Solar Panel Cost Guide in Vine Grove, KY (2023 Update)
- Vine Grove Solar Installation Cost: $15,627
- 25-Year Savings: $24,503
- Payback Period: 9.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Vine Grove
Here's how much it might cost to install solar panels in Vine Grove.
In Vine Grove, solar panels cost about 2.34 per watt on average. To account for the typical energy needs of the average home in Vine Grove, most homeowners require a 9.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,627, or $22,347 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 Vine Grove 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 installing a solar panel system is a rewarding investment. The average homeowner in Vine Grove can save around $16,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer 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 | $-14,021 |
| 3 years | $-10,811 |
| 5 years | $-7,601 |
| 7 years | $-4,390 |
| 9 years | $-1,180 |
| 11 years | $2,031 |
| 13 years | $5,241 |
| 15 years | $8,451 |
| 17 years | $11,662 |
| 19 years | $14,872 |
| 21 years | $18,083 |
| 23 years | $21,293 |
| 25 years | $24,503 |
Top Solar Installers in Vine Grove
Many homeowners opt for a solar installer since trying to install solar panels yourself can be challenging. Plus, if you're not certain what type of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our suggestions for providers nearby:
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 your system size, 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 that have better efficiency or power generation require 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. The brand of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Vine Grove, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Vine Grove, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Vine Grove are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $15,016 | 10.1 years |
| 8 kW | $2.39 | $13,366 | $20,284 | 9.9 years |
| 10 kW | $2.34 | $16,380 | $25,683 | 9.7 years |
| 12 kW | $2.29 | $19,263 | $31,212 | 9.5 years |
| 14 kW | $2.25 | $22,015 | $36,873 | 9.3 years |
| 16 kW | $2.20 | $24,636 | $42,665 | 9.2 years |
| 18 kW | $2.15 | $27,125 | $48,587 | 9.0 years |
| 20 kW | $2.11 | $29,484 | $54,641 | 8.8 years |
How to Save on Solar Panels
There are numerous companies available in Vine Grove, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: The kind of solar panel you need plays a part in which company you should choose, since different companies provide different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project timeline incentives and warranties.
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
How much does it cost to install solar panels in Vine Grove?
The average cost of solar panels in Vine Grove is about $11,700 for a 5-kW system and $23,400 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Vine Grove?
Solar panels aren't free in Vine Grove, 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 you can take advantage of.
Is it worth going solar in Vine Grove?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 buy between 20 and 35 panels to account for 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.