Solar Panel Cost Guide in Boonville, IN (Jan 2023)
- Boonville Solar Installation Cost: $15,984
- 25-Year Savings: $30,796
- Payback Period: 8.5 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Boonville
We break down average solar pricing in Boonville.
The average cost of a solar panel system in Boonville is $3 per watt. Since a 8.5-kW system is needed to cover the energy consumption of a typical home in Boonville, the average price of going solar will be about $15,984 before claiming the federal solar tax credit of 30%.
The true cost of your system can go above or below the average in Boonville based on a few factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Boonville can save about $21,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a customized quote.
Solar savings over time in Boonville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,112 |
| 3 years | $-10,370 |
| 5 years | $-6,628 |
| 7 years | $-2,885 |
| 9 years | $857 |
| 11 years | $4,600 |
| 13 years | $8,342 |
| 15 years | $12,084 |
| 17 years | $15,827 |
| 19 years | $19,569 |
| 21 years | $23,311 |
| 23 years | $27,054 |
| 25 years | $30,796 |
Top Solar Installers in Boonville
Although it's possible to install solar panels by yourself, it involves extra labor and expertise. That's why most homeowners choose a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. 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 Boonville
Factors that Affect Solar Panel Costs in Boonville
The cost of installing a solar system in Boonville can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,680 per kilowatt in Boonville. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Boonville, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Boonville homeowners choose to finance their solar panel systems to make paying for solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Boonville, and each can charge different 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 go with the company that provides the products, warranties and services you're looking for and also fits within 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 | $21,247 | 8.9 years |
| 8 kW | $2.73 | $15,308 | $28,630 | 8.7 years |
| 10 kW | $2.68 | $18,760 | $36,163 | 8.5 years |
| 12 kW | $2.63 | $22,062 | $43,845 | 8.4 years |
| 14 kW | $2.57 | $25,213 | $51,678 | 8.2 years |
| 16 kW | $2.52 | $28,215 | $59,661 | 8.0 years |
| 18 kW | $2.47 | $31,067 | $67,794 | 7.9 years |
| 20 kW | $2.41 | $33,768 | $76,077 | 7.7 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 can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Warranty: If you're concerned about the endurance of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies have various brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
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 Boonville, IN Solar Cost FAQs
How much does it cost to install solar panels in Boonville?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally 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 other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Boonville?
You can't get solar panels for free in Boonville. However, you may still be able to afford 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.
How much can I save on power bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Boonville, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Boonville?
On average, the lifespan of solar panels is 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.