Solar Panel Cost Guide in Versailles, KY (Jan 2023)
- Versailles Solar Installation Cost: $15,823
- 25-Year Savings: $22,562
- Payback Period: 10.3 Years
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Top Solar Installers in Versailles
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar panel installer can make your swap to solar power much easier. The payback period on an investment in solar panels will vary depending on factors like your location and energy needs, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Versailles:
See all of the solar companies in Versailles
Factors that Affect Solar Panel Costs in Versailles
There are several factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,340. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Versailles, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. 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 Versailles homeowners decide to finance their solar panel systems to offset upfront costs. Though solar loans make adopting solar energy more accessible for Versailles homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Versailles, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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||$13,629||10.7 years|
|8 kW||$2.39||$13,366||$18,434||10.5 years|
|10 kW||$2.34||$16,380||$23,370||10.3 years|
|12 kW||$2.29||$19,263||$28,437||10.1 years|
|14 kW||$2.25||$22,015||$33,635||9.9 years|
|16 kW||$2.20||$24,636||$38,964||9.7 years|
|18 kW||$2.15||$27,125||$44,424||9.5 years|
|20 kW||$2.11||$29,484||$50,015||9.3 years|
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Versailles, KY Solar Cost FAQs
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.