Solar Panel Cost Guide in Anderson, IN (2024 Update)
- Anderson Solar Installation Cost: $25,491
- 25-Year Savings: $23,055
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Anderson
Find out what the average cost of solar panel installation is in Anderson.
The average cost of a solar system in Anderson is 4 per watt.Because a 8.9-kW system is needed to cover the energy needs of a typical home in Anderson, the average price of going solar will be about $25,491 after claiming the federal solar tax credit of 0.
The true cost of your system can be higher or lower than the average in Anderson depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.But, after you've paid the initial cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on power bills.
Click the button below to get connected to a highly rated solar panel company in your area for a custom quote.
Solar savings over time in Anderson
| Year | Return on Investment |
|---|---|
| 1 years | $-23,978 |
| 3 years | $-20,953 |
| 5 years | $-17,927 |
| 7 years | $-14,901 |
| 9 years | $-11,876 |
| 11 years | $-8,850 |
| 13 years | $-5,825 |
| 15 years | $-2,799 |
| 17 years | $226 |
| 19 years | $3,252 |
| 21 years | $6,277 |
| 23 years | $9,303 |
| 25 years | $12,328 |
Top Solar Installers in Anderson
Although you can install solar panels yourself, it involves extra effort and know-how. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Another advantage of working with a solar company is that they can help you maximize your return of investment by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Anderson
Factors that Affect Solar Panel Costs in Anderson
The cost of installing a solar system in Anderson can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Anderson homeowners decide to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Anderson, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $8,921 | 16.7 years |
| 8 kW | $4.18 | $23,419 | $12,354 | 16.4 years |
| 10 kW | $4.10 | $28,700 | $16,017 | 16.0 years |
| 12 kW | $4.02 | $33,751 | $19,909 | 15.7 years |
| 14 kW | $3.94 | $38,573 | $24,031 | 15.4 years |
| 16 kW | $3.85 | $43,165 | $28,382 | 15.1 years |
| 18 kW | $3.77 | $47,527 | $32,963 | 14.8 years |
| 20 kW | $3.69 | $51,660 | $37,774 | 14.4 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
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 Anderson, IN Solar Cost FAQs
What is the average cost of installing solar panels in Anderson?
The average cost of solar panels in Anderson is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Anderson?
Solar panels aren’t free in Anderson, 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.
Can you sell solar power back to the grid in Anderson?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having 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.