Solar Panel Cost Guide in Decatur, IN (2024 Update)
- Decatur Solar Installation Cost: $25,606
- 25-Year Savings: $25,877
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Decatur
See how much it might cost to make the switch to solar in Decatur.
In Decatur, solar panels cost about 4 per watt on average.Because a 8.9-kW system is needed to cover the energy consumption of a typical home in Decatur, the average price of going solar will be about $25,606 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Decatur homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the significant initial cost, the average Decatur homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the benefits of solar.
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 Decatur
| Year | Return on Investment |
|---|---|
| 1 years | $-23,989 |
| 3 years | $-20,754 |
| 5 years | $-17,519 |
| 7 years | $-14,284 |
| 9 years | $-11,050 |
| 11 years | $-7,815 |
| 13 years | $-4,580 |
| 15 years | $-1,345 |
| 17 years | $1,890 |
| 19 years | $5,125 |
| 21 years | $8,360 |
| 23 years | $11,594 |
| 25 years | $14,829 |
Top Solar Installers in Decatur
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring an installer can make swapping over to solar power much easier. Plus, if you aren’t sure what brand of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you’d like to make the switch to solar but still aren’t sure which solar panel company to go with, here are our suggestions 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 Decatur
Factors that Affect Solar Panel Costs in Decatur
The cost of installing a solar system in Decatur can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $4,100. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Decatur average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When estimating 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 last key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Decatur, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.26 | $17,909 | $10,749 | 15.6 years |
| 8 kW | $4.18 | $23,419 | $14,791 | 15.3 years |
| 10 kW | $4.10 | $28,700 | $19,063 | 15.0 years |
| 12 kW | $4.02 | $33,751 | $23,564 | 14.7 years |
| 14 kW | $3.94 | $38,573 | $28,295 | 14.4 years |
| 16 kW | $3.85 | $43,165 | $33,256 | 14.1 years |
| 18 kW | $3.77 | $47,527 | $38,446 | 13.8 years |
| 20 kW | $3.69 | $51,660 | $43,865 | 13.5 years |
How to Save on Solar Panels
The solar installer you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Contract: Look through the contract terms closely to make sure you understand the overall cost, completion timeline rebates and warranties.
- Solar Panel Brands: The kind of solar panel you need plays a part in which installer you should choose, since different companies have access to different panels.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project timeline.
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 Decatur, IN Solar Cost FAQs
What is the average cost of installing solar panels in Decatur?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Decatur?
Leasing solar panels can be an attractive choice, because it usually 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 maximize your savings.
Does Decatur have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Decatur?
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 how much energy they produce will have decreased significantly after that point. You can replace them once you've had 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.