Solar Panel Cost Guide in Frankfort, IN (2024 Update)
- Frankfort Solar Installation Cost: $25,457
- 25-Year Savings: $23,901
- Payback Period: 15.7 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Frankfort
Find out what the average cost of installing solar panels is in Frankfort.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Frankfort, the typical cost of a solar system is 4 per watt.Since a 8.9-kW system is needed to cover the energy costs of a typical home in Frankfort, the average price of going solar will be about $25,457 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what company you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $17,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Frankfort for a quote for your home.
Solar savings over time in Frankfort
Year | Return on Investment |
---|---|
1 years | $-24,131 |
3 years | $-21,480 |
5 years | $-18,829 |
7 years | $-16,178 |
9 years | $-13,527 |
11 years | $-10,875 |
13 years | $-8,224 |
15 years | $-5,573 |
17 years | $-2,922 |
19 years | $-270 |
21 years | $2,381 |
23 years | $5,032 |
25 years | $7,683 |
Top Solar Installers in Frankfort
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make your switch to solar power much easier. The expertise that solar installers offer can be useful as well, particularly if you don’t quite know what kind of solar equipment you need.
If you're on the hunt for a solar company in Frankfort, we've organized 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 Frankfort
Factors that Affect Solar Panel Costs in Frankfort
For many Frankfort homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Frankfort, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your household, 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 about $4,100. The type of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to think 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 researching a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Frankfort homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s crucial to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, 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 | $9,514 | 16.3 years |
8 kW | $4.18 | $23,419 | $13,145 | 16.0 years |
10 kW | $4.10 | $28,700 | $17,005 | 15.7 years |
12 kW | $4.02 | $33,751 | $21,095 | 15.4 years |
14 kW | $3.94 | $38,573 | $25,414 | 15.1 years |
16 kW | $3.85 | $43,165 | $29,963 | 14.8 years |
18 kW | $3.77 | $47,527 | $34,742 | 14.4 years |
20 kW | $3.69 | $51,660 | $39,750 | 14.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar installer, be sure to 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 component breaks or malfunctions and what services you can expect from them.
- 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 considerable role in the company you go with.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
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 Frankfort, IN Solar Cost FAQs
What is the average cost of installing solar panels in Frankfort?
The average cost of solar panels in Frankfort 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Frankfort?
You can’t get solar panels for free in Frankfort. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $914.10 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.