Solar Panel Cost Guide in Westwood, KY (Mar 2023)
- Westwood Solar Installation Cost: $15,938
- 25-Year Savings: $28,323
- Payback Period: 9.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Westwood
We break down average solar pricing in Westwood.
The national average cost of solar panels is $2.66 per watt, but in Westwood it's 2.34 per watt. The average solar panel system size in Westwood is around 9.7 kilowatts, meaning a cost of about $15,938 for a solar installation, or $22,791 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Westwood based on a few factors, such as the model of solar panels you choose and the solar company you hire. For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Westwood see about $17,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar panel company in Westwood for a customized estimate.
Solar savings over time in Westwood
| Year | Return on Investment |
|---|---|
| 1 years | $-14,167 |
| 3 years | $-10,626 |
| 5 years | $-7,086 |
| 7 years | $-3,545 |
| 9 years | $-4 |
| 11 years | $3,537 |
| 13 years | $7,078 |
| 15 years | $10,619 |
| 17 years | $14,160 |
| 19 years | $17,700 |
| 21 years | $21,241 |
| 23 years | $24,782 |
| 25 years | $28,323 |
Top Solar Installers in Westwood
Installing solar panels yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy needs, but working 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.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Westwood
Factors that Affect Solar Panel Costs in Westwood
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Westwood: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Westwood, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,340 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Westwood, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the amount of 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 APR could reduce your costs significantly.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Westwood, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Westwood have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $17,086 | 9.4 years |
| 8 kW | $2.39 | $13,366 | $23,043 | 9.2 years |
| 10 kW | $2.34 | $16,380 | $29,131 | 9.0 years |
| 12 kW | $2.29 | $19,263 | $35,351 | 8.8 years |
| 14 kW | $2.25 | $22,015 | $41,701 | 8.6 years |
| 16 kW | $2.20 | $24,636 | $48,183 | 8.5 years |
| 18 kW | $2.15 | $27,125 | $54,795 | 8.3 years |
| 20 kW | $2.11 | $29,484 | $61,539 | 8.1 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- 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 big role in the company you opt for.
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
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 Westwood, KY Solar Cost FAQs
What is the average cost of installing solar panels in Westwood?
The average cost of solar panels in Westwood 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Westwood?
Leasing solar panels can be an appealing choice, because it commonly 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 solar panels impact my property value?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
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 uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.