Solar Panel Cost Guide in Bedford, IN (Mar 2023)
- Bedford Solar Installation Cost: $16,265
- 25-Year Savings: $26,716
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Bedford
Find out what the average cost of installing solar panels is in Bedford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bedford, the typical cost of solar panels is 2.68 per watt. To account for the typical energy needs of the average home in Bedford, most homeowners require a 8.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,265, or $23,259 before the federal solar tax credit of 30% is applied.
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 equipment you choose, your solar contractor and more. With average savings of about $19,000 on power bills over 20 years, many homeowners in Bedford find installing solar panels has a decent ROI.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Bedford
| Year | Return on Investment |
|---|---|
| 1 years | $-14,546 |
| 3 years | $-11,107 |
| 5 years | $-7,669 |
| 7 years | $-4,230 |
| 9 years | $-792 |
| 11 years | $2,647 |
| 13 years | $6,085 |
| 15 years | $9,524 |
| 17 years | $12,962 |
| 19 years | $16,400 |
| 21 years | $19,839 |
| 23 years | $23,277 |
| 25 years | $26,716 |
Top Solar Installers in Bedford
Although you can install solar panels by yourself, it requires extra energy and expertise. That's one of the reasons most people choose to hire a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Bedford
Factors that Affect Solar Panel Costs in Bedford
The cost of installing a solar system in Bedford 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 home 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 Bedford, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $2,680 for each additional kilowatt you need. The brand of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Bedford is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Bedford have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $18,055 | 9.8 years |
| 8 kW | $2.73 | $15,308 | $24,373 | 9.6 years |
| 10 kW | $2.68 | $18,760 | $30,842 | 9.5 years |
| 12 kW | $2.63 | $22,062 | $37,461 | 9.3 years |
| 14 kW | $2.57 | $25,213 | $44,229 | 9.1 years |
| 16 kW | $2.52 | $28,215 | $51,148 | 8.9 years |
| 18 kW | $2.47 | $31,067 | $58,217 | 8.7 years |
| 20 kW | $2.41 | $33,768 | $65,436 | 8.5 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 select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Bedford, IN Solar Cost FAQs
What is the average cost of installing solar panels in Bedford?
This is a hard question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Bedford?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is going solar worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Bedford?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.