Solar Panel Cost Guide in Anderson, IN (2024 Update)

  • Anderson Solar Installation Cost: $25,491
  • 25-Year Savings: $23,055
  • Payback Period: 16.0 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 Anderson

Find out what the average cost of solar panel installation is in Anderson.

While the national average of solar panels is $2.66 per watt, solar panels in Anderson generally cost about 4.Using this figure, a typical 8.9-kW system would cost about $25,491 before the 0 federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average Anderson homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the significant initial cost, the average Anderson homeowner can save around $17,000 on their power bills over 20 years, which is one of the advantages of solar.

To see your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Anderson

Year Return on Investment
1 years $-23,978
3 years $-20,953
5 years $-17,927
7 years $-14,901
9 years $-11,876
11 years $-8,850
13 years $-5,825
15 years $-2,799
17 years $226
19 years $3,252
21 years $6,277
23 years $9,303
25 years $12,328

Top Solar Installers in Anderson

When switching to solar energy, many homeowners opt to hire a solar company since overseeing your solar installation yourself can be a challenging project. Another advantage of working with a solar company is that they can help you maximize your return of investment by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.

There are several licensed solar professionals that can take care of your solar installation project. 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 Anderson

Factors that Affect Solar Panel Costs in Anderson

The cost of installing a solar system in Anderson can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

When it comes to estimating the cost of a solar energy system in Anderson, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by around $4,100 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Anderson, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

Finally, the company you choose to install your solar panel system can impact your pricing. Anderson’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that offers the products, warranties and services you want and also fit into your budget.

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 $8,921 16.7 years
8 kW $4.18 $23,419 $12,354 16.4 years
10 kW $4.10 $28,700 $16,017 16.0 years
12 kW $4.02 $33,751 $19,909 15.7 years
14 kW $3.94 $38,573 $24,031 15.4 years
16 kW $3.85 $43,165 $28,382 15.1 years
18 kW $3.77 $47,527 $32,963 14.8 years
20 kW $3.69 $51,660 $37,774 14.4 years

How to Save on Solar Panels

There are a large number of companies to choose from in Anderson, 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:

  • Solar Panel Brands: The brand of solar panel you need plays a role in which installer you should go with, since different companies offer different panels.
  • Warranty: If you care about the endurance of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
  • Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.

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 Anderson, IN Solar Cost FAQs

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

This is a tough question to answer precisely, 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Are solar panels free in Anderson?

A solar panel system isn’t free in Anderson, 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 can help lower the cost.

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

The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Anderson?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.

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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