Solar Panel Cost Guide in Anderson, IN (Oct 2022)

  • Anderson Solar Installation Cost: $16,659
  • 25-Year Savings: $23,058
  • Payback Period: 10.5 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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 panel system in Anderson is $3 per watt. The average Anderson homeowner needs a 8.9-kilowatt system, which would cost about $16,659, or $12,328 after the federal solar tax credit of 30% is applied.

These figures are only averages, and your own solar costs will look different based on your specific situation and what company you choose to go with. But, after you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $17,000 over 20 years on energy bills.

To receive a free quote from a pre-vetted solar company in Anderson, you can click the button below.

Solar savings over time in Anderson

Year Return on Investment
1 years $-15,070
3 years $-11,893
5 years $-8,715
7 years $-5,538
9 years $-2,361
11 years $817
13 years $3,994
15 years $7,171
17 years $10,349
19 years $13,526
21 years $16,703
23 years $19,881
25 years $23,058

Top Solar Installers in Anderson

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar company can make converting to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.

There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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

For many Anderson homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Anderson, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

System size is one of the largest factors that determines the overall cost of installing solar panels. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, 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

If paying for a solar system in cash is out of reach, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your total costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Anderson is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that offer a range of services for different budgets. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have 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 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 $15,124 10.9 years
8 kW $2.73 $15,308 $20,465 10.7 years
10 kW $2.68 $18,760 $25,957 10.5 years
12 kW $2.63 $22,062 $31,599 10.3 years
14 kW $2.57 $25,213 $37,390 10.1 years
16 kW $2.52 $28,215 $43,332 9.9 years
18 kW $2.47 $31,067 $49,424 9.6 years
20 kW $2.41 $33,768 $55,666 9.4 years

Solar Incentives in Anderson

Name Renewable Energy Property Tax Exemption
Website Visit here
More Info Click here

Name Indiana Michigan Power - Energy Savings Rebate Program
Website Visit here
More Info Click here

Name NineStar Connect - Residential Energy Efficient Equipment Rebate Program
Website Visit here
More Info Click here

Name Noble REMC - Residential Energy Efficiency Rebate Incentives
Website Visit here
More Info Click here

Name NIPSCO - Feed-In Tariff
Website Visit here
More Info Click here

Name Duke Energy - Residential and Builder Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are many companies available in Anderson, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable 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 look into your installer's reputation is by reading reviews.
  • Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in Anderson?

You can't get solar panels for free in Anderson. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

Do solar panels increase how much your home is worth?

Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

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 uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.

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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us