | $19,191 |
| 25 years | $22,230 |
Top Solar Installers in Shelbyville
Many homeowners choose to hire a solar installation company since installing solar panels by yourself can be hard. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
If you're looking for a solar installer in Shelbyville, the EcoWatch team has put together 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 Shelbyville
Factors that Affect Solar Panel Costs in Shelbyville
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Shelbyville average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Shelbyville, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your total costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Shelbyville is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that provide a range of services at different costs. Additionally, some companies in Shelbyville 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 | $13,460 | 10.8 years |
| 8 kW | $2.39 | $13,366 | $18,208 | 10.6 years |
| 10 kW | $2.34 | $16,380 | $23,088 | 10.4 years |
| 12 kW | $2.29 | $19,263 | $28,099 | 10.2 years |
| 14 kW | $2.25 | $22,015 | $33,240 | 10.0 years |
| 16 kW | $2.20 | $24,636 | $38,513 | 9.8 years |
| 18 kW | $2.15 | $27,125 | $43,917 | 9.5 years |
| 20 kW | $2.11 | $29,484 | $49,452 | 9.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- 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.
- Solar Panel Brands: The model of solar panel you need to get plays a role in which company you should go with, since different companies provide different panels.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
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 Shelbyville, KY Solar Cost FAQs
What is the average cost of installing solar panels in Shelbyville?
This is a difficult question to answer precisely, 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Shelbyville?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future utility 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 Shelbyville?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.