Solar Panel Cost Guide in McCordsville, IN (2024 Update)
- McCordsville Solar Installation Cost: $25,441
- 25-Year Savings: $23,249
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in McCordsville
We break down average solar pricing in McCordsville.
Although the national average of solar panels is $2.66 per watt, solar panels in McCordsville typically cost about 4.The average McCordsville homeowner needs a 8.9-kilowatt system, which would cost about $25,441 with the federal tax credit, or $36,381 before the 0 tax credit is applied.
The true cost of your system can be higher or lower than the average in McCordsville depending on several factors, such as the kind of solar panels you choose and the solar installer you hire.Despite the significant upfront cost, the average McCordsville homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the perks of solar.
To receive a free estimate from a top solar installation company in McCordsville, you can click the button below.
Solar savings over time in McCordsville
| Year | Return on Investment |
|---|---|
| 1 years | $-24,156 |
| 3 years | $-21,586 |
| 5 years | $-19,017 |
| 7 years | $-16,447 |
| 9 years | $-13,877 |
| 11 years | $-11,308 |
| 13 years | $-8,738 |
| 15 years | $-6,169 |
| 17 years | $-3,599 |
| 19 years | $-1,029 |
| 21 years | $1,540 |
| 23 years | $4,110 |
| 25 years | $6,680 |
Top Solar Installers in McCordsville
Although you can install solar panels by yourself, it takes extra energy and handiness. That's why most people choose a solar panel installer. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
If you’d like to go solar but still aren’t sure which solar installer to go with, here are our recommendations for providers in McCordsville:
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 McCordsville
Factors that Affect Solar Panel Costs in McCordsville
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in McCordsville: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like McCordsville, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many McCordsville homeowners opt to finance their solar panel systems to offset upfront costs.Although solar loans make going solar more accessible for McCordsville homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $9,083 | 16.6 years |
| 8 kW | $4.18 | $23,419 | $12,570 | 16.3 years |
| 10 kW | $4.10 | $28,700 | $16,287 | 15.9 years |
| 12 kW | $4.02 | $33,751 | $20,233 | 15.6 years |
| 14 kW | $3.94 | $38,573 | $24,409 | 15.3 years |
| 16 kW | $3.85 | $43,165 | $28,814 | 15.0 years |
| 18 kW | $3.77 | $47,527 | $33,449 | 14.7 years |
| 20 kW | $3.69 | $51,660 | $38,313 | 14.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: If you care about the endurance of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 McCordsville, IN Solar Cost FAQs
What is the average cost of installing solar panels in McCordsville?
The average cost of solar panels in McCordsville is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about 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 places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in McCordsville is currently $351,826, so you could be looking at a value of about $14,425 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in McCordsville is a fruitful investment.
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 decide 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.