Solar Panel Cost Guide in Georgetown, IN (Jan 2023)

  • Georgetown Solar Installation Cost: $16,227
  • 25-Year Savings: $22,465
  • Payback Period: 10.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Georgetown

See how much it might cost to go solar in Georgetown.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Georgetown, the average cost of solar panels is $3 per watt. The average Georgetown homeowner needs a 8.7-kilowatt system, which would cost about $16,227, or $12,008 after the federal solar tax credit of 30% is applied.

Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more. But, after you've paid the initial cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $17,000 over 20 years on energy bills.

To receive a free quote from a highly rated solar installer in Georgetown, you can click the button below.

Solar savings over time in Georgetown

Year Return on Investment
1 years $-14,680
3 years $-11,584
5 years $-8,489
7 years $-5,393
9 years $-2,298
11 years $797
13 years $3,893
15 years $6,988
17 years $10,084
19 years $13,179
21 years $16,275
23 years $19,370
25 years $22,465

Top Solar Installers in Georgetown

Putting up solar panels by yourself can be a challenging undertaking, which is why getting a solar installation company is a good option for many homeowners. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.

Working with a licensed solar company can make going solar easier. 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 Georgetown

Factors that Affect Solar Panel Costs in Georgetown

While the average cost of a solar system in Georgetown is $16,227, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,680 per kilowatt in Georgetown. 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 choose 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, more efficient panels could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Georgetown average.

Solar Financing Terms

Most solar companies in Georgetown provide solar loans, which reduce the initial cost of installing solar. Although solar loans make switching to solar energy more accessible for Georgetown homeowners, they can also add to 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 factor to consider when trying to estimate the cost of solar for your home or business in Georgetown is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that provide a range of services for different budgets. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you want and also is within your budget.

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 $15,124 10.9 years
8 kW $2.73 $15,308 $20,465 10.7 years
10 kW $2.68 $18,760 $25,957 10.5 years
12 kW $2.63 $22,062 $31,599 10.3 years
14 kW $2.57 $25,213 $37,390 10.1 years
16 kW $2.52 $28,215 $43,332 9.9 years
18 kW $2.47 $31,067 $49,424 9.6 years
20 kW $2.41 $33,768 $55,666 9.4 years

How to Save on Solar Panels

Since the brand 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 tips to keep in mind to help with your decision:

  • Warranty: If you're concerned about the endurance of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
  • Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.

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 Georgetown, IN Solar Cost FAQs

How much does it cost to install solar panels in Georgetown?

The average cost of solar panels in Georgetown is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in Georgetown?

Solar panels aren't free in Georgetown, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Do solar panels increase your property value?

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 Georgetown is currently $199,800, which means you could be looking at a value of about $8,192 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Georgetown is a rewarding investment.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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 get between 20 and 35 panels to cover 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.

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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