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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Versailles

Find out how much it might cost to make the switch to solar in Versailles.

The national average cost of solar panels is $2.66 per watt, but in Versailles it's $2 per watt. Using this figure, a typical 9.7 would cost about $15,823 before the 30% federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average energy use of Versailles homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find adopting solar power is a solid investment. The average homeowner in Versailles can save about $15,000 on their energy bills over 20 years.

You can click the button below to get connected with a pre-vetted solar company in Versailles that can help you get a more accurate cost estimate for your home.

Solar savings over time in Versailles

Year Return on Investment
1 years $-14,288
3 years $-11,217
5 years $-8,146
7 years $-5,075
9 years $-2,004
11 years $1,066
13 years $4,137
15 years $7,208
17 years $10,279
19 years $13,350
21 years $16,420
23 years $19,491
25 years $22,562

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:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

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.

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 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.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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?

This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Are solar panels free in Versailles?

Solar panels aren't free in Versailles, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Do solar panels increase the value of your home?

Solar panels can increase your property's 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 many solar panels should I get to power my home?

To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.

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.

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