Solar Panel Cost Guide in Danville, IN (2023 Update)
- Danville Solar Installation Cost: $16,528
- 25-Year Savings: $23,016
- Payback Period: 10.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Danville
Let's take a look at the average cost of solar panels in Danville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Danville, the average cost of a solar system is 2.68 per watt. Using this figure, a typical 8.8-kW system would cost about $16,528 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs will most likely vary based on your energy needs and what company you choose to go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on power bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Danville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,946 |
| 3 years | $-11,782 |
| 5 years | $-8,619 |
| 7 years | $-5,455 |
| 9 years | $-2,292 |
| 11 years | $872 |
| 13 years | $4,035 |
| 15 years | $7,199 |
| 17 years | $10,362 |
| 19 years | $13,526 |
| 21 years | $16,689 |
| 23 years | $19,853 |
| 25 years | $23,016 |
Top Solar Installers in Danville
Many homeowners opt for a solar installation company since trying to put up solar panels on your own can be challenging. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar company to go with, here are our recommendations for providers nearby:
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 Danville
Factors that Affect Solar Panel Costs in Danville
There are a number of criteria that can influence 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 panels.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,680. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that are more efficient tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Danville homeowners decide to finance their solar panel systems to make paying for solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Danville know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $15,232 | 10.9 years |
| 8 kW | $2.73 | $15,308 | $20,609 | 10.7 years |
| 10 kW | $2.68 | $18,760 | $26,137 | 10.4 years |
| 12 kW | $2.63 | $22,062 | $31,815 | 10.2 years |
| 14 kW | $2.57 | $25,213 | $37,642 | 10.0 years |
| 16 kW | $2.52 | $28,215 | $43,620 | 9.8 years |
| 18 kW | $2.47 | $31,067 | $49,748 | 9.6 years |
| 20 kW | $2.41 | $33,768 | $56,026 | 9.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer 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:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Reputation: Your solar installer should have a good 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 positive reviews from previous customers.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
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 Danville, IN Solar Cost FAQs
What is the average cost of installing solar panels in Danville?
This is a hard 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 cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Danville?
A solar panel system isn't free in Danville, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Danville?
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 offer you credit toward your future utility bills.
How many solar panels should I get to power 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 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.