Solar Panel Cost Guide in Shepherdsville, KY (2023 Update)
- Shepherdsville Solar Installation Cost: $15,678
- 25-Year Savings: $22,177
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Shepherdsville
We break down average solar pricing in Shepherdsville.
The average cost of a solar system in Shepherdsville is 2.34 per watt. To account for the typical energy usage of the average home in Shepherdsville, most homeowners require a 9.6-kilowatt system. Using the figure above, a solar installation costs about $15,676, or $22,417 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and the cost of going solar for you will differ based on your energy needs and what company you go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $15,000 over 20 years on utility bills.
To get a free estimate from a vetted solar installation company in Shepherdsville, you can click the button below.
Solar savings over time in Shepherdsville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,552 |
| 3 years | $-15,300 |
| 5 years | $-15,047 |
| 7 years | $-14,795 |
| 9 years | $-14,543 |
| 11 years | $-14,290 |
| 13 years | $-14,038 |
| 15 years | $-13,786 |
| 17 years | $-13,533 |
| 19 years | $-13,281 |
| 21 years | $-13,029 |
| 23 years | $-12,776 |
| 25 years | $-12,524 |
Top Solar Installers in Shepherdsville
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your switch to solar power much easier. Some solar installers, especially local ones, can help you make the most of incentives in Shepherdsville, optimizing your ROI.
If you're on the hunt for a solar installer in Shepherdsville, we've 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
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 Shepherdsville
Factors that Affect Solar Panel Costs in Shepherdsville
The cost of installing a solar system in Shepherdsville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Shepherdsville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $2,340 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Shepherdsville, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating in Shepherdsville, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $13,508 | 10.8 years |
| 8 kW | $2.39 | $13,366 | $18,273 | 10.6 years |
| 10 kW | $2.34 | $16,380 | $23,169 | 10.4 years |
| 12 kW | $2.29 | $19,263 | $28,196 | 10.1 years |
| 14 kW | $2.25 | $22,015 | $33,354 | 9.9 years |
| 16 kW | $2.20 | $24,636 | $38,642 | 9.7 years |
| 18 kW | $2.15 | $27,125 | $44,062 | 9.5 years |
| 20 kW | $2.11 | $29,484 | $49,613 | 9.3 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: The brand of solar panel you want plays a role in which installer you should opt for, since different companies offer different panels.
- Contract: Before you sign a contract with a solar installer, make sure you look it over fully 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.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
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 Shepherdsville, KY Solar Cost FAQs
What is the average cost of installing solar panels in Shepherdsville?
This is a difficult question to answer exactly, because the cost depends on many 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Shepherdsville?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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.
Is switching to solar power worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.