Solar Panel Cost Guide in Sellersburg, IN (2024 Update)
- Sellersburg Solar Installation Cost: $24,797
- 25-Year Savings: $24,222
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Sellersburg
Let’s have a look at the average cost of solar in Sellersburg.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Sellersburg, the average cost of a solar system is 4 per watt.The average solar panel system size in Sellersburg is around 8.6 kilowatts, meaning a cost of about $24,797 for a solar installation, or $35,460 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar panels you choose, your solar contractor and more.Even with the significant initial cost, the average Sellersburg homeowner can save around $18,000 on their power bills over 20 years, which is one of the benefits of solar.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Sellersburg
| Year | Return on Investment |
|---|---|
| 1 years | $-23,471 |
| 3 years | $-20,820 |
| 5 years | $-18,169 |
| 7 years | $-15,518 |
| 9 years | $-12,867 |
| 11 years | $-10,215 |
| 13 years | $-7,564 |
| 15 years | $-4,913 |
| 17 years | $-2,262 |
| 19 years | $390 |
| 21 years | $3,041 |
| 23 years | $5,692 |
| 25 years | $8,343 |
Top Solar Installers in Sellersburg
Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be time-consuming. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
If you're looking for a solar installer in Sellersburg, we've compiled a list of our top suggestions here:
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 Sellersburg
Factors that Affect Solar Panel Costs in Sellersburg
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Sellersburg: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with 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 kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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 over time on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Sellersburg average.
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 Sellersburg homeowners choose 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 amount of 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 getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Sellersburg, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $10,168 | 15.9 years |
| 8 kW | $4.18 | $23,419 | $14,016 | 15.6 years |
| 10 kW | $4.10 | $28,700 | $18,094 | 15.3 years |
| 12 kW | $4.02 | $33,751 | $22,402 | 15.0 years |
| 14 kW | $3.94 | $38,573 | $26,939 | 14.7 years |
| 16 kW | $3.85 | $43,165 | $31,706 | 14.4 years |
| 18 kW | $3.77 | $47,527 | $36,702 | 14.1 years |
| 20 kW | $3.69 | $51,660 | $41,928 | 13.8 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
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 Sellersburg, IN Solar Cost FAQs
What is the average cost of installing solar panels in Sellersburg?
This is a tough question to answer exactly, because the cost depends on many 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Sellersburg is currently $286,376, so you can look forward to a value of about $11,741 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Sellersburg is a fruitful investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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.