Solar Panel Cost Guide in Edinburgh, IN (Mar 2023)
- Edinburgh Solar Installation Cost: $16,396
- 25-Year Savings: $25,826
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Edinburgh
Let's have a look at the average cost of solar in Edinburgh.
The national average cost of solar panels is $2.66 per watt, but in Edinburgh it's 2.68 per watt. To cover the typical energy usage of the average home in Edinburgh, most homeowners require a 8.7-kilowatt system. Using the figure above, a solar installation costs around $16,396, or $23,446 before the federal solar tax credit of 30% is applied.
The true price you pay can be above or below the average in Edinburgh based on a few factors, such as the type of solar panels you choose and the solar installer you hire. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $18,000 over 20 years on electricity bills.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Edinburgh
| Year | Return on Investment |
|---|---|
| 1 years | $-14,707 |
| 3 years | $-11,330 |
| 5 years | $-7,952 |
| 7 years | $-4,574 |
| 9 years | $-1,196 |
| 11 years | $2,181 |
| 13 years | $5,559 |
| 15 years | $8,937 |
| 17 years | $12,315 |
| 19 years | $15,692 |
| 21 years | $19,070 |
| 23 years | $22,448 |
| 25 years | $25,826 |
Top Solar Installers in Edinburgh
Although it's possible to install solar panels on your own, it requires extra effort and handiness. That's why almost all homeowners choose to hire a solar panel installer. The expertise that solar installers provide can be helpful as well, particularly if you aren't sure what kind of solar equipment you need.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Edinburgh
Factors that Affect Solar Panel Costs in Edinburgh
The cost of installing a solar system in Edinburgh 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 company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Edinburgh, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,680 for each additional kilowatt you need. The brand of solar panels and equipment you choose is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about 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 utility bills over time, but they can also be a big investment. That's why many Edinburgh homeowners choose to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increases your total costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Edinburgh is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for instance, you'll have many options for solar installers that provide a range of services at different costs. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $17,294 | 10.1 years |
| 8 kW | $2.73 | $15,308 | $23,359 | 9.9 years |
| 10 kW | $2.68 | $18,760 | $29,574 | 9.7 years |
| 12 kW | $2.63 | $22,062 | $35,939 | 9.5 years |
| 14 kW | $2.57 | $25,213 | $42,454 | 9.3 years |
| 16 kW | $2.52 | $28,215 | $49,119 | 9.1 years |
| 18 kW | $2.47 | $31,067 | $55,934 | 8.9 years |
| 20 kW | $2.41 | $33,768 | $62,900 | 8.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose significantly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Companies that have been in business for many years likely have a solid 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.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
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 Edinburgh, IN Solar Cost FAQs
How much does it cost to install solar panels in Edinburgh?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. It will be more expensive 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 want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Edinburgh?
A solar panel system isn't free in Edinburgh, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Edinburgh?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.