Solar Panel Cost Guide in Greensburg, IN (2024 Update)
- Greensburg Solar Installation Cost: $25,062
- 25-Year Savings: $27,035
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Greensburg
Let’s have a look at the average cost of solar in Greensburg.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Greensburg, the typical cost of a solar system is 4 per watt.Using this figure, a typical 8.7-kW system would cost about $25,062 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy usage and what company you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Greensburg
| Year | Return on Investment |
|---|---|
| 1 years | $-23,736 |
| 3 years | $-21,085 |
| 5 years | $-18,434 |
| 7 years | $-15,783 |
| 9 years | $-13,132 |
| 11 years | $-10,480 |
| 13 years | $-7,829 |
| 15 years | $-5,178 |
| 17 years | $-2,527 |
| 19 years | $125 |
| 21 years | $2,776 |
| 23 years | $5,427 |
| 25 years | $8,078 |
Top Solar Installers in Greensburg
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make switching to solar power much easier. Companies can also offer access to quality options of the best solar panels and help you decide which one will be best for you.
If you’d like to make the switch to solar but still aren’t sure which solar system installer to go with, here are our suggestions for providers near you:
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
Though the average cost of a solar system in Greensburg is $25,062, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of solar panels in Greensburg, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $4,100 for each additional kilowatt you need.The model of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to think 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Greensburg homeowners opt to finance their solar panel systems to make paying for solar more affordable.While solar loans make adopting solar energy more accessible for Greensburg homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Greensburg know more about local solar incentives and can help you learn about 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 | $4.26 | $17,909 | $11,923 | 15.0 years |
| 8 kW | $4.18 | $23,419 | $16,356 | 14.7 years |
| 10 kW | $4.10 | $28,700 | $21,019 | 14.4 years |
| 12 kW | $4.02 | $33,751 | $25,912 | 14.1 years |
| 14 kW | $3.94 | $38,573 | $31,034 | 13.9 years |
| 16 kW | $3.85 | $43,165 | $36,386 | 13.6 years |
| 18 kW | $3.77 | $47,527 | $41,967 | 13.3 years |
| 20 kW | $3.69 | $51,660 | $47,778 | 13.0 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the types 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, including:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The model of solar panel you need to install plays a part in which company you should choose, since different companies offer 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
How much does it cost to install solar panels in Greensburg?
The average cost of solar panels in Greensburg is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Greensburg?
A solar panel system isn’t free in Greensburg, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase your property value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t go 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 solar panels."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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.