Solar Panel Cost Guide in Lawrenceburg, IN (2024 Update)
- Lawrenceburg Solar Installation Cost: $24,917
- 25-Year Savings: $22,524
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Lawrenceburg
See how much it might cost to go solar in Lawrenceburg.
Although the national average of solar panels is $2.66 per watt, solar panels in Lawrenceburg typically cost about 4.The average solar panel system size in Lawrenceburg is around 8.7 kilowatts, meaning a cost of about $24,917 for a solar installation, or $35,631 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will look different based on the amount of energy your home requires and what company you choose to go with.But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on power bills.
Click the button below to get connected to a highly rated solar installer in your area for a personalized estimate.
Solar savings over time in Lawrenceburg
| Year | Return on Investment |
|---|---|
| 1 years | $-23,591 |
| 3 years | $-20,940 |
| 5 years | $-18,289 |
| 7 years | $-15,637 |
| 9 years | $-12,986 |
| 11 years | $-10,335 |
| 13 years | $-7,684 |
| 15 years | $-5,032 |
| 17 years | $-2,381 |
| 19 years | $270 |
| 21 years | $2,921 |
| 23 years | $5,572 |
| 25 years | $8,224 |
Top Solar Installers in Lawrenceburg
Although it's possible to install solar panels yourself, it requires extra time and handiness. Because of that, most people choose a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance in the long run.
If you're on the hunt for a solar company in Lawrenceburg, we've 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 Lawrenceburg
Factors that Affect Solar Panel Costs in Lawrenceburg
For many Lawrenceburg homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Lawrenceburg, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $4,100. The 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. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Lawrenceburg average.
Solar Financing Terms
Most solar companies in Lawrenceburg provide solar loans, which reduce the initial cost of installing a solar system.It’s wise to add 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 solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Lawrenceburg, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $8,914 | 16.7 years |
| 8 kW | $4.18 | $23,419 | $12,344 | 16.4 years |
| 10 kW | $4.10 | $28,700 | $16,004 | 16.0 years |
| 12 kW | $4.02 | $33,751 | $19,894 | 15.7 years |
| 14 kW | $3.94 | $38,573 | $24,013 | 15.4 years |
| 16 kW | $3.85 | $43,165 | $28,362 | 15.1 years |
| 18 kW | $3.77 | $47,527 | $32,941 | 14.8 years |
| 20 kW | $3.69 | $51,660 | $37,749 | 14.4 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 brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- 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 type 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 ask for their list of offerings before deciding.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
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 Lawrenceburg, IN Solar Cost FAQs
How much does it cost to install solar panels in Lawrenceburg?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Lawrenceburg?
You can’t get solar panels for free in Lawrenceburg. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $894.09 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.