Solar Panel Cost Guide in Mount Vernon, IN (2024 Update)
- Mount Vernon Solar Installation Cost: $24,214
- 25-Year Savings: $34,424
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Mount Vernon
Find out how much it might cost to switch to solar power in Mount Vernon.
In Mount Vernon, solar panels cost about 4 per watt on average.The average solar panel system size in Mount Vernon is around 8.4 kilowatts, meaning a cost of about $24,214 for a solar installation, or $34,626 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Mount Vernon homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $23,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Mount Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-22,432 |
| 3 years | $-18,868 |
| 5 years | $-15,304 |
| 7 years | $-11,740 |
| 9 years | $-8,177 |
| 11 years | $-4,613 |
| 13 years | $-1,049 |
| 15 years | $2,515 |
| 17 years | $6,079 |
| 19 years | $9,642 |
| 21 years | $13,206 |
| 23 years | $16,770 |
| 25 years | $20,334 |
Top Solar Installers in Mount Vernon
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar panel installer can make swapping over to solar power much easier. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar company in Mount Vernon, the EcoWatch team has put together 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 Mount Vernon
Factors that Affect Solar Panel Costs in Mount Vernon
Although the average cost of a solar system in Mount Vernon is $24,214, your final cost may differ. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Mount Vernon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by about $4,100 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose 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
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Mount Vernon, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.While solar loans make adopting solar energy more accessible for Mount Vernon homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating in Mount Vernon, and each can charge different amounts for labor and equipment.Additionally, some companies in Mount Vernon are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $17,828 | 12.5 years |
| 8 kW | $4.18 | $23,419 | $24,230 | 12.3 years |
| 10 kW | $4.10 | $28,700 | $30,862 | 12.0 years |
| 12 kW | $4.02 | $33,751 | $37,723 | 11.8 years |
| 14 kW | $3.94 | $38,573 | $44,813 | 11.6 years |
| 16 kW | $3.85 | $43,165 | $52,134 | 11.3 years |
| 18 kW | $3.77 | $47,527 | $59,684 | 11.1 years |
| 20 kW | $3.69 | $51,660 | $67,463 | 10.8 years |
How to Save on Solar Panels
There are many companies available in Mount Vernon, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: The model of solar panel you’d like to get plays a role in which installer you should opt for, since different companies have access to different panels.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
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 Mount Vernon, IN Solar Cost FAQs
What is the average cost of installing solar panels in Mount Vernon?
This is a hard 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Mount Vernon?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in Mount Vernon?
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 give you credit toward your future electricity bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption 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.
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.