Solar Panel Cost Guide in Greencastle, IN (Mar 2023)
- Greencastle Solar Installation Cost: $16,453
- 25-Year Savings: $25,282
- Payback Period: 9.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Greencastle
We go over average solar pricing in Greencastle.
Although the national average of solar panels is $2.66 per watt, solar panels in Greencastle generally cost about 2.68. To cover the typical energy needs of the average home in Greencastle, most homeowners require a 8.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,453, or $23,528 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $18,000 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar company in Greencastle for a quote for your home.
Solar savings over time in Greencastle
| Year | Return on Investment |
|---|---|
| 1 years | $-14,783 |
| 3 years | $-11,444 |
| 5 years | $-8,106 |
| 7 years | $-4,767 |
| 9 years | $-1,428 |
| 11 years | $1,911 |
| 13 years | $5,250 |
| 15 years | $8,588 |
| 17 years | $11,927 |
| 19 years | $15,266 |
| 21 years | $18,605 |
| 23 years | $21,943 |
| 25 years | $25,282 |
Top Solar Installers in Greencastle
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with an installer can make converting to solar power much easier. Another advantage of going with a solar company is that they can help you make the most of your investment by reducing your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
Working with a professional solar installer 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 Greencastle
Factors that Affect Solar Panel Costs in Greencastle
Though the average cost of a solar system in Greencastle is $16,453, your final cost may differ. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase 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 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 bring your total well above the Greencastle average.
Solar Financing Terms
Most solar installers in Greencastle have solar loans, which reduce your upfront costs of installing solar panels. Though solar loans make switching to solar energy more accessible for Greencastle homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Greencastle, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $16,832 | 10.3 years |
| 8 kW | $2.73 | $15,308 | $22,743 | 10.1 years |
| 10 kW | $2.68 | $18,760 | $28,804 | 9.9 years |
| 12 kW | $2.63 | $22,062 | $35,015 | 9.7 years |
| 14 kW | $2.57 | $25,213 | $41,376 | 9.5 years |
| 16 kW | $2.52 | $28,215 | $47,887 | 9.3 years |
| 18 kW | $2.47 | $31,067 | $54,548 | 9.1 years |
| 20 kW | $2.41 | $33,768 | $61,360 | 8.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which model 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 peruse their list of options before deciding.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
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 Greencastle, IN Solar Cost FAQs
How much does it cost to install solar panels in Greencastle?
The average cost of solar panels in Greencastle is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Greencastle?
You can't get solar panels for free in Greencastle. However, you may still be able to install 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.
Does Greencastle have a net metering program?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for 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 buy between 20 and 35 panels to account for 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.