Solar Panel Cost Guide in Edinburgh, IN (2024 Update)
- Edinburgh Solar Installation Cost: $25,071
- 25-Year Savings: $25,834
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Edinburgh
See how much it might cost to go solar in Edinburgh.
The national average cost of solar panels is $2.66 per watt, but in Edinburgh it’s 4 per watt.The average solar panel system size in Edinburgh is around 8.7 kilowatts, meaning a cost of about $25,071 for a solar installation, or $35,852 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Edinburgh homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $18,000 on power bills over 20 years, many homeowners in Edinburgh find going solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Edinburgh that can help you get a more accurate cost estimate for your home.
Solar savings over time in Edinburgh
| Year | Return on Investment |
|---|---|
| 1 years | $-23,745 |
| 3 years | $-21,094 |
| 5 years | $-18,443 |
| 7 years | $-15,791 |
| 9 years | $-13,140 |
| 11 years | $-10,489 |
| 13 years | $-7,838 |
| 15 years | $-5,187 |
| 17 years | $-2,535 |
| 19 years | $116 |
| 21 years | $2,767 |
| 23 years | $5,418 |
| 25 years | $8,069 |
Top Solar Installers in Edinburgh
When making the switch to solar, many homeowners prefer to hire a solar company since handling can be a difficult project. Companies can also have access to various kinds of the best solar panels and help you choose which one will be right for your home.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Edinburgh
Factors that Affect Solar Panel Costs in Edinburgh
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Edinburgh: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar energy 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 nearly $4,100. 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, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Edinburgh average.
Solar Financing Terms
Many homeowners find the average cost of solar in Edinburgh to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in paying more over time because of interest.You’ll have to consider the long-term cost of financing options, 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 principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Edinburgh is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Edinburgh 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 | $11,092 | 15.4 years |
| 8 kW | $4.18 | $23,419 | $15,248 | 15.1 years |
| 10 kW | $4.10 | $28,700 | $19,634 | 14.8 years |
| 12 kW | $4.02 | $33,751 | $24,249 | 14.5 years |
| 14 kW | $3.94 | $38,573 | $29,095 | 14.3 years |
| 16 kW | $3.85 | $43,165 | $34,169 | 14.0 years |
| 18 kW | $3.77 | $47,527 | $39,474 | 13.7 years |
| 20 kW | $3.69 | $51,660 | $45,008 | 13.4 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: Review the contract terms closely to make sure you understand the total cost, completion timeline rebates and warranties.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
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 Edinburgh, IN Solar Cost FAQs
What is the average cost of installing solar panels in Edinburgh?
The average cost of solar panels in Edinburgh is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Edinburgh is currently $201,297, which means you can expect a value of about $8,253 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Edinburgh is a rewarding investment.
How often do you have to replace solar panels?
Even 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 the amount of energy they produce will have decreased significantly after that point. You can decide to 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.