Solar Panel Cost Guide in Fortville, IN (Mar 2023)
- Fortville Solar Installation Cost: $16,621
- 25-Year Savings: $22,928
- Payback Period: 10.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Fortville
Find out what the average cost of a solar system is in Fortville.
The national average cost of solar panels is $2.66 per watt, but in Fortville it's 2.68 per watt. Since a 8.9-kW system is needed to cover the energy costs of a typical home in Fortville, the average price of going solar will be about $16,621 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more. But, after you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $17,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company in Fortville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Fortville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,039 |
| 3 years | $-11,875 |
| 5 years | $-8,712 |
| 7 years | $-5,548 |
| 9 years | $-2,384 |
| 11 years | $780 |
| 13 years | $3,944 |
| 15 years | $7,108 |
| 17 years | $10,272 |
| 19 years | $13,436 |
| 21 years | $16,600 |
| 23 years | $19,764 |
| 25 years | $22,928 |
Top Solar Installers in Fortville
Many homeowners choose to hire a solar installer since trying to put up solar panels on your own can be a labor-intensive endeavor. The expertise that solar installers offer can be useful as well, particularly if you don't quite know what type of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Fortville:
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 Fortville
Factors that Affect Solar Panel Costs in Fortville
Though the average cost of a solar system in Fortville is $16,621, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,680 per kilowatt in Fortville. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Fortville average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Fortville, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Fortville is the company you hire to install your solar system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services for different budgets. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger 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 | $15,063 | 10.9 years |
| 8 kW | $2.73 | $15,308 | $20,384 | 10.7 years |
| 10 kW | $2.68 | $18,760 | $25,855 | 10.5 years |
| 12 kW | $2.63 | $22,062 | $31,477 | 10.3 years |
| 14 kW | $2.57 | $25,213 | $37,248 | 10.1 years |
| 16 kW | $2.52 | $28,215 | $43,169 | 9.9 years |
| 18 kW | $2.47 | $31,067 | $49,241 | 9.7 years |
| 20 kW | $2.41 | $33,768 | $55,462 | 9.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Fortville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When reading through your solar installer'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.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
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 Fortville, IN Solar Cost FAQs
How much does it cost to install solar panels in Fortville?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
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 Fortville is currently $241,700, so you can expect a value of about $9,910 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Fortville is a fruitful investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.