Solar Panel Cost Guide in Versailles, KY (2024 Update)
- Versailles Solar Installation Cost: $24,673
- 25-Year Savings: $22,567
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Versailles
Find out what the average cost of solar panel installation is in Versailles.
The national average cost of solar panels is $2.66 per watt, but in Versailles it’s 4 per watt.Using this figure, a typical 9.7-kW system would cost about $24,673 before the 0 federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may differ based on your specific situation and what company you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $15,000 over 20 years on electricity bills.
To get a free quote from a top solar company in Versailles, you can click the button below.
Solar savings over time in Versailles
| Year | Return on Investment |
|---|---|
| 1 years | $-23,294 |
| 3 years | $-20,536 |
| 5 years | $-17,778 |
| 7 years | $-15,020 |
| 9 years | $-12,263 |
| 11 years | $-9,505 |
| 13 years | $-6,747 |
| 15 years | $-3,989 |
| 17 years | $-1,232 |
| 19 years | $1,526 |
| 21 years | $4,284 |
| 23 years | $7,042 |
| 25 years | $9,800 |
Top Solar Installers in Versailles
When going solar, many homeowners prefer to go with a solar company since overseeing your solar installation yourself can be a difficult project. In addition, if you’d like to maximize your investment in solar, opting for a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Versailles:
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 Versailles
Factors that Affect Solar Panel Costs in Versailles
The cost of installing a solar system in Versailles can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
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 with higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,650.There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Versailles to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time due to interest.Even though solar loans make switching to 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 company you opt for to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies in Versailles, and each can charge varying amounts for labor and equipment.Larger national companies usually 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 | $3.80 | $15,943 | $7,907 | 16.7 years |
| 8 kW | $3.72 | $20,849 | $10,951 | 16.4 years |
| 10 kW | $3.65 | $25,550 | $14,200 | 16.1 years |
| 12 kW | $3.58 | $30,047 | $17,653 | 15.7 years |
| 14 kW | $3.50 | $34,339 | $21,310 | 15.4 years |
| 16 kW | $3.43 | $38,427 | $25,172 | 15.1 years |
| 18 kW | $3.36 | $42,311 | $29,239 | 14.8 years |
| 20 kW | $3.29 | $45,990 | $33,509 | 14.5 years |
How to Save on Solar Panels
There are numerous companies to choose from in Versailles, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Review the contract terms thoroughly to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
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 Versailles, KY Solar Cost FAQs
What is the average cost of installing solar panels in Versailles?
The average cost of solar panels in Versailles is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Versailles?
You can’t get solar panels for free in Versailles. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Versailles, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Versailles?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.