Solar Panel Cost Guide in Vine Grove, KY (2024 Update)
- Vine Grove Solar Installation Cost: $24,376
- 25-Year Savings: $24,503
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Vine Grove
We go over average solar pricing in Vine Grove.
While the national average of solar panels is $2.66 per watt, solar panels in Vine Grove generally cost about 4.The average Vine Grove homeowner needs a 9.5-kilowatt system, which would cost about $24,376 with the federal tax credit, or $34,858 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar system you choose, your solar contractor and more.Even with the large upfront cost, the average Vine Grove homeowner can save about $16,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar company in Vine Grove that can help you get a more accurate cost estimate for your home.
Solar savings over time in Vine Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-22,997 |
| 3 years | $-20,239 |
| 5 years | $-17,481 |
| 7 years | $-14,724 |
| 9 years | $-11,966 |
| 11 years | $-9,208 |
| 13 years | $-6,450 |
| 15 years | $-3,693 |
| 17 years | $-935 |
| 19 years | $1,823 |
| 21 years | $4,581 |
| 23 years | $7,338 |
| 25 years | $10,096 |
Top Solar Installers in Vine Grove
Many homeowners choose to hire a solar installer since trying to install solar panels by yourself can be time-consuming. Some solar companies, especially local ones, can help you make the most of incentives in Vine Grove, thereby optimizing your ROI.
If you’d like to make the switch to solar but still aren’t certain which solar panel company to go with, here are our recommendations for providers nearby:
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 Vine Grove
Factors that Affect Solar Panel Costs in Vine Grove
The cost of installing a solar system in Vine Grove can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Vine Grove provide solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of financing options, 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 interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices 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 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 | $3.80 | $15,943 | $9,294 | 15.8 years |
| 8 kW | $3.72 | $20,849 | $12,801 | 15.5 years |
| 10 kW | $3.65 | $25,550 | $16,513 | 15.2 years |
| 12 kW | $3.58 | $30,047 | $20,428 | 14.9 years |
| 14 kW | $3.50 | $34,339 | $24,548 | 14.6 years |
| 16 kW | $3.43 | $38,427 | $28,873 | 14.3 years |
| 18 kW | $3.36 | $42,311 | $33,402 | 14.0 years |
| 20 kW | $3.29 | $45,990 | $38,135 | 13.7 years |
How to Save on Solar Panels
There are numerous companies available in Vine Grove, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
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 Vine Grove, KY Solar Cost FAQs
What is the average cost of installing solar panels in Vine Grove?
The average cost of solar panels in Vine Grove is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Vine Grove?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels eliminate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Vine Grove, 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 check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.