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

  • Bright Solar Installation Cost: $16,284
  • 25-Year Savings: $23,773
  • Payback Period: 10.2 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Bright

Find out what the average cost of a solar system is in Bright.

The average cost of solar panels in Bright is $3 per watt. To cover the typical energy needs of the average home in Bright, most homeowners require a 8.7-kilowatt system. Using the figure above, a solar installation costs around $16,284, or $12,050 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy consumption and what company you go with. For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $18,000 in savings on utility bills over 20 years.

You can click the button below to get connected with a top solar installer in Bright that can help you get a more accurate cost estimate for your home.

Solar savings over time in Bright

Year Return on Investment
1 years $-14,681
3 years $-11,477
5 years $-8,272
7 years $-5,068
9 years $-1,863
11 years $1,341
13 years $4,546
15 years $7,751
17 years $10,955
19 years $14,160
21 years $17,364
23 years $20,569
25 years $23,773

Top Solar Installers in Bright

Although it's possible to install solar panels yourself, it involves extra labor and know-how. That's one of the reasons most people choose to hire a solar panel installer. Plus, if you're not certain what brand of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.

You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:

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 Bright

Factors that Affect Solar Panel Costs in Bright

There are a number of factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,680 per kilowatt in Bright. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Bright average.

Solar Financing Terms

Many homeowners find the average cost of solar in Bright to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. While solar loans make going solar more accessible for Bright homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar installation company you select will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.

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 $15,977 10.6 years
8 kW $2.73 $15,308 $21,603 10.4 years
10 kW $2.68 $18,760 $27,379 10.2 years
12 kW $2.63 $22,062 $33,305 10.0 years
14 kW $2.57 $25,213 $39,381 9.8 years
16 kW $2.52 $28,215 $45,607 9.6 years
18 kW $2.47 $31,067 $51,984 9.4 years
20 kW $2.41 $33,768 $58,510 9.1 years

How to Save on Solar Panels

Since the brand of solar panels and the company you choose considerably impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things 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, including when the site survey will be completed and what the project timeline is.
  • Contract: Before you sign a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.

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 Bright, IN Solar Cost FAQs

What is the average cost of installing solar panels in Bright?

The average cost of solar panels in Bright 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in Bright?

Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

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

Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 get 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.

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