Solar Panel Cost Guide in Taylor Mill, KY (2024 Update)
- Taylor Mill Solar Installation Cost: $24,758
- 25-Year Savings: $20,512
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Taylor Mill
We break down average solar pricing in Taylor Mill.
In Taylor Mill, solar panels cost about 4 per watt on average.The average solar panel system size in Taylor Mill is around 9.7 kilowatts, meaning a cost of about $24,758 for a solar installation, or $35,404 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.With average savings of about $14,000 on electricity bills over 20 years, many homeowners in Taylor Mill find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Taylor Mill
| Year | Return on Investment |
|---|---|
| 1 years | $-23,563 |
| 3 years | $-21,174 |
| 5 years | $-18,785 |
| 7 years | $-16,395 |
| 9 years | $-14,006 |
| 11 years | $-11,617 |
| 13 years | $-9,227 |
| 15 years | $-6,838 |
| 17 years | $-4,449 |
| 19 years | $-2,060 |
| 21 years | $330 |
| 23 years | $2,719 |
| 25 years | $5,108 |
Top Solar Installers in Taylor Mill
Although you can install solar panels by yourself, it involves extra energy and knowledge. That's one of the reasons almost all homeowners choose a solar panel installer. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Taylor Mill:
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 Taylor Mill
Factors that Affect Solar Panel Costs in Taylor Mill
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Taylor Mill: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,650. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Taylor Mill, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Taylor Mill homeowners choose to finance their solar panel systems to make going solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Taylor Mill, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $6,586 | 17.7 years |
| 8 kW | $3.72 | $20,849 | $9,190 | 17.4 years |
| 10 kW | $3.65 | $25,550 | $11,998 | 17.0 years |
| 12 kW | $3.58 | $30,047 | $15,011 | 16.7 years |
| 14 kW | $3.50 | $34,339 | $18,229 | 16.3 years |
| 16 kW | $3.43 | $38,427 | $21,650 | 16.0 years |
| 18 kW | $3.36 | $42,311 | $25,276 | 15.7 years |
| 20 kW | $3.29 | $45,990 | $29,107 | 15.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before making your decision.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
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 Taylor Mill, KY Solar Cost FAQs
What is the average cost of installing solar panels in Taylor Mill?
This is a tough question to answer precisely, 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Taylor Mill?
A solar panel system isn’t free in Taylor Mill, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Taylor Mill is currently $247,182, which means you could be looking at a value of about $10,134 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Taylor Mill is a rewarding investment.
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 larger 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.