Solar Panel Cost Guide in Frankfort, IN (Mar 2023)
- Frankfort Solar Installation Cost: $16,640
- 25-Year Savings: $23,901
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Frankfort
We break down average solar pricing in Frankfort.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Frankfort, the average cost of a solar system is 2.68 per watt. The average Frankfort homeowner needs a 8.9-kilowatt system, which would cost about $16,640 with the federal tax credit, or $23,795 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more. For most homeowners, the upfront cost of solar is worth paying. On average Frankfort homeowners see about $17,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Frankfort
| Year | Return on Investment |
|---|---|
| 1 years | $-15,018 |
| 3 years | $-11,775 |
| 5 years | $-8,532 |
| 7 years | $-5,289 |
| 9 years | $-2,045 |
| 11 years | $1,198 |
| 13 years | $4,441 |
| 15 years | $7,684 |
| 17 years | $10,928 |
| 19 years | $14,171 |
| 21 years | $17,414 |
| 23 years | $20,658 |
| 25 years | $23,901 |
Top Solar Installers in Frankfort
When going solar, many homeowners choose to use a solar installer since handling can be a time-consuming project. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be right for your family.
Working with a professional solar company can help you make the most of your investment in solar. 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 Frankfort
Factors that Affect Solar Panel Costs in Frankfort
Even though the average cost of a solar system in Frankfort is $16,640, your final cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,680. The kind 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. In addition, extra products, like solar batteries, can bump up your total well above the Frankfort average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Frankfort, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your total costs, so it's vital to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, 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 | $15,717 | 10.7 years |
| 8 kW | $2.73 | $15,308 | $21,256 | 10.5 years |
| 10 kW | $2.68 | $18,760 | $26,945 | 10.3 years |
| 12 kW | $2.63 | $22,062 | $32,784 | 10.1 years |
| 14 kW | $2.57 | $25,213 | $38,774 | 9.9 years |
| 16 kW | $2.52 | $28,215 | $44,913 | 9.6 years |
| 18 kW | $2.47 | $31,067 | $51,203 | 9.4 years |
| 20 kW | $2.41 | $33,768 | $57,642 | 9.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making 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 project timeline.
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 Frankfort, IN Solar Cost FAQs
What is the average cost of installing solar panels in Frankfort?
This is a tough 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Frankfort have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.