Solar Panel Cost Guide in Bloomington, IN (Dec 2022)

  • Bloomington Solar Installation Cost: $16,284
  • 25-Year Savings: $28,761
  • Payback Period: 9.0 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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 Bloomington

See how much it might cost to switch to solar power in Bloomington.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Bloomington, the average cost of solar panels is $3 per watt. The average solar panel system size in Bloomington is around 8.7 kilowatts, meaning a cost of about $16,284 for a solar installation, or $12,050 after the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $20,000 over 20 years on energy bills.

To get a free estimate from a vetted solar installer in Bloomington, you can click the button below.

Solar savings over time in Bloomington

Year Return on Investment
1 years $-14,482
3 years $-10,878
5 years $-7,275
7 years $-3,671
9 years $-68
11 years $3,536
13 years $7,140
15 years $10,743
17 years $14,347
19 years $17,950
21 years $21,554
23 years $25,157
25 years $28,761

Top Solar Installers in Bloomington

When going solar, many homeowners decide to use a solar installation company since handling can be a difficult project. Plus, if you're unsure what type of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.

There are a number of licensed solar professionals that can install solar panels for you. 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

Tesla Energy

★★★★★
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 Bloomington

Factors that Affect Solar Panel Costs in Bloomington

The cost of installing a solar system in Bloomington can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Bloomington homeowners choose to finance their solar panel systems to make going solar more affordable. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies operating in Bloomington, and each can charge varying amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that provides the products, warranties and services you want and also fit into your budget.

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 $19,442 9.4 years
8 kW $2.73 $15,308 $26,223 9.2 years
10 kW $2.68 $18,760 $33,154 9.0 years
12 kW $2.63 $22,062 $40,235 8.9 years
14 kW $2.57 $25,213 $47,466 8.7 years
16 kW $2.52 $28,215 $54,847 8.5 years
18 kW $2.47 $31,067 $62,378 8.3 years
20 kW $2.41 $33,768 $70,059 8.1 years

How to Save on Solar Panels

The solar installer you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:

  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
  • Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
  • Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
  • Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.

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

Tesla Energy

★★★★★
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 Bloomington, IN Solar Cost FAQs

How much does it cost to install solar panels in Bloomington?

The average cost of solar panels in Bloomington is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important thing to consider when buying solar panels?

The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

Can you sell solar power back to the grid in Bloomington?

The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future utility 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?

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 larger 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.

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