Solar Panel Cost Guide in New Whiteland, IN (2024 Update)
- New Whiteland Solar Installation Cost: $25,125
- 25-Year Savings: $24,090
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in New Whiteland
Let’s take a look at the average cost of solar in New Whiteland.
The average cost of solar panels in New Whiteland is 4 per watt.Using this figure, a typical 8.8-kW system would cost about $25,125 before the 0 federal solar tax credit is applied.
How much you pay can go higher or lower than the average in New Whiteland based on a few factors, such as the kind of solar panels you choose and the solar installer you hire.Even with the high initial cost, the average New Whiteland homeowner can save about $18,000 on their power bills over 20 years, which is one of the benefits of solar.
To get a free estimate from a highly rated solar installation company in New Whiteland, you can click the button below.
Solar savings over time in New Whiteland
| Year | Return on Investment |
|---|---|
| 1 years | $-23,800 |
| 3 years | $-21,149 |
| 5 years | $-18,497 |
| 7 years | $-15,846 |
| 9 years | $-13,195 |
| 11 years | $-10,544 |
| 13 years | $-7,893 |
| 15 years | $-5,241 |
| 17 years | $-2,590 |
| 19 years | $61 |
| 21 years | $2,712 |
| 23 years | $5,363 |
| 25 years | $8,015 |
Top Solar Installers in New Whiteland
When going solar, many homeowners choose to use a solar installer since handling can be a difficult project. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
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 New Whiteland
Factors that Affect Solar Panel Costs in New Whiteland
Though the average cost of a solar system in New Whiteland is $25,125, your final cost may differ. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
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 uses, the larger your system will likely need to be. You can expect to spend about $4,100 per kilowatt in New Whiteland.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like New Whiteland, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in New Whiteland is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide 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 pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $9,857 | 16.1 years |
| 8 kW | $4.18 | $23,419 | $13,602 | 15.8 years |
| 10 kW | $4.10 | $28,700 | $17,576 | 15.5 years |
| 12 kW | $4.02 | $33,751 | $21,780 | 15.2 years |
| 14 kW | $3.94 | $38,573 | $26,214 | 14.9 years |
| 16 kW | $3.85 | $43,165 | $30,877 | 14.6 years |
| 18 kW | $3.77 | $47,527 | $35,770 | 14.3 years |
| 20 kW | $3.69 | $51,660 | $40,893 | 14.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: The brand of solar panel you want to install plays a part in which installer you should go with, since different companies offer different panels.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
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 New Whiteland, IN Solar Cost FAQs
What is the average cost of installing solar panels in New Whiteland?
This is a hard question to answer exactly, 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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want 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 keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $925.53 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable 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 keep using 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.