Solar Panel Cost Guide in McCordsville, IN (2024 Update)
- McCordsville Solar Installation Cost: $25,441
- 25-Year Savings: $23,249
- Payback Period: 15.9 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 McCordsville
We break down average solar pricing in McCordsville.
Although the national average of solar panels is $2.66 per watt, solar panels in McCordsville typically cost about 4.Using this figure, a typical 8.9-kW system would cost about $25,441 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what installation company you go with.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in McCordsville
| Year | Return on Investment |
|---|---|
| 1 years | $-24,156 |
| 3 years | $-21,586 |
| 5 years | $-19,017 |
| 7 years | $-16,447 |
| 9 years | $-13,877 |
| 11 years | $-11,308 |
| 13 years | $-8,738 |
| 15 years | $-6,169 |
| 17 years | $-3,599 |
| 19 years | $-1,029 |
| 21 years | $1,540 |
| 23 years | $4,110 |
| 25 years | $6,680 |
Top Solar Installers in McCordsville
Although it's possible to install solar panels on your own, it involves extra effort and know-how. Because of that, most homeowners choose to go with a solar panel installer. In addition, if you’d like to maximize your investment in solar, using a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives.
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 McCordsville
Factors that Affect Solar Panel Costs in McCordsville
There are many factors that can influence your solar panel 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
When it comes to estimating the cost of a solar panel system in McCordsville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $4,100 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many McCordsville homeowners decide to finance their solar panel systems to offset upfront costs.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
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 McCordsville is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services at different costs.Additionally, some companies in McCordsville 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 end up saving you 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 | $9,083 | 16.6 years |
| 8 kW | $4.18 | $23,419 | $12,570 | 16.3 years |
| 10 kW | $4.10 | $28,700 | $16,287 | 15.9 years |
| 12 kW | $4.02 | $33,751 | $20,233 | 15.6 years |
| 14 kW | $3.94 | $38,573 | $24,409 | 15.3 years |
| 16 kW | $3.85 | $43,165 | $28,814 | 15.0 years |
| 18 kW | $3.77 | $47,527 | $33,449 | 14.7 years |
| 20 kW | $3.69 | $51,660 | $38,313 | 14.4 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Solar Panel Brands: The type of solar panel you need plays a part in which company you should go with, since different companies provide different panels.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 McCordsville, IN Solar Cost FAQs
How much does it cost to install solar panels in McCordsville?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost 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.
How will having solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in McCordsville is currently $351,826, which means you can look forward to a value of about $14,425 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in McCordsville is a fruitful investment.
How long do solar panels last in McCordsville?
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 how much energy they produce will have decreased significantly after that point. You can opt 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.