Solar Panel Cost Guide in Boonville, IN (2024 Update)
- Boonville Solar Installation Cost: $24,445
- 25-Year Savings: $30,801
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Boonville
We go over average solar pricing in Boonville.
Although the national average of solar panels is $2.66 per watt, solar panels in Boonville typically cost about 4.To cover the typical energy usage of the average home in Boonville, most homeowners require a 8.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $24,445, or $34,956 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. 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 company you go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $21,000 over 20 years on electricity bills.
To get a free quote from a highly rated solar installer in Boonville, you can click the button below.
Solar savings over time in Boonville
| Year | Return on Investment |
|---|---|
| 1 years | $-22,663 |
| 3 years | $-19,099 |
| 5 years | $-15,535 |
| 7 years | $-11,971 |
| 9 years | $-8,407 |
| 11 years | $-4,844 |
| 13 years | $-1,280 |
| 15 years | $2,284 |
| 17 years | $5,848 |
| 19 years | $9,412 |
| 21 years | $12,975 |
| 23 years | $16,539 |
| 25 years | $20,103 |
Top Solar Installers in Boonville
When switching to solar energy, many homeowners opt to hire a solar installation company since DIY solar panel installation can be a challenging project. Solar warranties and repairs are often included in the cost of installation when you hire a solar contractor as well, which can save you more money over time.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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 Boonville
Factors that Affect Solar Panel Costs in Boonville
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Boonville: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,100. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 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 going solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Boonville, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Boonville are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $4.26 | $17,909 | $15,045 | 13.6 years |
| 8 kW | $4.18 | $23,419 | $20,519 | 13.3 years |
| 10 kW | $4.10 | $28,700 | $26,223 | 13.1 years |
| 12 kW | $4.02 | $33,751 | $32,156 | 12.8 years |
| 14 kW | $3.94 | $38,573 | $38,319 | 12.5 years |
| 16 kW | $3.85 | $43,165 | $44,711 | 12.3 years |
| 18 kW | $3.77 | $47,527 | $51,334 | 12.0 years |
| 20 kW | $3.69 | $51,660 | $58,185 | 11.8 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: The brand of solar panel you need plays a role in which company you should choose, since different companies have access to different panels.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Best National Provider
SunPower
- 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
- 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 Boonville, IN Solar Cost FAQs
How much does it cost to install solar panels in Boonville?
The average cost of solar panels in Boonville is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
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 places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,098.45 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.