Solar Panel Cost Guide in Dunlap, IN (2024 Update)
- Dunlap Solar Installation Cost: $25,934
- 25-Year Savings: $26,240
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Dunlap
Let’s have a look at the average cost of solar in Dunlap.
Although the national average of solar panels is $2.66 per watt, solar panels in Dunlap typically cost around 4.To cover the typical energy usage of the average home in Dunlap, most homeowners require a 9.0-kilowatt system. Using the figure above, a solar installation costs around $25,934, or $37,086 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Dunlap homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Dunlap can save about $18,000 on their power bills over 20 years.
To receive a free quote from a top solar installation company in Dunlap, you can click the button below.
Solar savings over time in Dunlap
| Year | Return on Investment |
|---|---|
| 1 years | $-24,317 |
| 3 years | $-21,082 |
| 5 years | $-17,847 |
| 7 years | $-14,612 |
| 9 years | $-11,377 |
| 11 years | $-8,143 |
| 13 years | $-4,908 |
| 15 years | $-1,673 |
| 17 years | $1,562 |
| 19 years | $4,797 |
| 21 years | $8,032 |
| 23 years | $11,267 |
| 25 years | $14,501 |
Top Solar Installers in Dunlap
Many homeowners choose to use a solar panel installer since trying to put up solar panels by yourself can be challenging. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar company too, which can save you more money after your upfront investment.
If you’d like to make the switch to solar but still aren’t certain which solar company to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Dunlap
Factors that Affect Solar Panel Costs in Dunlap
For many Dunlap homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Dunlap, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Dunlap, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can impact how much it costs. Dunlap’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Dunlap know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $10,770 | 15.6 years |
| 8 kW | $4.18 | $23,419 | $14,819 | 15.3 years |
| 10 kW | $4.10 | $28,700 | $19,097 | 15.0 years |
| 12 kW | $4.02 | $33,751 | $23,606 | 14.7 years |
| 14 kW | $3.94 | $38,573 | $28,344 | 14.4 years |
| 16 kW | $3.85 | $43,165 | $33,311 | 14.1 years |
| 18 kW | $3.77 | $47,527 | $38,508 | 13.8 years |
| 20 kW | $3.69 | $51,660 | $43,935 | 13.5 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- 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 significant role in the company you choose.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Dunlap, IN Solar Cost FAQs
What is the average cost of installing solar panels in Dunlap?
This is a difficult question to answer precisely, 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Dunlap?
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 electricity bills.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.