Solar Panel Cost Guide in Bedford, IN (2023 Update)
- Bedford Solar Installation Cost: $16,256
- 25-Year Savings: $26,725
- Payback Period: 9.5 Years
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Updated September 15, 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 a solar system is 2.68 per watt. To account for the typical energy usage 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.
These figures are just averages, and how much solar costs for you may look different based on factors unique to your home and what company you go with. Despite the large initial cost, the average Bedford homeowner can save about $19,000 on their energy bills over 20 years, which is one of the perks of solar.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Bedford
| Year | Return on Investment |
|---|---|
| 1 years | $-14,930 |
| 3 years | $-12,279 |
| 5 years | $-9,628 |
| 7 years | $-6,976 |
| 9 years | $-4,325 |
| 11 years | $-1,674 |
| 13 years | $977 |
| 15 years | $3,628 |
| 17 years | $6,280 |
| 19 years | $8,931 |
| 21 years | $11,582 |
| 23 years | $14,233 |
| 25 years | $16,885 |
Top Solar Installers in Bedford
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar company can make switching to solar power much easier. Plus, if you're unsure what type of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our suggestions for providers in Bedford:
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 Bedford
Factors that Affect Solar Panel Costs in Bedford
For many Bedford homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Bedford, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of solar panels in Bedford, one of the most important 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 figure out by looking at past power bills. Your total cost can increase by around $2,680 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient 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 much 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 Bedford to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. It's wise to factor 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Bedford is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that provide a range of services at different price points. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have 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 promotion 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 | $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
The solar installer you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a role in which installer you should choose, since different companies have different panels.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
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 Bedford, IN Solar Cost FAQs
How much does it cost to install solar panels in Bedford?
This is a hard question to answer exactly, 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 consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Bedford?
A solar panel system isn't free in Bedford, but there are some options that can make getting them more feasible, 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 much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $992.04 per year.
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 should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using 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.