Solar Panel Cost Guide in Frankfort, IN (2024 Update)
- Frankfort Solar Installation Cost: $25,457
- 25-Year Savings: $23,901
- Payback Period: 15.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Frankfort
Find out what the average cost of installing solar panels is in Frankfort.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Frankfort, the average cost of solar panels is 4 per watt.The average solar panel system size in Frankfort is around 8.9 kilowatts, meaning a cost of about $25,457 for a solar installation, or $36,404 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary based on a few 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 panels is worth paying. On average homeowners in Frankfort see about $17,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a personalized estimate.
Solar savings over time in Frankfort
| Year | Return on Investment |
|---|---|
| 1 years | $-24,131 |
| 3 years | $-21,480 |
| 5 years | $-18,829 |
| 7 years | $-16,178 |
| 9 years | $-13,527 |
| 11 years | $-10,875 |
| 13 years | $-8,224 |
| 15 years | $-5,573 |
| 17 years | $-2,922 |
| 19 years | $-270 |
| 21 years | $2,381 |
| 23 years | $5,032 |
| 25 years | $7,683 |
Top Solar Installers in Frankfort
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar company can make swapping over to solar power much easier. A solar installer can also help save you money over time by providing warranties, repairs and system component replacements.
If you're on the hunt for a solar installer in Frankfort, the EcoWatch team has put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Frankfort
Factors that Affect Solar Panel Costs in Frankfort
For many Frankfort homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Frankfort, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $4,100. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Frankfort have solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also adds to your total costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you select will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $9,514 | 16.3 years |
| 8 kW | $4.18 | $23,419 | $13,145 | 16.0 years |
| 10 kW | $4.10 | $28,700 | $17,005 | 15.7 years |
| 12 kW | $4.02 | $33,751 | $21,095 | 15.4 years |
| 14 kW | $3.94 | $38,573 | $25,414 | 15.1 years |
| 16 kW | $3.85 | $43,165 | $29,963 | 14.8 years |
| 18 kW | $3.77 | $47,527 | $34,742 | 14.4 years |
| 20 kW | $3.69 | $51,660 | $39,750 | 14.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Frankfort, IN Solar Cost FAQs
What is the average cost of installing solar panels in Frankfort?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Frankfort?
You can’t get solar panels for free in Frankfort. However, you may still be able to get 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.
Can solar panels significantly reduce my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Frankfort, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Frankfort?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.