Solar Panel Cost Guide in Lebanon, IN (2024 Update)
- Lebanon Solar Installation Cost: $25,425
- 25-Year Savings: $23,773
- Payback Period: 15.7 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 Lebanon
Find out what the average cost of solar panel installation is in Lebanon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lebanon, the average cost of solar panels is 4 per watt.The average Lebanon homeowner needs a 8.9-kilowatt system, which would cost about $25,425 with the federal tax credit, or $36,358 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Lebanon homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $17,000 on electricity bills over 20 years, many homeowners in Lebanon find investing in solar can be quite rewarding.
You can click the button below to get connected with a top solar installer in Lebanon that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-24,120 |
| 3 years | $-21,510 |
| 5 years | $-18,899 |
| 7 years | $-16,289 |
| 9 years | $-13,679 |
| 11 years | $-11,068 |
| 13 years | $-8,458 |
| 15 years | $-5,847 |
| 17 years | $-3,237 |
| 19 years | $-626 |
| 21 years | $1,984 |
| 23 years | $4,594 |
| 25 years | $7,205 |
Top Solar Installers in Lebanon
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make converting to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar contractor as well, which can save you more money after your upfront investment.
There are several 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 Lebanon
Factors that Affect Solar Panel Costs in Lebanon
Though the average cost of a solar system in Lebanon is $25,425, your actual cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
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 electricity your household uses, the larger your system will likely need to be. You can expect to spend around $4,100 per kilowatt in Lebanon.The brand of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your total costs, so it’s crucial to keep that in mind 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 company you choose will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Lebanon are more knowledgeable 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 | $9,448 | 16.4 years |
| 8 kW | $4.18 | $23,419 | $13,057 | 16.1 years |
| 10 kW | $4.10 | $28,700 | $16,895 | 15.7 years |
| 12 kW | $4.02 | $33,751 | $20,962 | 15.4 years |
| 14 kW | $3.94 | $38,573 | $25,260 | 15.1 years |
| 16 kW | $3.85 | $43,165 | $29,787 | 14.8 years |
| 18 kW | $3.77 | $47,527 | $34,543 | 14.5 years |
| 20 kW | $3.69 | $51,660 | $39,529 | 14.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. 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 make sure you ask for their list of offerings before deciding.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar installer. Make sure you understand how the installation process works and the project completion timeline.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Lebanon, IN Solar Cost FAQs
How much does it cost to install solar panels in Lebanon?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Lebanon?
You can’t get solar panels for free in Lebanon. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Lebanon, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 stop working completely 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 continue to use 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.