Solar Panel Cost Guide in Greendale, IN (2024 Update)
- Greendale Solar Installation Cost: $24,917
- 25-Year Savings: $22,524
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Greendale
Find out what the average cost of a solar system is in Greendale.
The national average cost of solar panels is $2.66 per watt, but in Greendale it’s 4 per watt.The average solar panel system size in Greendale is around 8.7 kilowatts, meaning a cost of about $24,917 for a solar installation, or $35,631 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Greendale based on several factors, such as the brand of solar panels you choose and the solar installer you hire.With average savings of about $17,000 on energy bills over 20 years, many homeowners in Greendale find investing in solar can be quite rewarding.
Click the button below to get connected to a reputable solar company in your area for a custom quote.
Solar savings over time in Greendale
| Year | Return on Investment |
|---|---|
| 1 years | $-23,591 |
| 3 years | $-20,940 |
| 5 years | $-18,289 |
| 7 years | $-15,637 |
| 9 years | $-12,986 |
| 11 years | $-10,335 |
| 13 years | $-7,684 |
| 15 years | $-5,032 |
| 17 years | $-2,381 |
| 19 years | $270 |
| 21 years | $2,921 |
| 23 years | $5,572 |
| 25 years | $8,224 |
Top Solar Installers in Greendale
Although you can install solar panels by yourself, it involves extra energy and knowledge. Because of that, the majority of homeowners choose a solar panel installer. Some solar companies, particularly local ones, can help you better understand incentives in Greendale, thereby optimizing your ROI.
If you're on the hunt for a solar installer in Greendale, we've compiled a list of our top suggestions here:
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 Greendale
Factors that Affect Solar Panel Costs in Greendale
For many Greendale homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Greendale, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,100.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Greendale, and each can charge different amounts for labor and equipment.Some companies 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 cost more. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also fits 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 | $4.26 | $17,909 | $8,914 | 16.7 years |
| 8 kW | $4.18 | $23,419 | $12,344 | 16.4 years |
| 10 kW | $4.10 | $28,700 | $16,004 | 16.0 years |
| 12 kW | $4.02 | $33,751 | $19,894 | 15.7 years |
| 14 kW | $3.94 | $38,573 | $24,013 | 15.4 years |
| 16 kW | $3.85 | $43,165 | $28,362 | 15.1 years |
| 18 kW | $3.77 | $47,527 | $32,941 | 14.8 years |
| 20 kW | $3.69 | $51,660 | $37,749 | 14.4 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
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 Greendale, IN Solar Cost FAQs
What is the average cost of installing solar panels in Greendale?
This is a tough question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from 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 areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t opt for 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 many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.