Solar Panel Cost Guide in Pendleton, IN (2024 Update)
- Pendleton Solar Installation Cost: $25,491
- 25-Year Savings: $23,512
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Pendleton
Let’s take a look at the average cost of solar in Pendleton.
The average cost of a solar panel system in Pendleton is 4 per watt.To account for the typical energy needs of the average home in Pendleton, most homeowners require a 8.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $25,491, or $36,452 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy consumption and what installation company you go with.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Pendleton see about $17,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Pendleton
| Year | Return on Investment |
|---|---|
| 1 years | $-24,040 |
| 3 years | $-21,137 |
| 5 years | $-18,235 |
| 7 years | $-15,333 |
| 9 years | $-12,431 |
| 11 years | $-9,529 |
| 13 years | $-6,626 |
| 15 years | $-3,724 |
| 17 years | $-822 |
| 19 years | $2,080 |
| 21 years | $4,983 |
| 23 years | $7,885 |
| 25 years | $10,787 |
Top Solar Installers in Pendleton
Many homeowners decide to use a solar installation company since installing solar panels yourself can be a labor-intensive endeavor. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money after your initial investment.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Pendleton
Factors that Affect Solar Panel Costs in Pendleton
Though the average cost of a solar system in Pendleton is $25,491, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The model of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, 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 searching for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Pendleton homeowners choose to finance their solar panel systems to make going solar more affordable.Even though solar loans make going solar more accessible for Pendleton homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $9,230 | 16.5 years |
| 8 kW | $4.18 | $23,419 | $12,766 | 16.2 years |
| 10 kW | $4.10 | $28,700 | $16,532 | 15.9 years |
| 12 kW | $4.02 | $33,751 | $20,527 | 15.5 years |
| 14 kW | $3.94 | $38,573 | $24,752 | 15.2 years |
| 16 kW | $3.85 | $43,165 | $29,206 | 14.9 years |
| 18 kW | $3.77 | $47,527 | $33,890 | 14.6 years |
| 20 kW | $3.69 | $51,660 | $38,804 | 14.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, 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. While 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 options before deciding.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into 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 Pendleton, IN Solar Cost FAQs
How much does it cost to install solar panels in Pendleton?
The average cost of solar panels in Pendleton 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 like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Pendleton?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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.
Does Pendleton have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of 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.