Solar Panel Cost Guide in Alexandria, IN (2023 Update)
- Alexandria Solar Installation Cost: $16,662
- 25-Year Savings: $21,899
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Alexandria
We go over average solar pricing in Alexandria.
While the national average of solar panels is $2.66 per watt, solar panels in Alexandria typically cost about 2.68. Because a 8.9-kW system is needed to cover the energy usage of a typical home in Alexandria, the average price of going solar will be about $16,659 after claiming the federal solar tax credit of 30%.
Remember 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 want to get, your solar contractor and more. But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on energy bills.
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Solar savings over time in Alexandria
| Year | Return on Investment |
|---|---|
| 1 years | $-15,045 |
| 3 years | $-11,810 |
| 5 years | $-8,575 |
| 7 years | $-5,340 |
| 9 years | $-2,105 |
| 11 years | $1,129 |
| 13 years | $4,364 |
| 15 years | $7,599 |
| 17 years | $10,834 |
| 19 years | $14,069 |
| 21 years | $17,304 |
| 23 years | $20,539 |
| 25 years | $23,773 |
Top Solar Installers in Alexandria
When switching to solar energy, many homeowners prefer to use a solar company since putting up solar panels yourself can be a difficult project. The expertise that solar companies offer can be useful as well, especially if you don't quite know what kind of solar equipment you need.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our suggestions for providers in Alexandria:
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 depends on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of solar panels 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 consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,680 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Alexandria, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Alexandria provide solar loans, which reduce the initial cost of installing solar. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down 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 | $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 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:
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- 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: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
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 precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose 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 can further reduce the cost.
How will solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Alexandria is currently $93,300, which means you could be looking at a value of about $3,825 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Alexandria is a worthwhile investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.
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.