Solar Panel Cost Guide in Shelbyville, KY (2023 Update)
- Shelbyville Solar Installation Cost: $15,766
- 25-Year Savings: $22,222
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Shelbyville
We go over average solar pricing in Shelbyville.
The average cost of a solar system in Shelbyville is 2.34 per watt. The average solar panel system size in Shelbyville is around 9.6 kilowatts, meaning a cost of about $15,758 for a solar installation, or $22,534 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Shelbyville homeowners. 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. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $15,000 in savings on energy bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Shelbyville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,639 |
| 3 years | $-15,386 |
| 5 years | $-15,132 |
| 7 years | $-14,879 |
| 9 years | $-14,626 |
| 11 years | $-14,373 |
| 13 years | $-14,119 |
| 15 years | $-13,866 |
| 17 years | $-13,613 |
| 19 years | $-13,360 |
| 21 years | $-13,106 |
| 23 years | $-12,853 |
| 25 years | $-12,600 |
Top Solar Installers in Shelbyville
Many homeowners opt for a solar installer since trying to install solar panels on your own can be a lot of work. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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
There are a number of factors that can determine your solar panel 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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Shelbyville homeowners choose to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your overall costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you select will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Shelbyville know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $13,460 | 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
The solar installer you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
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
How much does it cost to install solar panels in Shelbyville?
The average cost of solar panels in Shelbyville 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 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 Shelbyville?
Leasing solar panels can be an option if you are unable 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 bang for your buck from going solar.
Can you sell solar power back to the grid in Shelbyville?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.