Solar Panel Cost Guide in Rushville, IN (2024 Update)
- Rushville Solar Installation Cost: $25,213
- 25-Year Savings: $26,658
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Rushville
Find out what the average cost of installing solar panels is in Rushville.
The average cost of a solar system in Rushville is 4 per watt.To cover the typical energy needs of the average home in Rushville, most homeowners require a 8.8-kilowatt system. Using the figure above, a solar installation costs about $25,213, or $36,055 before the federal solar tax credit of 0 is applied.
The true cost of your system can go higher or lower than the average in Rushville depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Rushville see about $19,000 in savings on utility bills over 20 years.
To receive a free estimate from a highly rated solar installation company in Rushville, you can click the button below.
Solar savings over time in Rushville
| Year | Return on Investment |
|---|---|
| 1 years | $-23,887 |
| 3 years | $-21,236 |
| 5 years | $-18,585 |
| 7 years | $-15,933 |
| 9 years | $-13,282 |
| 11 years | $-10,631 |
| 13 years | $-7,980 |
| 15 years | $-5,329 |
| 17 years | $-2,677 |
| 19 years | $-26 |
| 21 years | $2,625 |
| 23 years | $5,276 |
| 25 years | $7,927 |
Top Solar Installers in Rushville
When switching to solar energy, many homeowners decide to use a solar installer since DIY solar panel installation can be a time-consuming project. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for your family.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Rushville:
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 Rushville
Factors that Affect Solar Panel Costs in Rushville
While the average cost of a solar system in Rushville is $25,213, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,100.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
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 Rushville homeowners opt to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Rushville is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services at different costs.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger 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 | $11,554 | 15.2 years |
| 8 kW | $4.18 | $23,419 | $15,865 | 14.9 years |
| 10 kW | $4.10 | $28,700 | $20,405 | 14.6 years |
| 12 kW | $4.02 | $33,751 | $25,175 | 14.3 years |
| 14 kW | $3.94 | $38,573 | $30,174 | 14.0 years |
| 16 kW | $3.85 | $43,165 | $35,403 | 13.7 years |
| 18 kW | $3.77 | $47,527 | $40,861 | 13.4 years |
| 20 kW | $3.69 | $51,660 | $46,550 | 13.2 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project timeline rebates and warranties.
- Warranty: If you’re worried about the durability of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: When making the switch to solar power, it’s important to maintain an open line of communication with your solar installer. Make sure you understand how the installation process works and the completion timeline.
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 Rushville, IN Solar Cost FAQs
How much does it cost to install solar panels in Rushville?
This is a tough question to answer exactly, because the cost depends on a few different 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 higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Rushville?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $982.10 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.