Solar Panel Cost Guide in Greensburg, IN (2023 Update)
- Greensburg Solar Installation Cost: $16,382
- 25-Year Savings: $27,035
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Greensburg
Find out what the average cost of a solar system is in Greensburg.
The average cost of a solar system in Greensburg is 2.68 per watt. The average Greensburg homeowner needs a 8.7-kilowatt system, which would cost about $16,377 with the federal tax credit, or $23,419 before the 30% tax credit is applied.
These figures are only estimates, and how much solar costs for you will vary based on your energy needs and what company you choose to go with. With average savings of about $19,000 on utility bills over 20 years, many homeowners in Greensburg find going solar can pay off big.
To receive a free estimate from a highly rated solar installer in Greensburg, you can click the button below.
Solar savings over time in Greensburg
| Year | Return on Investment |
|---|---|
| 1 years | $-16,237 |
| 3 years | $-15,948 |
| 5 years | $-15,658 |
| 7 years | $-15,369 |
| 9 years | $-15,080 |
| 11 years | $-14,790 |
| 13 years | $-14,501 |
| 15 years | $-14,211 |
| 17 years | $-13,922 |
| 19 years | $-13,632 |
| 21 years | $-13,343 |
| 23 years | $-13,053 |
| 25 years | $-12,764 |
Top Solar Installers in Greensburg
Although you can install solar panels by yourself, it involves extra labor and handiness. For that reason, the majority of homeowners choose to hire a solar panel installer. Plus, if you're not certain what kind of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're on the hunt for a solar installer in Greensburg, the EcoWatch team has 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 Greensburg
Factors that Affect Solar Panel Costs in Greensburg
There are many factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of solar panels in Greensburg, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,680 for each additional kilowatt you need. There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Greensburg to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. However, the interest on solar loans also increases your overall costs, so it's vital to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that provides the products, warranties and services you want and also is 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 | $2.79 | $11,706 | $18,125 | 9.8 years |
| 8 kW | $2.73 | $15,308 | $24,467 | 9.6 years |
| 10 kW | $2.68 | $18,760 | $30,959 | 9.4 years |
| 12 kW | $2.63 | $22,062 | $37,601 | 9.2 years |
| 14 kW | $2.57 | $25,213 | $44,393 | 9.1 years |
| 16 kW | $2.52 | $28,215 | $51,336 | 8.9 years |
| 18 kW | $2.47 | $31,067 | $58,428 | 8.7 years |
| 20 kW | $2.41 | $33,768 | $65,670 | 8.5 years |
How to Save on Solar Panels
The solar panel company you opt for will impact 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 several important things you should keep in mind, such as:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: The brand of solar panel you'd like to install plays a role in which installer you should go with, since different companies have different panels.
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 Greensburg, IN Solar Cost FAQs
What is the average cost of installing solar panels in Greensburg?
This is a tough question to answer precisely, 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Greensburg?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Greensburg?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 keep using 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.