Solar Panel Cost Guide in Farley, KY (2024 Update)

  • Farley Solar Installation Cost: $23,586
  • 25-Year Savings: $32,954
  • Payback Period: 12.3 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 Farley

Let’s have a look at the average cost of solar in Farley.

Although the national average of solar panels is $2.66 per watt, solar panels in Farley generally cost about 4.The average solar panel system size in Farley is around 9.2 kilowatts, meaning a cost of about $23,586 for a solar installation, or $33,728 before the 0 federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar system you choose, your solar contractor and more.But, after you've paid the upfront cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $20,000 over 20 years on energy bills.

You can click the button below to get connected with a top solar company in Farley that can help you get a more accurate cost estimate for your home.

Solar savings over time in Farley

Year Return on Investment
1 years $-22,046
3 years $-18,966
5 years $-15,887
7 years $-12,808
9 years $-9,728
11 years $-6,649
13 years $-3,569
15 years $-490
17 years $2,590
19 years $5,669
21 years $8,748
23 years $11,828
25 years $14,907

Top Solar Installers in Farley

Trying to put up solar panels yourself can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be useful as well, especially if you don’t quite know what type of solar equipment you need.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

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 Technology

Tesla Energy

★★★★★
3.2

  • 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 Farley

Factors that Affect Solar Panel Costs in Farley

For many Farley homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Farley, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,650. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Farley, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of 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

Most solar installers in Farley have solar loans, which reduce the initial cost of installing solar panels.However, the interest on solar loans also increases your overall costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

The solar panel installer you pick will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment 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 $3.80 $15,943 $15,304 12.8 years
8 kW $3.72 $20,849 $20,814 12.5 years
10 kW $3.65 $25,550 $26,529 12.3 years
12 kW $3.58 $30,047 $32,448 12.0 years
14 kW $3.50 $34,339 $38,571 11.8 years
16 kW $3.43 $38,427 $44,899 11.5 years
18 kW $3.36 $42,311 $51,431 11.3 years
20 kW $3.29 $45,990 $58,168 11.0 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:

  • Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
  • Solar Panel Brands: Different companies will offer different brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
  • Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.

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 Technology

Tesla Energy

★★★★★
3.2

  • 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 Farley, KY Solar Cost FAQs

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

This is a difficult question to answer precisely, because the cost depends on a variety of 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 higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Farley?

A solar panel system isn’t free in Farley, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can you sell solar power back to the grid in Farley?

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 utility bills.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.

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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