Solar Panel Cost Guide in Edgewood, KY (2024 Update)
- Edgewood Solar Installation Cost: $24,758
- 25-Year Savings: $20,512
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Edgewood
Here’s how much it might cost to switch to solar power in Edgewood.
The national average cost of solar panels is $2.66 per watt, but in Edgewood it’s 4 per watt.Because a 9.7-kW system is needed to cover the energy needs of a typical home in Edgewood, the average price of going solar will be about $24,758 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more.With typical savings of about $14,000 on electricity bills over 20 years, many homeowners in Edgewood find going solar can pay off big.
Click the button below to get connected to a highly rated solar installer in Edgewood for a personalized quote.
Solar savings over time in Edgewood
| Year | Return on Investment |
|---|---|
| 1 years | $-23,563 |
| 3 years | $-21,174 |
| 5 years | $-18,785 |
| 7 years | $-16,395 |
| 9 years | $-14,006 |
| 11 years | $-11,617 |
| 13 years | $-9,227 |
| 15 years | $-6,838 |
| 17 years | $-4,449 |
| 19 years | $-2,060 |
| 21 years | $330 |
| 23 years | $2,719 |
| 25 years | $5,108 |
Top Solar Installers in Edgewood
Although you can install solar panels on your own, it requires extra labor and knowledge. That's why most homeowners choose a solar panel installer. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
Working with a vetted solar installer can make going solar easier. 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 Edgewood
Factors that Affect Solar Panel Costs in Edgewood
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Edgewood: 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 determines the overall cost of going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Edgewood provide solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Edgewood is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for example, you’ll have no shortage of solar installers that offer a range of services for different budgets.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.80 | $15,943 | $6,586 | 17.7 years |
| 8 kW | $3.72 | $20,849 | $9,190 | 17.4 years |
| 10 kW | $3.65 | $25,550 | $11,998 | 17.0 years |
| 12 kW | $3.58 | $30,047 | $15,011 | 16.7 years |
| 14 kW | $3.50 | $34,339 | $18,229 | 16.3 years |
| 16 kW | $3.43 | $38,427 | $21,650 | 16.0 years |
| 18 kW | $3.36 | $42,311 | $25,276 | 15.7 years |
| 20 kW | $3.29 | $45,990 | $29,107 | 15.3 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Edgewood, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: If you’re concerned about the durability of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar panel company 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
- 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 Edgewood, KY Solar Cost FAQs
What is the average cost of installing solar panels in Edgewood?
The average cost of solar panels in Edgewood is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Edgewood?
A solar panel system isn’t free in Edgewood, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels significantly reduce my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Edgewood, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Edgewood?
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.