Solar Panel Cost Guide in Mooresville, IN (2024 Update)
- Mooresville Solar Installation Cost: $25,078
- 25-Year Savings: $27,276
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Mooresville
Let’s have a look at the average cost of solar panels in Mooresville.
The average cost of solar panels in Mooresville is 4 per watt.Using this figure, a typical 8.7-kW system would cost about $25,078 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Mooresville based on several factors, such as the brand of solar panels you choose and the solar company you hire.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Mooresville can save about $19,000 on their power bills over 20 years.
To receive a free quote from a top solar installer in Mooresville, you can click the button below.
Solar savings over time in Mooresville
| Year | Return on Investment |
|---|---|
| 1 years | $-23,743 |
| 3 years | $-21,075 |
| 5 years | $-18,406 |
| 7 years | $-15,737 |
| 9 years | $-13,068 |
| 11 years | $-10,399 |
| 13 years | $-7,730 |
| 15 years | $-5,061 |
| 17 years | $-2,392 |
| 19 years | $277 |
| 21 years | $2,946 |
| 23 years | $5,615 |
| 25 years | $8,284 |
Top Solar Installers in Mooresville
Although you can install solar panels on your own, it takes extra time and expertise. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. Solar warranties and repairs are typically included in the cost of installation when you opt for a solar contractor as well, which can save you more money over time.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
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 Mooresville
Factors that Affect Solar Panel Costs in Mooresville
While the average cost of a solar system in Mooresville is $25,078, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need 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 solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Mooresville average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Mooresville homeowners opt to finance their solar panel systems to make going solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Mooresville, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Mooresville are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $4.26 | $17,909 | $12,076 | 14.9 years |
| 8 kW | $4.18 | $23,419 | $16,561 | 14.6 years |
| 10 kW | $4.10 | $28,700 | $21,275 | 14.4 years |
| 12 kW | $4.02 | $33,751 | $26,219 | 14.1 years |
| 14 kW | $3.94 | $38,573 | $31,392 | 13.8 years |
| 16 kW | $3.85 | $43,165 | $36,795 | 13.5 years |
| 18 kW | $3.77 | $47,527 | $42,428 | 13.2 years |
| 20 kW | $3.69 | $51,660 | $48,290 | 12.9 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The type of solar panel you need to get plays a part in which company you should opt for, since different companies have different panels.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Mooresville, IN Solar Cost FAQs
How much does it cost to install solar panels in Mooresville?
The average cost of solar panels in Mooresville 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.
Should I lease or buy solar panels in Mooresville?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Mooresville, that will require at least a 10-kW system. Not all homes can accommodate 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?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.