Solar Panel Cost Guide in Louisville, OH (Feb 2023)
- Louisville Solar Installation Cost: $13,942
- 25-Year Savings: $13,322
- Payback Period: 12.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated January 20, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Louisville
Find out how much it might cost to install solar panels in Louisville.
Although the national average of solar panels is $2.66 per watt, solar panels in Louisville generally cost around $3. Since a 7.8-kW system is needed to cover the energy consumption of a typical home in Louisville, the average price of going solar will be about $13,942 before claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Louisville homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $13,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Louisville
| Year | Return on Investment |
|---|---|
| 1 years | $-12,851 |
| 3 years | $-10,670 |
| 5 years | $-8,489 |
| 7 years | $-6,308 |
| 9 years | $-4,127 |
| 11 years | $-1,946 |
| 13 years | $235 |
| 15 years | $2,416 |
| 17 years | $4,597 |
| 19 years | $6,778 |
| 21 years | $8,960 |
| 23 years | $11,141 |
| 25 years | $13,322 |
Top Solar Installers in Louisville
Many homeowners opt for a solar installer since installing solar panels by yourself can be time-consuming. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
There are a number of 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 Louisville
Factors that Affect Solar Panel Costs in Louisville
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Louisville: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about 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 for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Louisville, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. Though solar loans make adopting solar energy more accessible for Louisville homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the growing popularity of sustainable energy solutions in Louisville, you'll have lots of options to choose from, but each comes at varying price points 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 access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $2.66 | $11,182 | $9,852 | 13.3 years |
| 8 kW | $2.61 | $14,623 | $13,423 | 13.0 years |
| 10 kW | $2.56 | $17,920 | $17,137 | 12.8 years |
| 12 kW | $2.51 | $21,074 | $20,995 | 12.5 years |
| 14 kW | $2.46 | $24,084 | $24,996 | 12.3 years |
| 16 kW | $2.41 | $26,952 | $29,140 | 12.0 years |
| 18 kW | $2.36 | $29,676 | $33,428 | 11.8 years |
| 20 kW | $2.30 | $32,256 | $37,858 | 11.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Warranty: A high-quality company rises above other companies by providing 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.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
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 Louisville, OH Solar Cost FAQs
What is the average cost of installing solar panels in Louisville?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Does Louisville have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.