Solar Panel Cost Guide in Shively, KY (2024 Update)
- Shively Solar Installation Cost: $24,524
- 25-Year Savings: $25,882
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Shively
Here’s how much it might cost to go solar in Shively.
The national average cost of solar panels is $2.66 per watt, but in Shively it’s 4 per watt.The average solar panel system size in Shively is around 9.6 kilowatts, meaning a cost of about $24,524 for a solar installation, or $35,069 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Shively homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Shively can save around $17,000 on their power bills over 20 years.
Click the button below to get connected to a top solar panel company in Shively for a customized estimate.
Solar savings over time in Shively
| Year | Return on Investment |
|---|---|
| 1 years | $-23,055 |
| 3 years | $-20,118 |
| 5 years | $-17,181 |
| 7 years | $-14,243 |
| 9 years | $-11,306 |
| 11 years | $-8,369 |
| 13 years | $-5,431 |
| 15 years | $-2,494 |
| 17 years | $443 |
| 19 years | $3,380 |
| 21 years | $6,318 |
| 23 years | $9,255 |
| 25 years | $12,192 |
Top Solar Installers in Shively
Although it's possible to install solar panels by yourself, it involves extra effort and expertise. That's why the majority of homeowners choose a solar panel installer. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
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 Shively
Factors that Affect Solar Panel Costs in Shively
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Shively: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,650. The brand and kind 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 have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Shively homeowners opt to finance their solar panel systems to make paying for solar more affordable.Although solar loans make adopting solar energy more accessible for Shively homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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 opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Shively, and each can charge different amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for and also fit into your budget.
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 | $10,064 | 15.3 years |
| 8 kW | $3.72 | $20,849 | $13,827 | 15.0 years |
| 10 kW | $3.65 | $25,550 | $17,795 | 14.7 years |
| 12 kW | $3.58 | $30,047 | $21,967 | 14.4 years |
| 14 kW | $3.50 | $34,339 | $26,344 | 14.1 years |
| 16 kW | $3.43 | $38,427 | $30,925 | 13.9 years |
| 18 kW | $3.36 | $42,311 | $35,710 | 13.6 years |
| 20 kW | $3.29 | $45,990 | $40,700 | 13.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose significantly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected 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 do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Shively, KY Solar Cost FAQs
How much does it cost to install solar panels in Shively?
The average cost of solar panels in Shively is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.