Solar Panel Cost Guide in Tipton, IN (2024 Update)
- Tipton Solar Installation Cost: $25,428
- 25-Year Savings: $19,320
- Payback Period: 17.7 Years
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Average Cost of Solar Panels in Tipton
See how much it might cost to install solar panels in Tipton.
The national average cost of solar panels is $2.66 per watt, but in Tipton it’s 4 per watt.The average Tipton homeowner needs a 8.9-kilowatt system, which would cost about $25,428 with the federal tax credit, or $36,362 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar panels you choose, your solar contractor and more.With average savings of about $15,000 on electricity bills over 20 years, many homeowners in Tipton find going solar can pay off big.
Click the button below to get connected to a reputable solar panel company in Tipton for a custom estimate.
Solar savings over time in Tipton
| Year | Return on Investment |
|---|---|
| 1 years | $-24,102 |
| 3 years | $-21,451 |
| 5 years | $-18,800 |
| 7 years | $-16,149 |
| 9 years | $-13,498 |
| 11 years | $-10,846 |
| 13 years | $-8,195 |
| 15 years | $-5,544 |
| 17 years | $-2,893 |
| 19 years | $-241 |
| 21 years | $2,410 |
| 23 years | $5,061 |
| 25 years | $7,712 |
Top Solar Installers in Tipton
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring an installer can make swapping over to solar power much easier. Local solar installers can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Tipton
Factors that Affect Solar Panel Costs in Tipton
There are a number of criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require 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.There are a lot of different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Tipton, and each can charge different amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for and also fit into your budget.
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 | $6,430 | 18.4 years |
| 8 kW | $4.18 | $23,419 | $9,033 | 18.0 years |
| 10 kW | $4.10 | $28,700 | $11,865 | 17.7 years |
| 12 kW | $4.02 | $33,751 | $14,927 | 17.3 years |
| 14 kW | $3.94 | $38,573 | $18,219 | 17.0 years |
| 16 kW | $3.85 | $43,165 | $21,740 | 16.6 years |
| 18 kW | $3.77 | $47,527 | $25,490 | 16.3 years |
| 20 kW | $3.69 | $51,660 | $29,471 | 15.9 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Tipton, IN Solar Cost FAQs
How much does it cost to install solar panels in Tipton?
The average cost of solar panels in Tipton 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 such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Tipton?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is going solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 level 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.