Solar Panel Cost Guide in Alexandria, IN (2025 Update)
- Alexandria Solar Installation Cost: $25,491
- 25-Year Savings: $21,899
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Alexandria
Let’s have a look at the average cost of solar panels in Alexandria.
The average cost of a solar system in Alexandria is 4 per watt.Using this figure, a typical 8.9-kW system would cost about $25,491 before the 0 federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you will most likely differ based on your energy needs and what company you want to go with.With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Alexandria find installing solar panels can be quite rewarding.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Alexandria
| Year | Return on Investment |
|---|---|
| 1 years | $-23,873 |
| 3 years | $-20,639 |
| 5 years | $-17,404 |
| 7 years | $-14,169 |
| 9 years | $-10,934 |
| 11 years | $-7,699 |
| 13 years | $-4,464 |
| 15 years | $-1,229 |
| 17 years | $2,005 |
| 19 years | $5,240 |
| 21 years | $8,475 |
| 23 years | $11,710 |
| 25 years | $14,945 |
Top Solar Installers in Alexandria
Many homeowners decide to use a solar installation company since trying to install solar panels by yourself can be hard. The expertise that solar companies offer can be invaluable as well, particularly if you don’t quite know what brand of solar equipment would be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Alexandria
Factors that Affect Solar Panel Costs in Alexandria
While the average cost of a solar system in Alexandria is $25,491, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
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 need 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 type of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond 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 looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, 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 more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can affect the cost. Alexandria’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Alexandria have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $8,141 | 17.2 years |
| 8 kW | $4.18 | $23,419 | $11,313 | 16.9 years |
| 10 kW | $4.10 | $28,700 | $14,716 | 16.5 years |
| 12 kW | $4.02 | $33,751 | $18,347 | 16.2 years |
| 14 kW | $3.94 | $38,573 | $22,209 | 15.9 years |
| 16 kW | $3.85 | $43,165 | $26,300 | 15.5 years |
| 18 kW | $3.77 | $47,527 | $30,621 | 15.2 years |
| 20 kW | $3.69 | $51,660 | $35,171 | 14.9 years |
How to Save on Solar Panels
There are many companies to choose from in Alexandria, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
EcoWatch's Alexandria, IN Solar Cost FAQs
How much does it cost to install solar panels in Alexandria?
This is a difficult question to answer precisely, because the cost depends on a few different 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 needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Alexandria?
You can’t get solar panels for free in Alexandria. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Alexandria have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.