Solar Panel Cost Guide in Bright, IN (2024 Update)
- Bright Solar Installation Cost: $24,917
- 25-Year Savings: $23,770
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Bright
Find out what the average cost of installing solar panels is in Bright.
The national average cost of solar panels is $2.66 per watt, but in Bright it’s 4 per watt.To cover the typical energy usage of the average home in Bright, most homeowners require a 8.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $24,917, or $35,631 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Bright based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire.Even with the large upfront cost, the average Bright homeowner can save around $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a top solar installer in your area for a personalized estimate.
Solar savings over time in Bright
| Year | Return on Investment |
|---|---|
| 1 years | $-23,591 |
| 3 years | $-20,940 |
| 5 years | $-18,289 |
| 7 years | $-15,637 |
| 9 years | $-12,986 |
| 11 years | $-10,335 |
| 13 years | $-7,684 |
| 15 years | $-5,032 |
| 17 years | $-2,381 |
| 19 years | $270 |
| 21 years | $2,921 |
| 23 years | $5,572 |
| 25 years | $8,224 |
Top Solar Installers in Bright
Although you can install solar panels by yourself, it takes extra effort and expertise. For that reason, the majority of homeowners choose to go with a solar panel installer. Solar warranties and repairs are usually included in the cost of installation when you hire a solar contractor as well, which can save you more money over time.
If you're searching for a solar company in Bright, the EcoWatch team has compiled a list of our top suggestions here:
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 Bright
Factors that Affect Solar Panel Costs in Bright
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Bright: 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 going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $4,100 per kilowatt in Bright.The type of solar equipment you choose can bring your price up or down 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. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Bright average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable route because they decrease your upfront costs and let you pay for your system over five to seven years on average.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can influence your pricing. Bright’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 come with an above-average cost. It’s best to do some research and decide on the company that has 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 | $9,775 | 16.2 years |
| 8 kW | $4.18 | $23,419 | $13,492 | 15.9 years |
| 10 kW | $4.10 | $28,700 | $17,439 | 15.6 years |
| 12 kW | $4.02 | $33,751 | $21,616 | 15.2 years |
| 14 kW | $3.94 | $38,573 | $26,022 | 14.9 years |
| 16 kW | $3.85 | $43,165 | $30,658 | 14.6 years |
| 18 kW | $3.77 | $47,527 | $35,523 | 14.3 years |
| 20 kW | $3.69 | $51,660 | $40,618 | 14.0 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Installation Process: One of the most important things to understand when adopting solar power 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 acquire and what the project timeline is.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated 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 positive reviews from past customers.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Bright, IN Solar Cost FAQs
What is the average cost of installing solar panels in Bright?
This is a hard question to answer precisely, because the cost depends on a variety of 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 higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Bright?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Bright have a net metering program?
Each state has some form 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 energy bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs 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.