Solar Panel Cost Guide in Georgetown, IN (2025 Update)
- Georgetown Solar Installation Cost: $24,833
- 25-Year Savings: $22,460
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Georgetown
We go over average solar pricing in Georgetown.
The national average cost of solar panels is $2.66 per watt, but in Georgetown it’s 4 per watt.To cover the typical energy needs of the average home in Georgetown, most homeowners require a 8.7-kilowatt system. Using the figure above, a solar installation costs around $24,833, or $35,511 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.For many homeowners, the upfront cost of solar power is worth paying. On average Georgetown homeowners see about $17,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-23,508 |
| 3 years | $-20,857 |
| 5 years | $-18,205 |
| 7 years | $-15,554 |
| 9 years | $-12,903 |
| 11 years | $-10,252 |
| 13 years | $-7,600 |
| 15 years | $-4,949 |
| 17 years | $-2,298 |
| 19 years | $353 |
| 21 years | $3,004 |
| 23 years | $5,656 |
| 25 years | $8,307 |
Top Solar Installers in Georgetown
Many homeowners opt for a solar installer since trying to install solar panels yourself can be a lot of work. Companies can also offer access to a large variety of the best solar panels and help you choose which one will be best for your home.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
See all of the solar companies in Georgetown
Factors that Affect Solar Panel Costs in Georgetown
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Georgetown: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Georgetown, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $4,100 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost 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. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, like solar batteries, can bring your total well above the Georgetown average.
Solar Financing Terms
Most solar companies in Georgetown offer solar loans, which reduce your upfront costs of installing solar.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Georgetown is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for example, you’ll have no shortage of solar installers that provide a range of services at different costs.Additionally, some companies in Georgetown know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $8,921 | 16.7 years |
| 8 kW | $4.18 | $23,419 | $12,354 | 16.4 years |
| 10 kW | $4.10 | $28,700 | $16,017 | 16.0 years |
| 12 kW | $4.02 | $33,751 | $19,909 | 15.7 years |
| 14 kW | $3.94 | $38,573 | $24,031 | 15.4 years |
| 16 kW | $3.85 | $43,165 | $28,382 | 15.1 years |
| 18 kW | $3.77 | $47,527 | $32,963 | 14.8 years |
| 20 kW | $3.69 | $51,660 | $37,774 | 14.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
EcoWatch's Georgetown, IN Solar Cost FAQs
What is the average cost of installing solar panels in Georgetown?
This is a tough 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 higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Georgetown?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in Georgetown?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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.