Solar Panel Cost Guide in Terre Haute, IN (2024 Update)

  • Terre Haute Solar Installation Cost: $25,015
  • 25-Year Savings: $23,849
  • Payback Period: 15.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Terre Haute

Let’s take a look at the average cost of solar panels in Terre Haute.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Terre Haute, the typical cost of a solar system is 4 per watt.The average solar panel system size in Terre Haute is around 8.7 kilowatts, meaning a cost of about $25,015 for a solar installation, or $35,771 before the 0 federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Terre Haute homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the high upfront cost, the average Terre Haute homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.

Click the button below to get connected to a vetted solar installer in Terre Haute for a customized estimate.

Solar savings over time in Terre Haute

Year Return on Investment
1 years $-23,690
3 years $-21,038
5 years $-18,387
7 years $-15,736
9 years $-13,085
11 years $-10,434
13 years $-7,782
15 years $-5,131
17 years $-2,480
19 years $171
21 years $2,823
23 years $5,474
25 years $8,125

Top Solar Installers in Terre Haute

Trying to put up solar panels yourself can be a challenging project, which is why using a solar installation company is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for your family.

Working with a vetted solar installer can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Terre Haute

Factors that Affect Solar Panel Costs in Terre Haute

Even though the average cost of a solar system in Terre Haute is $25,015, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,100.The type 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, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Terre Haute average.

Solar Financing Terms

Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Terre Haute homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

The solar installer you select will impact your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 $9,764 16.2 years
8 kW $4.18 $23,419 $13,478 15.9 years
10 kW $4.10 $28,700 $17,422 15.6 years
12 kW $4.02 $33,751 $21,595 15.2 years
14 kW $3.94 $38,573 $25,997 14.9 years
16 kW $3.85 $43,165 $30,630 14.6 years
18 kW $3.77 $47,527 $35,492 14.3 years
20 kW $3.69 $51,660 $40,583 14.0 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, 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:

  • Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
  • Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
  • Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
  • Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Terre Haute, IN Solar Cost FAQs

What is the average cost of installing solar panels in Terre Haute?

The average cost of solar panels in Terre Haute 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important thing to consider when buying solar panels?

Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Is it worth going solar in Terre Haute?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.

How long do solar panels last in Terre Haute?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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.

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