Solar Panel Cost Guide in Highland, IN (2023 Update)
- Highland Solar Installation Cost: $16,772
- 25-Year Savings: $31,050
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Highland
Find out what the average cost of solar panel installation is in Highland.
The national average cost of solar panels is $2.66 per watt, but in Highland it's 2.68 per watt. Using this figure, a typical 8.9-kW system would cost about $16,771 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Highland homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $20,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar installer in Highland for a quote for your home.
Solar savings over time in Highland
| Year | Return on Investment |
|---|---|
| 1 years | $-15,053 |
| 3 years | $-11,613 |
| 5 years | $-8,174 |
| 7 years | $-4,734 |
| 9 years | $-1,295 |
| 11 years | $2,145 |
| 13 years | $5,584 |
| 15 years | $9,023 |
| 17 years | $12,463 |
| 19 years | $15,902 |
| 21 years | $19,342 |
| 23 years | $22,781 |
| 25 years | $26,221 |
Top Solar Installers in Highland
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make your swap to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you'd like to go solar but still aren't sure which solar panel company to go with, here are our suggestions for providers in Highland:
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 Highland
Factors that Affect Solar Panel Costs in Highland
The cost of installing a solar system in Highland can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation 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 $2,680. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Highland average.
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 Highland homeowners decide to finance their solar panel systems to make going solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Highland, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $20,387 | 9.1 years |
| 8 kW | $2.73 | $15,308 | $27,483 | 8.9 years |
| 10 kW | $2.68 | $18,760 | $34,729 | 8.8 years |
| 12 kW | $2.63 | $22,062 | $42,125 | 8.6 years |
| 14 kW | $2.57 | $25,213 | $49,671 | 8.4 years |
| 16 kW | $2.52 | $28,215 | $57,367 | 8.2 years |
| 18 kW | $2.47 | $31,067 | $65,213 | 8.1 years |
| 20 kW | $2.41 | $33,768 | $73,210 | 7.9 years |
How to Save on Solar Panels
There are a lot of companies available in Highland, 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:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
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 Highland, IN Solar Cost FAQs
How much does it cost to install solar panels in Highland?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Highland?
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 savings from going solar.
Is it worth going solar in Highland?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Highland?
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 opt to replace them once you've had them for that long or you can continue to use 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.