Solar Panel Cost Guide in Connersville, IN (Oct 2022)

  • Connersville Solar Installation Cost: $16,490
  • 25-Year Savings: $25,137
  • Payback Period: 9.9 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Connersville

Find out what the average cost of solar panel installation is in Connersville.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Connersville, the typical cost of solar panels is $3 per watt. The average Connersville homeowner needs a 8.8-kilowatt system, which would cost about $16,490, or $12,203 after the federal solar tax credit of 30% is applied.

Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of equipment you choose, your solar contractor and more. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Connersville can save about $18,000 on their power bills over 20 years.

To see your potential savings and connect with a local solar company, click the button below.

Solar savings over time in Connersville

Year Return on Investment
1 years $-14,825
3 years $-11,495
5 years $-8,165
7 years $-4,835
9 years $-1,504
11 years $1,826
13 years $5,156
15 years $8,486
17 years $11,816
19 years $15,146
21 years $18,476
23 years $21,807
25 years $25,137

Top Solar Installers in Connersville

Installing solar panels by yourself can be a difficult task, which is why hiring a solar installation company is a good option for many homeowners. Another advantage of working with a solar installer is that they can help you maximize your ROI by cutting back on future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.

Working with a vetted solar company can make going solar easier. Here are our recommendations:

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

The Green Panel

★★★★★
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 Connersville

Factors that Affect Solar Panel Costs in Connersville

Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Connersville: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment Size

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 electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Connersville. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Connersville, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar companies in Connersville offer solar loans, which reduce your upfront costs of installing solar panels. When figuring out 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 solar panel installation company you choose will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that offers 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 $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

Solar Incentives in Connersville

Name Renewable Energy Property Tax Exemption
Website Visit here
More Info Click here

Name RushShelby Energy - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Noble REMC - Residential Energy Efficiency Rebate Incentives
Website Visit here
More Info Click here

Name NIPSCO - Feed-In Tariff
Website Visit here
More Info Click here

Name Duke Energy - Residential and Builder Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the type of solar panels and the installation company you choose has an impact on 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:

  • Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Solar Panel Brands: Different companies offer different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
  • Contract: Read the contract terms closely to make sure you understand the total cost, project completion timeline incentives and warranties.

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

The Green Panel

★★★★★
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 Connersville, IN Solar Cost FAQs

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

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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Is cost the most important consideration when buying solar panels?

Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

How will solar panels impact my property value?

Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

How long do solar panels last in Connersville?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.

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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