Solar Panel Cost Guide in Georgetown, IN (2023 Update)
- Georgetown Solar Installation Cost: $16,233
- 25-Year Savings: $22,460
- Payback Period: 10.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
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 2.68 per watt. The average Georgetown homeowner needs a 8.7-kilowatt system, which would cost about $16,227 with the federal tax credit, or $23,205 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what installation company you go with. Despite the high upfront cost, the average Georgetown homeowner can save about $17,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a reputable solar installer in Georgetown for a custom quote.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-14,907 |
| 3 years | $-12,256 |
| 5 years | $-9,605 |
| 7 years | $-6,953 |
| 9 years | $-4,302 |
| 11 years | $-1,651 |
| 13 years | $1,000 |
| 15 years | $3,652 |
| 17 years | $6,303 |
| 19 years | $8,954 |
| 21 years | $11,605 |
| 23 years | $14,256 |
| 25 years | $16,908 |
Top Solar Installers in Georgetown
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for your home.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
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 Georgetown
Factors that Affect Solar Panel Costs in Georgetown
Cost is often one of the most important factors for homeowners who are considering investing 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 go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar panels and equipment you choose is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Georgetown homeowners opt to finance their solar panel systems to make paying for solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence your pricing. Georgetown's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to 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 | $15,124 | 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 type of solar panels and the installation company 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: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- 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.
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 Georgetown, IN Solar Cost FAQs
How much does it cost to install solar panels in Georgetown?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally 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 other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase your home value?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Georgetown?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.