Solar Panel Cost Guide in Leo-Cedarville, IN (2024 Update)
- Leo-Cedarville Solar Installation Cost: $25,765
- 25-Year Savings: $22,360
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Leo-Cedarville
We break down average solar pricing in Leo-Cedarville.
While the national average of solar panels is $2.66 per watt, solar panels in Leo-Cedarville generally cost about 4.The average Leo-Cedarville homeowner needs a 9.0-kilowatt system, which would cost about $25,765 with the federal tax credit, or $36,844 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Leo-Cedarville homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $17,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Leo-Cedarville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Leo-Cedarville
| Year | Return on Investment |
|---|---|
| 1 years | $-24,147 |
| 3 years | $-20,912 |
| 5 years | $-17,677 |
| 7 years | $-14,443 |
| 9 years | $-11,208 |
| 11 years | $-7,973 |
| 13 years | $-4,738 |
| 15 years | $-1,503 |
| 17 years | $1,732 |
| 19 years | $4,967 |
| 21 years | $8,201 |
| 23 years | $11,436 |
| 25 years | $14,671 |
Top Solar Installers in Leo-Cedarville
When making the switch to solar, many homeowners decide to go with a solar installation company since overseeing your solar installation yourself can be a challenging project. Another upside of working with a solar installer is that they can help you maximize your investment by bringing down your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Leo-Cedarville:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Leo-Cedarville
Factors that Affect Solar Panel Costs in Leo-Cedarville
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Leo-Cedarville: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,100.The brand of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can influence the cost. Leo-Cedarville’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to 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 | $4.26 | $17,909 | $8,292 | 17.1 years |
| 8 kW | $4.18 | $23,419 | $11,515 | 16.8 years |
| 10 kW | $4.10 | $28,700 | $14,968 | 16.4 years |
| 12 kW | $4.02 | $33,751 | $18,650 | 16.1 years |
| 14 kW | $3.94 | $38,573 | $22,562 | 15.8 years |
| 16 kW | $3.85 | $43,165 | $26,703 | 15.4 years |
| 18 kW | $3.77 | $47,527 | $31,074 | 15.1 years |
| 20 kW | $3.69 | $51,660 | $35,675 | 14.8 years |
How to Save on Solar Panels
There are numerous companies to choose from in Leo-Cedarville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Leo-Cedarville, IN Solar Cost FAQs
What is the average cost of installing solar panels in Leo-Cedarville?
The average cost of solar panels in Leo-Cedarville is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Leo-Cedarville?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.