Solar Panel Cost Guide in Mitchell, IN (2024 Update)

  • Mitchell Solar Installation Cost: $24,869
  • 25-Year Savings: $25,395
  • Payback Period: 14.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Mitchell

Let’s take a look at the average cost of solar panels in Mitchell.

Although the national average of solar panels is $2.66 per watt, solar panels in Mitchell typically cost around 4.To account for the typical energy needs of the average home in Mitchell, most homeowners require a 8.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $24,869, or $35,563 before the federal solar tax credit of 0 is applied.

These figures are only averages, and how much solar costs for you will look different based on factors unique to your home and what company you go with.Despite the significant initial cost, the average Mitchell homeowner can save about $18,000 on their power bills over 20 years, which is one of the benefits of solar.

For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Mitchell

Year Return on Investment
1 years $-23,543
3 years $-20,892
5 years $-18,241
7 years $-15,589
9 years $-12,938
11 years $-10,287
13 years $-7,636
15 years $-4,985
17 years $-2,333
19 years $318
21 years $2,969
23 years $5,620
25 years $8,271

Top Solar Installers in Mitchell

Putting up solar panels on your own can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.

Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Mitchell

Factors that Affect Solar Panel Costs in Mitchell

There are many factors that can determine your 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 going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $4,100 per kilowatt in Mitchell.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Mitchell average.

Solar Financing Terms

Most solar companies in Mitchell provide solar loans, which reduce the initial cost of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Mitchell is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 $10,931 15.5 years
8 kW $4.18 $23,419 $15,034 15.2 years
10 kW $4.10 $28,700 $19,367 14.9 years
12 kW $4.02 $33,751 $23,929 14.6 years
14 kW $3.94 $38,573 $28,721 14.3 years
16 kW $3.85 $43,165 $33,742 14.0 years
18 kW $3.77 $47,527 $38,993 13.7 years
20 kW $3.69 $51,660 $44,474 13.4 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:

  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
  • Contract: Read the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Mitchell, IN Solar Cost FAQs

How much does it cost to install solar panels in Mitchell?

The average cost of solar panels in Mitchell 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 model of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important thing to consider when buying solar panels?

Cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

Can you sell solar power back to the grid in Mitchell?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.

How many solar panels should I get to power 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 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 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.

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