Solar Panel Cost Guide in Oak Grove, KY (2024 Update)
- Oak Grove Solar Installation Cost: $23,892
- 25-Year Savings: $6,205
- Payback Period: 27.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Oak Grove
Let’s have a look at the average cost of solar panels in Oak Grove.
The national average cost of solar panels is $2.66 per watt, but in Oak Grove it’s 4 per watt.The average Oak Grove homeowner needs a 9.4-kilowatt system, which would cost about $23,892 with the federal tax credit, or $34,166 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $9,200 over 20 years on utility bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Oak Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-22,373 |
| 3 years | $-19,334 |
| 5 years | $-16,295 |
| 7 years | $-13,256 |
| 9 years | $-10,217 |
| 11 years | $-7,178 |
| 13 years | $-4,139 |
| 15 years | $-1,100 |
| 17 years | $1,939 |
| 19 years | $4,978 |
| 21 years | $8,017 |
| 23 years | $11,056 |
| 25 years | $14,096 |
Top Solar Installers in Oak Grove
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar panel installer can make switching to solar power much easier. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
If you’d like to start using solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers near you:
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 Oak Grove
Factors that Affect Solar Panel Costs in Oak Grove
The cost of installing a solar system in Oak Grove can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,650. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Oak Grove average.
Solar Financing Terms
Many homeowners find the average cost of solar in Oak Grove to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.Though solar loans make switching to solar energy more accessible for Oak Grove homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating in Oak Grove, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have 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 | $-2,134 | 28.9 years |
| 8 kW | $3.72 | $20,849 | $-2,436 | 28.3 years |
| 10 kW | $3.65 | $25,550 | $-2,534 | 27.8 years |
| 12 kW | $3.58 | $30,047 | $-2,428 | 27.2 years |
| 14 kW | $3.50 | $34,339 | $-2,117 | 26.6 years |
| 16 kW | $3.43 | $38,427 | $-1,602 | 26.1 years |
| 18 kW | $3.36 | $42,311 | $-882 | 25.5 years |
| 20 kW | $3.29 | $45,990 | $42 | 25.0 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: If you care about the endurance of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: The model of solar panel you’d like to install plays a part in which company you should go with, since different companies provide different panels.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Oak Grove, KY Solar Cost FAQs
How much does it cost to install solar panels in Oak Grove?
The average cost of solar panels in Oak Grove 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Oak Grove?
You can’t get solar panels for free in Oak Grove. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Oak Grove?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.