Solar Panel Cost Guide in Charlestown, IN (Mar 2023)
- Charlestown Solar Installation Cost: $16,209
- 25-Year Savings: $24,222
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Charlestown
We break down average solar pricing in Charlestown.
In Charlestown, solar panels cost about 2.68 per watt on average. The average Charlestown homeowner needs a 8.6-kilowatt system, which would cost about $16,209 with the federal tax credit, or $23,179 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you choose, your solar contractor and more. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $18,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Charlestown
| Year | Return on Investment |
|---|---|
| 1 years | $-14,591 |
| 3 years | $-11,357 |
| 5 years | $-8,122 |
| 7 years | $-4,888 |
| 9 years | $-1,654 |
| 11 years | $1,581 |
| 13 years | $4,815 |
| 15 years | $8,050 |
| 17 years | $11,284 |
| 19 years | $14,519 |
| 21 years | $17,753 |
| 23 years | $20,988 |
| 25 years | $24,222 |
Top Solar Installers in Charlestown
Many homeowners opt for a solar installer since figuring out how to install solar panels yourself can be a labor-intensive endeavor. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you're looking for a solar installer in Charlestown, the EcoWatch team has organized a list of our top suggestions here:
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 Charlestown
Factors that Affect Solar Panel Costs in Charlestown
The cost of installing a solar system in Charlestown can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, 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 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 pay about $2,680 per kilowatt in Charlestown. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Charlestown average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Charlestown, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your overall costs, so it's crucial to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Charlestown is the company you get to install your solar system. As with choosing a company to build a deck or pool, for example, you'll have many options for solar installers that provide a range of services for different budgets. Additionally, some companies in Charlestown are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $16,370 | 10.4 years |
| 8 kW | $2.73 | $15,308 | $22,127 | 10.2 years |
| 10 kW | $2.68 | $18,760 | $28,034 | 10.0 years |
| 12 kW | $2.63 | $22,062 | $34,091 | 9.8 years |
| 14 kW | $2.57 | $25,213 | $40,298 | 9.6 years |
| 16 kW | $2.52 | $28,215 | $46,656 | 9.4 years |
| 18 kW | $2.47 | $31,067 | $53,163 | 9.2 years |
| 20 kW | $2.41 | $33,768 | $59,820 | 9.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
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 Charlestown, IN Solar Cost FAQs
How much does it cost to install solar panels in Charlestown?
This is a difficult question to answer precisely, 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Solar panels can be a fruitful 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 energy bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.