Solar Panel Cost Guide in Wilmore, KY (2025 Update)
- Wilmore Solar Installation Cost: $24,658
- 25-Year Savings: $22,665
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Wilmore
Let’s have a look at the average cost of solar in Wilmore.
The average cost of a solar system in Wilmore is 4 per watt.To account for the typical energy usage of the average home in Wilmore, most homeowners require a 9.7-kilowatt system. Using the figure above, a solar installation costs around $24,658, or $35,261 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of equipment you want to get, your solar contractor and more.Despite the high initial cost, the average Wilmore homeowner can save around $15,000 on their energy 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 Wilmore for a quote for your home.
Solar savings over time in Wilmore
| Year | Return on Investment |
|---|---|
| 1 years | $-23,279 |
| 3 years | $-20,522 |
| 5 years | $-17,764 |
| 7 years | $-15,006 |
| 9 years | $-12,248 |
| 11 years | $-9,491 |
| 13 years | $-6,733 |
| 15 years | $-3,975 |
| 17 years | $-1,217 |
| 19 years | $1,541 |
| 21 years | $4,298 |
| 23 years | $7,056 |
| 25 years | $9,814 |
Top Solar Installers in Wilmore
When switching to solar energy, many homeowners choose to use a solar installer since DIY solar panel installation can be a challenging project. Another benefit of working with a solar company is that they can help you maximize your return of investment by lowering your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
If you're looking for a solar installer in Wilmore, the EcoWatch team has organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Wilmore
Factors that Affect Solar Panel Costs in Wilmore
For many Wilmore homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Wilmore, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,650 per kilowatt in Wilmore.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Wilmore, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Wilmore, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Wilmore have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.80 | $15,943 | $7,975 | 16.7 years |
| 8 kW | $3.72 | $20,849 | $11,043 | 16.3 years |
| 10 kW | $3.65 | $25,550 | $14,314 | 16.0 years |
| 12 kW | $3.58 | $30,047 | $17,790 | 15.7 years |
| 14 kW | $3.50 | $34,339 | $21,471 | 15.4 years |
| 16 kW | $3.43 | $38,427 | $25,356 | 15.1 years |
| 18 kW | $3.36 | $42,311 | $29,445 | 14.7 years |
| 20 kW | $3.29 | $45,990 | $33,738 | 14.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Wilmore, KY Solar Cost FAQs
What is the average cost of installing solar panels in Wilmore?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Wilmore?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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 financial benefits from going solar.
Is making the switch to solar worth it?
Solar panels can be a good investment for lots 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 power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.