Solar Panel Cost Guide in Henderson, KY (2024 Update)
- Henderson Solar Installation Cost: $24,005
- 25-Year Savings: $28,043
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Henderson
Here’s how much it might cost to install solar panels in Henderson.
In Henderson, solar panels cost about 4 per watt on average.The average Henderson homeowner needs a 9.4-kilowatt system, which would cost about $24,005 with the federal tax credit, or $34,327 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.Even with the high initial cost, the average Henderson homeowner can save around $18,000 on their energy bills over 20 years, which is one of the perks of solar.
To get a free quote from a vetted solar installation company in Henderson, you can click the button below.
Solar savings over time in Henderson
| Year | Return on Investment |
|---|---|
| 1 years | $-22,763 |
| 3 years | $-20,277 |
| 5 years | $-17,792 |
| 7 years | $-15,307 |
| 9 years | $-12,822 |
| 11 years | $-10,337 |
| 13 years | $-7,852 |
| 15 years | $-5,367 |
| 17 years | $-2,882 |
| 19 years | $-397 |
| 21 years | $2,088 |
| 23 years | $4,573 |
| 25 years | $7,058 |
Top Solar Installers in Henderson
When making the switch to solar, many homeowners choose to use a solar company since putting up a solar system yourself can be a challenging project. Solar warranties and repairs are ordinarily included in the cost of installation when you sign a contract with a solar company too, which can save you more money over time.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Henderson
Factors that Affect Solar Panel Costs in Henderson
The cost of installing a solar system in Henderson can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Henderson, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Henderson average.
Solar Financing Terms
Many homeowners find the average cost of solar in Henderson to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.While solar loans make switching to solar energy more accessible for Henderson homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you choose will affect your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Henderson know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $11,793 | 14.4 years |
| 8 kW | $3.72 | $20,849 | $16,133 | 14.1 years |
| 10 kW | $3.65 | $25,550 | $20,677 | 13.8 years |
| 12 kW | $3.58 | $30,047 | $25,426 | 13.5 years |
| 14 kW | $3.50 | $34,339 | $30,379 | 13.3 years |
| 16 kW | $3.43 | $38,427 | $35,537 | 13.0 years |
| 18 kW | $3.36 | $42,311 | $40,898 | 12.7 years |
| 20 kW | $3.29 | $45,990 | $46,465 | 12.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project timeline incentives and warranties.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which company you should go with, since different companies offer different panels.
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 Henderson, KY Solar Cost FAQs
How much does it cost to install solar panels in Henderson?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Henderson?
A solar panel system isn’t free in Henderson, but there are some options that can make getting them more viable, 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 you sell solar power back to the grid in Henderson?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How long do solar panels last in Henderson?
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 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.