Solar Panel Cost Guide in Beech Grove, IN (2023 Update)
- Beech Grove Solar Installation Cost: $16,592
- 25-Year Savings: $19,677
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Beech Grove
Let's have a look at the average cost of solar in Beech Grove.
The national average cost of solar panels is $2.66 per watt, but in Beech Grove it's 2.68 per watt. Since a 8.8-kW system is needed to cover the energy costs of a typical home in Beech Grove, the average price of going solar will be about $16,584 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what installation company you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Beech Grove can save about $16,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized estimate.
Solar savings over time in Beech Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-15,307 |
| 3 years | $-12,737 |
| 5 years | $-10,168 |
| 7 years | $-7,598 |
| 9 years | $-5,028 |
| 11 years | $-2,459 |
| 13 years | $111 |
| 15 years | $2,680 |
| 17 years | $5,250 |
| 19 years | $7,820 |
| 21 years | $10,389 |
| 23 years | $12,959 |
| 25 years | $15,529 |
Top Solar Installers in Beech Grove
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make converting to solar power much easier. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Beech Grove:
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 Beech Grove
Factors that Affect Solar Panel Costs in Beech Grove
The cost of installing a solar system in Beech Grove can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest 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 determines the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose 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
Most solar installers in Beech Grove offer solar loans, which reduce the initial cost of installing solar panels. When considering 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 lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Beech Grove are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $12,899 | 11.9 years |
| 8 kW | $2.73 | $15,308 | $17,499 | 11.7 years |
| 10 kW | $2.68 | $18,760 | $22,249 | 11.4 years |
| 12 kW | $2.63 | $22,062 | $27,148 | 11.2 years |
| 14 kW | $2.57 | $25,213 | $32,198 | 11.0 years |
| 16 kW | $2.52 | $28,215 | $37,399 | 10.8 years |
| 18 kW | $2.47 | $31,067 | $42,749 | 10.5 years |
| 20 kW | $2.41 | $33,768 | $48,249 | 10.3 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Beech Grove, IN Solar Cost FAQs
What is the average cost of installing solar panels in Beech Grove?
The average cost of solar panels in Beech Grove 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.