Solar Panel Cost Guide in Louisville, OH (2024 Update)

  • Louisville Solar Installation Cost: $18,563
  • 25-Year Savings: $13,327
  • Payback Period: 17.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Louisville

We go over average solar pricing in Louisville.

The average cost of a solar system in Louisville is 3 per watt.The average Louisville homeowner needs a 7.8-kilowatt system, which would cost about $18,563 with the federal tax credit, or $26,545 before the 0 tax credit is applied.

The true cost of your system can go above or below the average in Louisville depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.With average savings of about $13,000 on energy bills over 20 years, many homeowners in Louisville find installing solar panels can be quite rewarding.

To see your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Louisville

Year Return on Investment
1 years $-17,343
3 years $-14,903
5 years $-12,462
7 years $-10,022
9 years $-7,581
11 years $-5,141
13 years $-2,700
15 years $-260
17 years $2,181
19 years $4,621
21 years $7,062
23 years $9,502
25 years $11,943

Top Solar Installers in Louisville

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make your switch to solar power much easier. The payback period of solar panels will vary depending on factors like your roof configuration and energy consumption, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.

You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Louisville:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

See all of the solar companies in Louisville

Factors that Affect Solar Panel Costs in Louisville

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key 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

When it comes to estimating the price of a solar energy system in Louisville, 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 consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,410 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Louisville, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Louisville to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time due to interest.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 the amount of time it’ll take to pay back the loan.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Louisville, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.55 $14,895 $6,139 17.7 years
8 kW $3.48 $19,478 $8,568 17.4 years
10 kW $3.41 $23,870 $11,187 17.0 years
12 kW $3.34 $28,071 $13,998 16.7 years
14 kW $3.27 $32,081 $16,999 16.3 years
16 kW $3.21 $35,900 $20,191 16.0 years
18 kW $3.14 $39,529 $23,574 15.7 years
20 kW $3.07 $42,966 $27,148 15.3 years

How to Save on Solar Panels

The solar panel company you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:

  • Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
  • Solar Panel Brands: Different companies offer various brands and models of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Louisville, OH Solar Cost FAQs

How much does it cost to install solar panels in Louisville?

The average cost of solar panels in Louisville is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Louisville?

Leasing solar panels can be an appealing choice, as it typically 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.

How will solar panels impact how much my home is worth?

Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t opt for 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 a solar system."

How long do solar panels last in Louisville?

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 level 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.

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.

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