Solar Panel Cost Guide in Evansville, IN (2025 Update)
- Evansville Solar Installation Cost: $24,325
- 25-Year Savings: $34,351
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Evansville
See how much it might cost to install solar panels in Evansville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Evansville, the typical cost of a solar system is 4 per watt.Using this figure, a typical 8.5-kW system would cost about $24,325 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 making the switch to solar can vary depending on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Evansville see about $23,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar installer in your area for a custom estimate.
Solar savings over time in Evansville
| Year | Return on Investment |
|---|---|
| 1 years | $-22,543 |
| 3 years | $-18,979 |
| 5 years | $-15,415 |
| 7 years | $-11,852 |
| 9 years | $-8,288 |
| 11 years | $-4,724 |
| 13 years | $-1,160 |
| 15 years | $2,404 |
| 17 years | $5,967 |
| 19 years | $9,531 |
| 21 years | $13,095 |
| 23 years | $16,659 |
| 25 years | $20,223 |
Top Solar Installers in Evansville
When making the switch to solar, many homeowners decide to use a solar company since putting up a solar system yourself can be a difficult project. Another good thing about choosing a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you’d like to make the switch to solar but still aren’t certain which solar panel installer to go with, here are our suggestions for providers near you:
See all of the solar companies in Evansville
Factors that Affect Solar Panel Costs in Evansville
There are several factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar system you need for your household, 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 $4,100. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Evansville, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of 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 Evansville provide solar loans, which reduce the initial cost of installing a solar system.Though solar loans make switching to solar energy more accessible for Evansville homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating in Evansville, and each can charge varying amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $17,665 | 12.6 years |
| 8 kW | $4.18 | $23,419 | $24,012 | 12.3 years |
| 10 kW | $4.10 | $28,700 | $30,589 | 12.1 years |
| 12 kW | $4.02 | $33,751 | $37,396 | 11.9 years |
| 14 kW | $3.94 | $38,573 | $44,432 | 11.6 years |
| 16 kW | $3.85 | $43,165 | $51,698 | 11.4 years |
| 18 kW | $3.77 | $47,527 | $59,193 | 11.1 years |
| 20 kW | $3.69 | $51,660 | $66,918 | 10.9 years |
How to Save on Solar Panels
The solar installer you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
EcoWatch's Evansville, IN Solar Cost FAQs
What is the average cost of installing solar panels in Evansville?
The average cost of solar panels in Evansville is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,185.78 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a 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 install between 20 and 35 panels to account for 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.