Solar Panel Cost Guide in Edinburgh, IN (2024 Update)
- Edinburgh Solar Installation Cost: $25,071
- 25-Year Savings: $25,834
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Edinburgh
See how much it might cost to go solar in Edinburgh.
In Edinburgh, solar panels cost about 4 per watt on average.Using this figure, a typical 8.7-kW system would cost about $25,071 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.Many homeowners find installing solar panels is a solid investment. The average homeowner in Edinburgh can save around $18,000 on their power bills over 20 years.
To get a free quote from a highly rated solar installer in Edinburgh, you can click the button below.
Solar savings over time in Edinburgh
Year | Return on Investment |
---|---|
1 years | $-23,745 |
3 years | $-21,094 |
5 years | $-18,443 |
7 years | $-15,791 |
9 years | $-13,140 |
11 years | $-10,489 |
13 years | $-7,838 |
15 years | $-5,187 |
17 years | $-2,535 |
19 years | $116 |
21 years | $2,767 |
23 years | $5,418 |
25 years | $8,069 |
Top Solar Installers in Edinburgh
Many homeowners opt for a solar panel company since figuring out how to install solar panels on your own can be a labor-intensive endeavor. A solar company can also help save you money over time by offering warranties, repairs and component replacements.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Edinburgh
Factors that Affect Solar Panel Costs in Edinburgh
For many Edinburgh homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Edinburgh, with typical prices between $20,000 to $40,000. There are various 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 going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $4,100 per kilowatt in Edinburgh.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Edinburgh, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Edinburgh offer solar loans, which reduce your upfront costs of installing a solar system.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $11,092 | 15.4 years |
8 kW | $4.18 | $23,419 | $15,248 | 15.1 years |
10 kW | $4.10 | $28,700 | $19,634 | 14.8 years |
12 kW | $4.02 | $33,751 | $24,249 | 14.5 years |
14 kW | $3.94 | $38,573 | $29,095 | 14.3 years |
16 kW | $3.85 | $43,165 | $34,169 | 14.0 years |
18 kW | $3.77 | $47,527 | $39,474 | 13.7 years |
20 kW | $3.69 | $51,660 | $45,008 | 13.4 years |
How to Save on Solar Panels
There are many companies to choose from in Edinburgh, 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:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations 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 ask for their list of offerings before making your decision.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Edinburgh, IN Solar Cost FAQs
What is the average cost of installing solar panels in Edinburgh?
The average cost of solar panels in Edinburgh is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Edinburgh?
Even 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 how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.