Solar Panel Cost Guide in Alexandria, IN (2024 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.
In Alexandria, solar panels cost about 4 per watt on average.The average Alexandria homeowner needs a 8.9-kilowatt system, which would cost about $25,491 with the federal tax credit, or $36,452 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary depending on a few factors, such as how many panels you need, your energy usage and what company you go with.With typical savings of about $16,000 on electricity bills over 20 years, many homeowners in Alexandria find investing in solar has a decent ROI.
You can click the button below to get connected with a top solar company in Alexandria for a quote for your home.
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
When making the switch to solar, many homeowners choose to hire a solar installation company since DIY solar panel installation can be a time-consuming project. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for your family.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Alexandria
Factors that Affect Solar Panel Costs in Alexandria
The cost of installing a solar system in Alexandria can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Alexandria, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $4,100 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Alexandria to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time because of interest.However, the interest on solar loans also adds to your overall costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Alexandria is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services at different costs.The company’s size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar companies offer 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.
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 Alexandria, IN Solar Cost FAQs
What is the average cost of installing solar panels in Alexandria?
This is a tough question to answer exactly, 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Alexandria?
Solar panels aren’t free in Alexandria, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Alexandria?
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 power bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.