Solar Panel Cost Guide in Shelbyville, KY (2024 Update)
- Shelbyville Solar Installation Cost: $24,592
- 25-Year Savings: $22,222
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Shelbyville
Let’s take a look at the average cost of solar in Shelbyville.
The national average cost of solar panels is $2.66 per watt, but in Shelbyville it’s 4 per watt.Using this figure, a typical 9.6-kW system would cost about $24,592 before the 0 federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely differ based on the amount of energy your home requires and what company you choose to go with.With average savings of about $15,000 on utility bills over 20 years, many homeowners in Shelbyville find going solar can pay off big.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Shelbyville
| Year | Return on Investment |
|---|---|
| 1 years | $-23,213 |
| 3 years | $-20,455 |
| 5 years | $-17,697 |
| 7 years | $-14,939 |
| 9 years | $-12,182 |
| 11 years | $-9,424 |
| 13 years | $-6,666 |
| 15 years | $-3,908 |
| 17 years | $-1,150 |
| 19 years | $1,607 |
| 21 years | $4,365 |
| 23 years | $7,123 |
| 25 years | $9,881 |
Top Solar Installers in Shelbyville
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be a labor-intensive endeavor. The expertise that solar companies provide can be useful as well, particularly if you aren’t sure what brand of solar equipment would be right for your home.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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
Even though the average cost of a solar system in Shelbyville is $24,592, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar panel system in Shelbyville, one of the most crucial 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 electricity bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.The brand of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Shelbyville offer solar loans, which reduce the initial cost of installing solar panels.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $7,738 | 16.8 years |
| 8 kW | $3.72 | $20,849 | $10,725 | 16.5 years |
| 10 kW | $3.65 | $25,550 | $13,918 | 16.2 years |
| 12 kW | $3.58 | $30,047 | $17,315 | 15.9 years |
| 14 kW | $3.50 | $34,339 | $20,916 | 15.5 years |
| 16 kW | $3.43 | $38,427 | $24,721 | 15.2 years |
| 18 kW | $3.36 | $42,311 | $28,731 | 14.9 years |
| 20 kW | $3.29 | $45,990 | $32,946 | 14.6 years |
How to Save on Solar Panels
There are numerous companies available in Shelbyville, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- 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.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Shelbyville?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Shelbyville have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces 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 many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.