Solar Panel Cost Guide in Beaver Dam, KY (2024 Update)
- Beaver Dam Solar Installation Cost: $24,076
- 25-Year Savings: $26,090
- Payback Period: 14.5 Years
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Average Cost of Solar Panels in Beaver Dam
Let’s have a look at the average cost of solar in Beaver Dam.
The average cost of a solar system in Beaver Dam is 4 per watt.Using this figure, a typical 9.4-kW system would cost about $24,076 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Beaver Dam based on a few factors, such as the type of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar is worth paying. On average Beaver Dam homeowners see about $17,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar installer in Beaver Dam for a customized estimate.
Solar savings over time in Beaver Dam
| Year | Return on Investment |
|---|---|
| 1 years | $-22,697 |
| 3 years | $-19,940 |
| 5 years | $-17,182 |
| 7 years | $-14,424 |
| 9 years | $-11,666 |
| 11 years | $-8,909 |
| 13 years | $-6,151 |
| 15 years | $-3,393 |
| 17 years | $-635 |
| 19 years | $2,122 |
| 21 years | $4,880 |
| 23 years | $7,638 |
| 25 years | $10,396 |
Top Solar Installers in Beaver Dam
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar company can make your swap to solar power much easier. Another great thing about going with a reliable solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Beaver Dam
Factors that Affect Solar Panel Costs in Beaver Dam
There are a number of criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the cost of a solar system in Beaver Dam, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,650 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Beaver Dam to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.However, the interest on solar loans also adds to your overall costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Beaver Dam, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to 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 | $3.80 | $15,943 | $10,497 | 15.1 years |
| 8 kW | $3.72 | $20,849 | $14,404 | 14.8 years |
| 10 kW | $3.65 | $25,550 | $18,516 | 14.5 years |
| 12 kW | $3.58 | $30,047 | $22,833 | 14.2 years |
| 14 kW | $3.50 | $34,339 | $27,353 | 13.9 years |
| 16 kW | $3.43 | $38,427 | $32,079 | 13.6 years |
| 18 kW | $3.36 | $42,311 | $37,008 | 13.3 years |
| 20 kW | $3.29 | $45,990 | $42,142 | 13.0 years |
How to Save on Solar Panels
There are numerous companies to choose from in Beaver Dam, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you need to install plays a role in which company you should opt for, since different companies have different panels.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Beaver Dam, KY Solar Cost FAQs
How much does it cost to install solar panels in Beaver Dam?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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 consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Beaver Dam?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $881.32 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.