Solar Panel Cost Guide in Ellettsville, IN (2024 Update)
- Ellettsville Solar Installation Cost: $24,902
- 25-Year Savings: $29,712
- Payback Period: 13.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Ellettsville
Find out what the average cost of solar panel installation is in Ellettsville.
Although the national average of solar panels is $2.66 per watt, solar panels in Ellettsville typically cost about 4.Using this figure, a typical 8.7-kW system would cost about $24,902 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.With typical savings of about $20,000 on electricity bills over 20 years, many homeowners in Ellettsville find investing in solar can pay off big.
Click the button below to get connected to a highly rated solar company in your area for a customized estimate.
Solar savings over time in Ellettsville
| Year | Return on Investment |
|---|---|
| 1 years | $-23,577 |
| 3 years | $-20,926 |
| 5 years | $-18,274 |
| 7 years | $-15,623 |
| 9 years | $-12,972 |
| 11 years | $-10,321 |
| 13 years | $-7,670 |
| 15 years | $-5,018 |
| 17 years | $-2,367 |
| 19 years | $284 |
| 21 years | $2,935 |
| 23 years | $5,586 |
| 25 years | $8,238 |
Top Solar Installers in Ellettsville
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with a solar company can make converting to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you hire a solar company too, which can save you more money over time.
If you're looking for a solar company in Ellettsville, we've 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 Ellettsville
Factors that Affect Solar Panel Costs in Ellettsville
There are a number of criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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 power your household uses, the larger your system will likely need to be. You can expect to pay about $4,100 per kilowatt in Ellettsville.The 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 power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Ellettsville average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Ellettsville homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Ellettsville is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you’ll have many options for solar installers that offer a range of services at different costs.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $13,893 | 14.1 years |
| 8 kW | $4.18 | $23,419 | $18,983 | 13.8 years |
| 10 kW | $4.10 | $28,700 | $24,303 | 13.5 years |
| 12 kW | $4.02 | $33,751 | $29,852 | 13.3 years |
| 14 kW | $3.94 | $38,573 | $35,631 | 13.0 years |
| 16 kW | $3.85 | $43,165 | $41,640 | 12.7 years |
| 18 kW | $3.77 | $47,527 | $47,878 | 12.5 years |
| 20 kW | $3.69 | $51,660 | $54,346 | 12.2 years |
How to Save on Solar Panels
There are a lot of companies available in Ellettsville, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- 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 acquire and what the project timeline is.
- Solar Panel Brands: The type of solar panel you’d like to get plays a part in which installer you should go with, since different companies have different panels.
- Contract: Before you sign a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: If you’re concerned about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Ellettsville, IN Solar Cost FAQs
How much does it cost to install solar panels in Ellettsville?
The average cost of solar panels in Ellettsville is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Ellettsville?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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 financial benefits from going solar.
Does Ellettsville have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a 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 get 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.