Solar Panel Cost Guide in Greenfield, IN (2025 Update)
- Greenfield Solar Installation Cost: $25,441
- 25-Year Savings: $23,445
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Greenfield
Let’s take a look at the average cost of solar panels in Greenfield.
In Greenfield, solar panels cost about 4 per watt on average.Since a 8.9-kW system is needed to cover the energy costs of a typical home in Greenfield, the average price of going solar will be about $25,441 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 energy system. The exact cost of going solar can vary quite a bit depending on a few factors, such as what size system you need, your energy consumption and what company you go with.Even with the high initial cost, the average Greenfield homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Greenfield
| Year | Return on Investment |
|---|---|
| 1 years | $-24,058 |
| 3 years | $-21,291 |
| 5 years | $-18,525 |
| 7 years | $-15,758 |
| 9 years | $-12,992 |
| 11 years | $-10,225 |
| 13 years | $-7,459 |
| 15 years | $-4,692 |
| 17 years | $-1,926 |
| 19 years | $841 |
| 21 years | $3,607 |
| 23 years | $6,374 |
| 25 years | $9,140 |
Top Solar Installers in Greenfield
Although it's possible to install solar panels by yourself, it requires extra effort and expertise. That's why most people choose a solar panel installer. Another upside of going with a solar installer is that they can help you optimize your investment by bringing down your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
If you’d like to go solar but still aren’t sure which solar panel company to go with, here are our suggestions for providers near you:
See all of the solar companies in Greenfield
Factors that Affect Solar Panel Costs in Greenfield
The cost of installing a solar system in Greenfield can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,100. There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Greenfield provide solar loans, which reduce the initial cost of installing solar panels.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Greenfield, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $9,216 | 16.5 years |
| 8 kW | $4.18 | $23,419 | $12,747 | 16.2 years |
| 10 kW | $4.10 | $28,700 | $16,508 | 15.9 years |
| 12 kW | $4.02 | $33,751 | $20,499 | 15.6 years |
| 14 kW | $3.94 | $38,573 | $24,719 | 15.2 years |
| 16 kW | $3.85 | $43,165 | $29,168 | 14.9 years |
| 18 kW | $3.77 | $47,527 | $33,847 | 14.6 years |
| 20 kW | $3.69 | $51,660 | $38,756 | 14.3 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the project completion timeline.
- Warranty: If you care about the endurance of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
EcoWatch's Greenfield, IN Solar Cost FAQs
How much does it cost to install solar panels in Greenfield?
The average cost of solar panels in Greenfield 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.
Is it better to lease or buy solar panels in Greenfield?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase your home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much 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 install between 20 and 35 panels to account for 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.