Solar Panel Cost Guide in Hartford City, IN (2024 Update)
- Hartford City Solar Installation Cost: $25,449
- 25-Year Savings: $25,829
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Hartford City
Find out what the average cost of installing solar panels is in Hartford City.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hartford City, the typical cost of a solar system is 4 per watt.Using this figure, a typical 8.9-kW system would cost about $25,449 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Hartford City depending on a few factors, such as the model of solar panels you choose and the solar company you hire.For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Hartford City see about $18,000 in savings on energy 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 Hartford City
| Year | Return on Investment |
|---|---|
| 1 years | $-23,832 |
| 3 years | $-20,597 |
| 5 years | $-17,362 |
| 7 years | $-14,127 |
| 9 years | $-10,892 |
| 11 years | $-7,658 |
| 13 years | $-4,423 |
| 15 years | $-1,188 |
| 17 years | $2,047 |
| 19 years | $5,282 |
| 21 years | $8,517 |
| 23 years | $11,752 |
| 25 years | $14,986 |
Top Solar Installers in Hartford City
Many homeowners choose to use a solar panel installer since installing solar panels by yourself can be time-consuming. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Hartford City:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Hartford City
Factors that Affect Solar Panel Costs in Hartford City
While the average cost of a solar system in Hartford City is $25,449, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need 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 solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Hartford City average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Hartford City homeowners decide to finance their solar panel systems to make going solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Hartford City, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Hartford City have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $10,824 | 15.6 years |
| 8 kW | $4.18 | $23,419 | $14,891 | 15.3 years |
| 10 kW | $4.10 | $28,700 | $19,188 | 15.0 years |
| 12 kW | $4.02 | $33,751 | $23,714 | 14.7 years |
| 14 kW | $3.94 | $38,573 | $28,470 | 14.4 years |
| 16 kW | $3.85 | $43,165 | $33,456 | 14.1 years |
| 18 kW | $3.77 | $47,527 | $38,671 | 13.8 years |
| 20 kW | $3.69 | $51,660 | $44,116 | 13.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Warranty: If you’re worried about the longevity of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Hartford City, IN Solar Cost FAQs
What is the average cost of installing solar panels in Hartford City?
This is a tough question to answer precisely, because the cost depends on a few different 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Hartford City?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 financial benefits from going solar.
Can solar panels completely eradicate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Hartford City, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Hartford City?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.