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.Since a 9.7-kW system is needed to cover the energy usage of a typical home in Versailles, the average price of going solar will be about $24,673 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more.Even with the large upfront cost, the average Versailles homeowner can save about $15,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, 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
Putting up solar panels on your own can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. Some solar companies, especially local ones, can help you make the most of incentives in Versailles, thereby optimizing your ROI.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Versailles
Factors that Affect Solar Panel Costs in Versailles
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Versailles: 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
When it comes to estimating the cost of solar panels in Versailles, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much 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 costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only 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 finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $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
Since the brand of solar panels and the installer you choose significantly influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Read the contract terms carefully to make sure you understand the total cost, completion timeline rebates and warranties.
- 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 install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and 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.
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 Versailles, KY Solar Cost FAQs
How much does it cost to install 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.
Can you get solar panels for free in Versailles?
A solar panel system isn’t free in Versailles, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How much can I save on electricity bills after installing solar panels?
It is possible to erase 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 the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 stop working completely at that time. What this means is how much energy they produce 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.