Solar Panel Cost Guide in Dunlap, IN (Mar 2023)
- Dunlap Solar Installation Cost: $16,959
- 25-Year Savings: $26,233
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Dunlap
We break down average solar pricing in Dunlap.
The national average cost of solar panels is $2.66 per watt, but in Dunlap it's 2.68 per watt. The average Dunlap homeowner needs a 9.0-kilowatt system, which would cost about $16,959 with the federal tax credit, or $24,251 before the 30% tax credit is applied.
The true price you pay can go above or below the average in Dunlap depending on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront investment in solar is worth paying. On average Dunlap homeowners see about $18,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in Dunlap for a custom estimate.
Solar savings over time in Dunlap
| Year | Return on Investment |
|---|---|
| 1 years | $-15,231 |
| 3 years | $-11,776 |
| 5 years | $-8,321 |
| 7 years | $-4,865 |
| 9 years | $-1,410 |
| 11 years | $2,045 |
| 13 years | $5,501 |
| 15 years | $8,956 |
| 17 years | $12,411 |
| 19 years | $15,867 |
| 21 years | $19,322 |
| 23 years | $22,777 |
| 25 years | $26,233 |
Top Solar Installers in Dunlap
When making the switch to solar, many homeowners opt to go with a solar installation company since handling can be a difficult project. Also, if you'd like to maximize your investment in solar power, going with a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
If you're on the hunt for a solar installer in Dunlap, the EcoWatch team has compiled a list of our top suggestions here:
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 Dunlap
Factors that Affect Solar Panel Costs in Dunlap
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Dunlap: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, 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 $2,680. 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 come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Dunlap is the company you hire to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services at different costs. Additionally, some companies in Dunlap 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 end up saving you 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 | $16,972 | 10.2 years |
| 8 kW | $2.73 | $15,308 | $22,930 | 10.0 years |
| 10 kW | $2.68 | $18,760 | $29,037 | 9.8 years |
| 12 kW | $2.63 | $22,062 | $35,295 | 9.6 years |
| 14 kW | $2.57 | $25,213 | $41,703 | 9.4 years |
| 16 kW | $2.52 | $28,215 | $48,261 | 9.2 years |
| 18 kW | $2.47 | $31,067 | $54,969 | 9.0 years |
| 20 kW | $2.41 | $33,768 | $61,827 | 8.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: When looking through 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 component breaking or if the company goes out of business.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Dunlap, IN Solar Cost FAQs
What is the average cost of installing solar panels in Dunlap?
The average cost of solar panels in Dunlap is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Dunlap?
You can't get solar panels for free in Dunlap. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Dunlap, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Dunlap?
On average, the lifespan of solar panels is 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 level 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.