Solar Panel Cost Guide in Wilmore, KY (Jan 2023)
- Wilmore Solar Installation Cost: $15,807
- 25-Year Savings: $22,667
- Payback Period: 10.3 Years
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Top Solar Installers in Wilmore
Installing solar panels by yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. The expertise that solar companies offer can be useful as well, especially if you aren't sure what type of solar equipment you need.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Wilmore
Factors that Affect Solar Panel Costs in Wilmore
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Wilmore: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. There are several different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you choose 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
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Wilmore, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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||$13,697||10.7 years|
|8 kW||$2.39||$13,366||$18,525||10.5 years|
|10 kW||$2.34||$16,380||$23,484||10.3 years|
|12 kW||$2.29||$19,263||$28,574||10.1 years|
|14 kW||$2.25||$22,015||$33,795||9.9 years|
|16 kW||$2.20||$24,636||$39,147||9.7 years|
|18 kW||$2.15||$27,125||$44,630||9.5 years|
|20 kW||$2.11||$29,484||$50,244||9.2 years|
How to Save on Solar Panels
The solar installer you opt for will influence 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 keep in mind, including:
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
EcoWatch's Wilmore, KY Solar Cost FAQs
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.