Solar Panel Cost Guide in Connersville, IN (2023 Update)
- Connersville Solar Installation Cost: $16,485
- 25-Year Savings: $25,141
- Payback Period: 9.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Connersville
See how much it might cost to install solar panels in Connersville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Connersville, the average cost of solar panels is 2.68 per watt. The average Connersville homeowner needs a 8.8-kilowatt system, which would cost about $16,490 with the federal tax credit, or $23,581 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more. Even with the high upfront cost, the average Connersville homeowner can save around $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Connersville
| Year | Return on Investment |
|---|---|
| 1 years | $-16,347 |
| 3 years | $-16,069 |
| 5 years | $-15,792 |
| 7 years | $-15,514 |
| 9 years | $-15,237 |
| 11 years | $-14,959 |
| 13 years | $-14,682 |
| 15 years | $-14,404 |
| 17 years | $-14,126 |
| 19 years | $-13,849 |
| 21 years | $-13,571 |
| 23 years | $-13,294 |
| 25 years | $-13,016 |
Top Solar Installers in Connersville
Installing solar panels by yourself can be a time-consuming task, which is why using a solar installer is a good option for many homeowners. Some solar companies, especially local ones, can help you make the most of incentives in Connersville, therefore optimizing your ROI.
If you'd like to switch to solar energy but still aren't certain which solar panel installer to go with, here are our recommendations for providers near you:
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 Connersville
Factors that Affect Solar Panel Costs in Connersville
For many Connersville homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Connersville, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,680. The brand and type of equipment you get 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 come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect 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
Most solar companies in Connersville provide solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also adds to your overall costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Connersville, and each can charge different amounts for labor and equipment. Additionally, some companies in Connersville are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $16,716 | 10.3 years |
| 8 kW | $2.73 | $15,308 | $22,588 | 10.1 years |
| 10 kW | $2.68 | $18,760 | $28,610 | 9.9 years |
| 12 kW | $2.63 | $22,062 | $34,782 | 9.7 years |
| 14 kW | $2.57 | $25,213 | $41,104 | 9.5 years |
| 16 kW | $2.52 | $28,215 | $47,577 | 9.3 years |
| 18 kW | $2.47 | $31,067 | $54,199 | 9.1 years |
| 20 kW | $2.41 | $33,768 | $60,972 | 8.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Connersville, IN Solar Cost FAQs
How much does it cost to install solar panels in Connersville?
The average cost of solar panels in Connersville 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 certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Connersville is currently $82,280, so you can look forward to a value of about $3,373 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Connersville is a fruitful investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses 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 house 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.