Solar Panel Cost Guide in Walton, KY (2023 Update)
- Walton Solar Installation Cost: $15,855
- 25-Year Savings: $20,530
- Payback Period: 10.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Walton
Here's how much it might cost to switch to solar power in Walton.
While the national average of solar panels is $2.66 per watt, solar panels in Walton generally cost around 2.34. Because a 9.7-kW system is needed to cover the energy costs of a typical home in Walton, the average price of going solar will be about $15,856 after claiming the federal solar tax credit of 30%.
These figures are just averages, and your own solar costs will look different based on factors unique to your home and what company you want to go with. But, once you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on energy bills.
To get a free estimate from a pre-vetted solar installation company in Walton, you can click the button below.
Solar savings over time in Walton
| Year | Return on Investment |
|---|---|
| 1 years | $-14,660 |
| 3 years | $-12,271 |
| 5 years | $-9,881 |
| 7 years | $-7,492 |
| 9 years | $-5,103 |
| 11 years | $-2,714 |
| 13 years | $-324 |
| 15 years | $2,065 |
| 17 years | $4,454 |
| 19 years | $6,843 |
| 21 years | $9,233 |
| 23 years | $11,622 |
| 25 years | $14,011 |
Top Solar Installers in Walton
When going solar, many homeowners choose to hire a solar installer since putting up solar panels yourself can be a challenging project. Another perk of using a solar installer is that they can help you maximize your return of investment by cutting back on future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
If you'd like to go solar but still aren't sure which solar panel installer to go with, here are our recommendations 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 Walton
Factors that Affect Solar Panel Costs in Walton
There are many criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase 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 Walton, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Walton homeowners decide to finance their solar panel systems to offset upfront costs. Even though solar loans make going solar more accessible for Walton 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 put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Walton, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also is within your budget.
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 | $12,333 | 11.3 years |
| 8 kW | $2.39 | $13,366 | $16,706 | 11.1 years |
| 10 kW | $2.34 | $16,380 | $21,210 | 10.9 years |
| 12 kW | $2.29 | $19,263 | $25,845 | 10.7 years |
| 14 kW | $2.25 | $22,015 | $30,611 | 10.5 years |
| 16 kW | $2.20 | $24,636 | $35,508 | 10.2 years |
| 18 kW | $2.15 | $27,125 | $40,536 | 10.0 years |
| 20 kW | $2.11 | $29,484 | $45,695 | 9.8 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
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 Walton, KY Solar Cost FAQs
How much does it cost to install solar panels in Walton?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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 higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Walton?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How will having solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Walton is currently $197,386, which means you could be looking at a value of about $8,093 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Walton is a fruitful investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out 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 house 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.