Solar Panel Cost Guide in Corydon, IN (Mar 2023)
- Corydon Solar Installation Cost: $16,115
- 25-Year Savings: $22,578
- Payback Period: 10.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Corydon
Here's how much it might cost to install solar panels in Corydon.
The average cost of a solar system in Corydon is 2.68 per watt. The average Corydon homeowner needs a 8.6-kilowatt system, which would cost about $16,115 with the federal tax credit, or $23,044 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy consumption and what installation company you go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Corydon can save around $17,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar panel company in Corydon for a custom quote.
Solar savings over time in Corydon
| Year | Return on Investment |
|---|---|
| 1 years | $-14,567 |
| 3 years | $-11,472 |
| 5 years | $-8,376 |
| 7 years | $-5,281 |
| 9 years | $-2,185 |
| 11 years | $910 |
| 13 years | $4,005 |
| 15 years | $7,101 |
| 17 years | $10,196 |
| 19 years | $13,292 |
| 21 years | $16,387 |
| 23 years | $19,482 |
| 25 years | $22,578 |
Top Solar Installers in Corydon
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make your swap to solar power much easier. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for you.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Corydon
Factors that Affect Solar Panel Costs in Corydon
There are many factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Corydon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by around $2,680 for each additional kilowatt you need. 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 have a higher price tag 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 more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Corydon offer solar loans, which reduce your upfront costs of installing solar. Even though solar loans make going solar more accessible for Corydon homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Corydon is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for example, there's no shortage of solar installers that offer a range of services at different price points. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $15,308 | 10.8 years |
| 8 kW | $2.73 | $15,308 | $20,711 | 10.6 years |
| 10 kW | $2.68 | $18,760 | $26,264 | 10.4 years |
| 12 kW | $2.63 | $22,062 | $31,968 | 10.2 years |
| 14 kW | $2.57 | $25,213 | $37,821 | 10.0 years |
| 16 kW | $2.52 | $28,215 | $43,824 | 9.8 years |
| 18 kW | $2.47 | $31,067 | $49,977 | 9.6 years |
| 20 kW | $2.41 | $33,768 | $56,281 | 9.4 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 models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past 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 Corydon, IN Solar Cost FAQs
What is the average cost of installing solar panels in Corydon?
This is a difficult question to answer precisely, because the cost depends on a few different 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 more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Corydon?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Corydon have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
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 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 get between 20 and 35 panels to cover 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.