Solar Panel Cost Guide in Villa Hills, KY (2023 Update)
- Villa Hills Solar Installation Cost: $15,872
- 25-Year Savings: $20,512
- Payback Period: 10.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Villa Hills
Here's how much it might cost to go solar in Villa Hills.
The national average cost of solar panels is $2.66 per watt, but in Villa Hills it's 2.34 per watt. To account for the typical energy usage of the average home in Villa Hills, most homeowners require a 9.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,872, or $22,697 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Villa Hills homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on utility bills.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Villa Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-14,417 |
| 3 years | $-11,506 |
| 5 years | $-8,595 |
| 7 years | $-5,685 |
| 9 years | $-2,774 |
| 11 years | $137 |
| 13 years | $3,048 |
| 15 years | $5,958 |
| 17 years | $8,869 |
| 19 years | $11,780 |
| 21 years | $14,691 |
| 23 years | $17,602 |
| 25 years | $20,512 |
Top Solar Installers in Villa Hills
When switching to solar energy, many homeowners choose to use a solar installer since overseeing your solar installation yourself can be a challenging project. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're looking for a solar installer in Villa Hills, the EcoWatch team has put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Villa Hills
Factors that Affect Solar Panel Costs in Villa Hills
While the average cost of a solar system in Villa Hills is $15,872, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,340 per kilowatt in Villa Hills. There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Villa Hills have solar loans, which reduce your upfront costs of installing a solar system. 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're only able to 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 interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Villa Hills is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that offer a range of services at different price points. Additionally, some companies in Villa Hills know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $12,308 | 11.3 years |
| 8 kW | $2.39 | $13,366 | $16,673 | 11.1 years |
| 10 kW | $2.34 | $16,380 | $21,168 | 10.9 years |
| 12 kW | $2.29 | $19,263 | $25,795 | 10.7 years |
| 14 kW | $2.25 | $22,015 | $30,553 | 10.5 years |
| 16 kW | $2.20 | $24,636 | $35,442 | 10.3 years |
| 18 kW | $2.15 | $27,125 | $40,462 | 10.0 years |
| 20 kW | $2.11 | $29,484 | $45,613 | 9.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The kind of solar panel you need plays a part in which installer you should opt for, since different companies have different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Villa Hills, KY Solar Cost FAQs
What is the average cost of installing solar panels in Villa Hills?
This is a difficult question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Villa Hills?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Villa Hills?
The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Although 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 decide to replace them once you've had 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.