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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Decatur, the average cost of a solar system is 4 per watt.To cover the typical energy usage of the average home in Decatur, most homeowners require a 8.9-kilowatt system. Using the figure above, a solar installation costs around $25,606, or $36,617 before the federal solar tax credit of 0 is applied.
The true price you pay can go above or below the average in Decatur depending on several factors, such as the type of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.
To calculate your potential savings and connect with a local solar installer, 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 choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make converting to solar power much easier. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
Best National Provider
SunPower
- 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
- 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
For many Decatur homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Decatur, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $4,100 per kilowatt in Decatur.The model of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Decatur homeowners decide to finance their solar panel systems to make paying for solar more affordable.While solar loans make switching to solar energy more accessible for Decatur homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Decatur is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services at different price points.Additionally, some companies in Decatur know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $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
There are numerous companies available in Decatur, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
Best National Provider
SunPower
- 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
- 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 hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Decatur?
Leasing solar panels can be an attractive choice, because 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.
Can you sell solar power back to the grid in Decatur?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using 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.