Solar Panel Cost Guide in Alexandria, IN (2023 Update)
- Alexandria Solar Installation Cost: $16,659
- 25-Year Savings: $21,902
- Payback Period: 10.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Alexandria
See how much it might cost to switch to solar power in Alexandria.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Alexandria, the typical cost of solar panels is 2.68 per watt. The average solar panel system size in Alexandria is around 8.9 kilowatts, meaning a cost of about $16,659 for a solar installation, or $23,822 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar system you want to get, your solar contractor and more. Even with the large upfront cost, the average Alexandria homeowner can save about $16,000 on their electricity bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a highly rated solar company in your area for a customized quote.
Solar savings over time in Alexandria
| Year | Return on Investment |
|---|---|
| 1 years | $-15,116 |
| 3 years | $-12,032 |
| 5 years | $-8,947 |
| 7 years | $-5,862 |
| 9 years | $-2,777 |
| 11 years | $308 |
| 13 years | $3,393 |
| 15 years | $6,478 |
| 17 years | $9,563 |
| 19 years | $12,648 |
| 21 years | $15,733 |
| 23 years | $18,817 |
| 25 years | $21,902 |
Top Solar Installers in Alexandria
Many homeowners opt for a solar installation company since figuring out how to install solar panels on your own can be challenging. The expertise that solar installers provide can be valuable as well, particularly if you don't quite know what brand of solar equipment you need.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Alexandria
Factors that Affect Solar Panel Costs in Alexandria
There are a number of criteria that can play into 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
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,680 per kilowatt in Alexandria. The brand of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about 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
Most solar installers in Alexandria provide solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also adds to your overall costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that offers the products, warranties and services you want and also fits within 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 | $2.79 | $11,706 | $14,343 | 11.2 years |
| 8 kW | $2.73 | $15,308 | $19,424 | 11.0 years |
| 10 kW | $2.68 | $18,760 | $24,656 | 10.8 years |
| 12 kW | $2.63 | $22,062 | $30,037 | 10.6 years |
| 14 kW | $2.57 | $25,213 | $35,568 | 10.4 years |
| 16 kW | $2.52 | $28,215 | $41,250 | 10.2 years |
| 18 kW | $2.47 | $31,067 | $47,081 | 9.9 years |
| 20 kW | $2.41 | $33,768 | $53,063 | 9.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- 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 install your solar system. Another way you can check your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Alexandria, IN Solar Cost FAQs
How much does it cost to install solar panels in Alexandria?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Alexandria have a net metering program?
Each state has some form 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 electricity bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.