Solar Panel Cost Guide in Ellettsville, IN (Dec 2022)

  • Ellettsville Solar Installation Cost: $16,284
  • 25-Year Savings: $29,706
  • Payback Period: 8.8 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Ellettsville

Let's take a look at the average cost of solar in Ellettsville.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Ellettsville, the typical cost of solar panels is $3 per watt. To cover the typical energy needs of the average home in Ellettsville, most homeowners require a 8.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,284, or $12,050 after the federal solar tax credit of 30% is applied.

Keep in mind that the figures above are only estimates based on the average energy use of Ellettsville 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. Despite the high initial cost, the average Ellettsville homeowner can save about $20,000 on their energy bills over 20 years, which is one of the positives of solar.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Ellettsville

Year Return on Investment
1 years $-14,444
3 years $-10,765
5 years $-7,086
7 years $-3,406
9 years $273
11 years $3,952
13 years $7,631
15 years $11,310
17 years $14,990
19 years $18,669
21 years $22,348
23 years $26,027
25 years $29,706

Top Solar Installers in Ellettsville

When going solar, many homeowners choose to use a solar company since putting up solar panels yourself can be a challenging project. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.

Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Ellettsville

Factors that Affect Solar Panel Costs in Ellettsville

Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Ellettsville: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment

The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,680. The kind of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.

Solar Financing Terms

Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Ellettsville homeowners choose to finance their solar panel systems to offset upfront costs. While solar loans make switching to solar energy more accessible for Ellettsville homeowners, they can also increase 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 evaluate the cost of solar for your home or business in Ellettsville is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Ellettsville know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 $2.79 $11,706 $20,095 9.2 years
8 kW $2.73 $15,308 $27,094 9.0 years
10 kW $2.68 $18,760 $34,243 8.8 years
12 kW $2.63 $22,062 $41,542 8.7 years
14 kW $2.57 $25,213 $48,991 8.5 years
16 kW $2.52 $28,215 $56,590 8.3 years
18 kW $2.47 $31,067 $64,339 8.1 years
20 kW $2.41 $33,768 $72,238 8.0 years

How to Save on Solar Panels

The company that does your solar 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 tough decision, we have some tips to help you, such as:

  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
  • Contract: Review the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
  • Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Ellettsville, IN Solar Cost FAQs

What is the average cost of installing solar panels in Ellettsville?

The average cost of solar panels in Ellettsville 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.

Are solar panels free in Ellettsville?

You can't get solar panels for free in Ellettsville. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

Do solar panels increase how much your home is worth?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ellettsville is currently $153,665, so you can expect a value of about $6,300 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Ellettsville is a fruitful investment.

How long do solar panels last in Ellettsville?

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 their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use 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.

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