Solar Panel Cost Guide in Leo Cedarville, IN (2023 Update)
- Leo Cedarville Solar Installation Cost: $16,846
- 25-Year Savings: $22,355
- Payback Period: 10.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Leo Cedarville
Here's how much it might cost to go solar in Leo Cedarville.
While the national average of solar panels is $2.66 per watt, solar panels in Leo Cedarville generally cost about 2.68. The average solar panel system size in Leo Cedarville is around 9.0 kilowatts, meaning a cost of about $16,846 for a solar installation, or $24,090 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs will differ based on factors unique to your home and what company you go with. With average savings of about $17,000 on utility bills over 20 years, many homeowners in Leo Cedarville find going solar has a decent ROI.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Leo Cedarville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,278 |
| 3 years | $-12,142 |
| 5 years | $-9,006 |
| 7 years | $-5,870 |
| 9 years | $-2,734 |
| 11 years | $402 |
| 13 years | $3,538 |
| 15 years | $6,674 |
| 17 years | $9,811 |
| 19 years | $12,947 |
| 21 years | $16,083 |
| 23 years | $19,219 |
| 25 years | $22,355 |
Top Solar Installers in Leo Cedarville
Although you can install solar panels on your own, it requires extra labor and handiness. For that reason, most people choose a solar panel installer. Another benefit of using a solar company is that they can help you maximize your investment by cutting back on future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
While the average cost of a solar system in Leo Cedarville is $16,846, your actual cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,680 per kilowatt in Leo Cedarville. The model of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than 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
Most solar companies in Leo Cedarville have solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also adds to your all-in costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Leo Cedarville, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $14,494 | 11.2 years |
| 8 kW | $2.73 | $15,308 | $19,626 | 11.0 years |
| 10 kW | $2.68 | $18,760 | $24,908 | 10.7 years |
| 12 kW | $2.63 | $22,062 | $30,339 | 10.5 years |
| 14 kW | $2.57 | $25,213 | $35,921 | 10.3 years |
| 16 kW | $2.52 | $28,215 | $41,653 | 10.1 years |
| 18 kW | $2.47 | $31,067 | $47,535 | 9.9 years |
| 20 kW | $2.41 | $33,768 | $53,567 | 9.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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?
This is a difficult question to answer precisely, 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Leo Cedarville?
You can't get solar panels for free in Leo Cedarville. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Leo Cedarville, 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 often do you have to replace solar panels?
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 how much energy they produce will have decreased significantly after that point. You can replace them after having 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.