Solar Panel Cost Guide in Alexandria, IN (2024 Update)
- Alexandria Solar Installation Cost: $25,491
- 25-Year Savings: $21,899
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Alexandria
Let’s have a look at the average cost of solar panels in Alexandria.
The national average cost of solar panels is $2.66 per watt, but in Alexandria it’s 4 per watt.The average Alexandria homeowner needs a 8.9-kilowatt system, which would cost about $25,491 with the federal tax credit, or $36,452 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy consumption and what installation company you go with.With typical savings of about $16,000 on power bills over 20 years, many homeowners in Alexandria find going solar can be quite rewarding.
You can click the button below to get connected with a vetted solar company in Alexandria that can help you get a more accurate cost estimate for your home.
Solar savings over time in Alexandria
| Year | Return on Investment |
|---|---|
| 1 years | $-23,873 |
| 3 years | $-20,639 |
| 5 years | $-17,404 |
| 7 years | $-14,169 |
| 9 years | $-10,934 |
| 11 years | $-7,699 |
| 13 years | $-4,464 |
| 15 years | $-1,229 |
| 17 years | $2,005 |
| 19 years | $5,240 |
| 21 years | $8,475 |
| 23 years | $11,710 |
| 25 years | $14,945 |
Top Solar Installers in Alexandria
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with a solar panel installer can make converting to solar power much easier. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Alexandria
Factors that Affect Solar Panel Costs in Alexandria
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Alexandria: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $4,100 per kilowatt in Alexandria.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Alexandria have solar loans, which reduce the initial cost of installing solar panels.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Alexandria, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Alexandria have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $4.26 | $17,909 | $8,141 | 17.2 years |
| 8 kW | $4.18 | $23,419 | $11,313 | 16.9 years |
| 10 kW | $4.10 | $28,700 | $14,716 | 16.5 years |
| 12 kW | $4.02 | $33,751 | $18,347 | 16.2 years |
| 14 kW | $3.94 | $38,573 | $22,209 | 15.9 years |
| 16 kW | $3.85 | $43,165 | $26,300 | 15.5 years |
| 18 kW | $3.77 | $47,527 | $30,621 | 15.2 years |
| 20 kW | $3.69 | $51,660 | $35,171 | 14.9 years |
How to Save on Solar Panels
There are numerous companies available in Alexandria, 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:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
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 Alexandria, IN Solar Cost FAQs
How much does it cost to install solar panels in Alexandria?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $20,500 for a 5-kW system and $41,000 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 higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Alexandria?
You can’t get solar panels for free in Alexandria. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Alexandria have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.