Solar Panel Cost Guide in Mitchell, IN (Nov 2022)

  • Mitchell Solar Installation Cost: $16,265
  • 25-Year Savings: $25,386
  • Payback Period: 9.8 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Mitchell

We go over average solar pricing in Mitchell.

While the national average of solar panels is $2.66 per watt, solar panels in Mitchell typically cost about $3. Since a 8.7-kW system is needed to cover the energy consumption of a typical home in Mitchell, the average price of going solar will be about $16,265 before claiming the federal solar tax credit of 30%.

Keep in mind that the figures above are only estimates based on the average Mitchell homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a rewarding investment. The average homeowner in Mitchell can save about $18,000 on their energy bills over 20 years.

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 Mitchell

Year Return on Investment
1 years $-14,599
3 years $-11,267
5 years $-7,935
7 years $-4,603
9 years $-1,271
11 years $2,061
13 years $5,393
15 years $8,726
17 years $12,058
19 years $15,390
21 years $18,722
23 years $22,054
25 years $25,386

Top Solar Installers in Mitchell

DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make converting to solar power much easier. The expertise that solar companies offer can be useful as well, especially if you don't quite know what type of solar equipment you need.

Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Mitchell

Factors that Affect Solar Panel Costs in Mitchell

Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Mitchell: 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

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Mitchell. There are several different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Mitchell homeowners decide to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only 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 finding a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Mitchell is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Mitchell know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.

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 $17,134 10.1 years
8 kW $2.73 $15,308 $23,145 10.0 years
10 kW $2.68 $18,760 $29,307 9.8 years
12 kW $2.63 $22,062 $35,619 9.6 years
14 kW $2.57 $25,213 $42,080 9.4 years
16 kW $2.52 $28,215 $48,692 9.2 years
18 kW $2.47 $31,067 $55,454 9.0 years
20 kW $2.41 $33,768 $62,366 8.8 years

How to Save on Solar Panels

The solar panel company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:

  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
  • Contract: Before you sign a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
  • Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Mitchell, IN Solar Cost FAQs

What is the average cost of installing solar panels in Mitchell?

This is a tough question to answer exactly, because the cost depends on many 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 other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Mitchell?

Leasing solar panels can be an option if you can't 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 bang for your buck from going solar.

Do solar panels increase the value of your home?

Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How often do you have to replace solar panels?

Although 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 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.

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