Solar Panel Cost Guide in Greendale, IN (2023 Update)
- Greendale Solar Installation Cost: $16,284
- 25-Year Savings: $22,528
- Payback Period: 10.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Greendale
Find out what the average cost of solar panel installation is in Greendale.
The average cost of solar panels in Greendale is 2.68 per watt. The average solar panel system size in Greendale is around 8.7 kilowatts, meaning a cost of about $16,284 for a solar installation, or $23,286 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Greendale can save around $17,000 on their electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Greendale
| Year | Return on Investment |
|---|---|
| 1 years | $-14,731 |
| 3 years | $-11,626 |
| 5 years | $-8,521 |
| 7 years | $-5,416 |
| 9 years | $-2,312 |
| 11 years | $793 |
| 13 years | $3,898 |
| 15 years | $7,003 |
| 17 years | $10,108 |
| 19 years | $13,213 |
| 21 years | $16,318 |
| 23 years | $19,423 |
| 25 years | $22,528 |
Top Solar Installers in Greendale
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make your swap to solar power much easier. Plus, if you'd like to maximize your investment in solar power, going with a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives.
Working with a vetted solar installer can help your solar project go smoothly. 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 Greendale
Factors that Affect Solar Panel Costs in Greendale
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Greendale: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they cut back your upfront costs and let you pay for your system over five to seven years on average. Although solar loans make going solar more accessible for Greendale homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Greendale, and each can charge different amounts for labor and equipment. Additionally, some companies in Greendale know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $2.79 | $11,706 | $15,116 | 10.9 years |
| 8 kW | $2.73 | $15,308 | $20,455 | 10.7 years |
| 10 kW | $2.68 | $18,760 | $25,944 | 10.5 years |
| 12 kW | $2.63 | $22,062 | $31,583 | 10.3 years |
| 14 kW | $2.57 | $25,213 | $37,373 | 10.1 years |
| 16 kW | $2.52 | $28,215 | $43,312 | 9.9 years |
| 18 kW | $2.47 | $31,067 | $49,401 | 9.7 years |
| 20 kW | $2.41 | $33,768 | $55,641 | 9.4 years |
How to Save on Solar Panels
There are many companies to choose from in Greendale, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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 Greendale, IN Solar Cost FAQs
What is the average cost of installing solar panels in Greendale?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Greendale?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of 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 bang for your buck from going solar.
Do solar panels increase your property value?
Solar panels can increase the value of your home remarkably 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 long do solar panels last in Greendale?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.