Solar Panel Cost Guide in Monticello, IN (Jan 2023)
- Monticello Solar Installation Cost: $16,659
- 25-Year Savings: $29,913
- Payback Period: 8.9 Years
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Top Solar Installers in Monticello
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make your switch to solar power much easier. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
If you're looking for a solar installer in Monticello, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in Monticello
Factors that Affect Solar Panel Costs in Monticello
While the average cost of a solar system in Monticello is $16,659, your final cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,680. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Monticello offer solar loans, which reduce the initial cost of installing solar. Although solar loans make adopting solar energy more accessible for Monticello homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Monticello, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that provides the products, warranties and services you want and also fits within your budget.
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||$19,764||9.3 years|
|8 kW||$2.73||$15,308||$26,652||9.1 years|
|10 kW||$2.68||$18,760||$33,691||8.9 years|
|12 kW||$2.63||$22,062||$40,879||8.8 years|
|14 kW||$2.57||$25,213||$48,217||8.6 years|
|16 kW||$2.52||$28,215||$55,706||8.4 years|
|18 kW||$2.47||$31,067||$63,345||8.2 years|
|20 kW||$2.41||$33,768||$71,133||8.0 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 select the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: The brand of solar panel you want to get plays a part in which installer you should go with, since different companies provide different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
EcoWatch's Monticello, IN Solar Cost FAQs
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.