Solar Panel Cost Guide in Mount Vernon, IN (Jan 2023)

  • Mount Vernon Solar Installation Cost: $15,833
  • 25-Year Savings: $34,418
  • Payback Period: 7.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Mount Vernon

Find out what the average cost of solar panel installation is in Mount Vernon.

The average cost of solar panels in Mount Vernon is $3 per watt. The average solar panel system size in Mount Vernon is around 8.4 kilowatts, meaning a cost of about $15,833 for a solar installation, or $11,716 after the 30% federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Mount Vernon homeowners. 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 installing a solar system is a solid investment. The average homeowner in Mount Vernon can save around $23,000 on their electricity bills over 20 years.

You can click the button below to get connected with a top solar company in Mount Vernon for a quote for your home.

Solar savings over time in Mount Vernon

Year Return on Investment
1 years $-13,823
3 years $-9,803
5 years $-5,783
7 years $-1,763
9 years $2,257
11 years $6,277
13 years $10,297
15 years $14,317
17 years $18,338
19 years $22,358
21 years $26,378
23 years $30,398
25 years $34,418

Top Solar Installers in Mount Vernon

Installing solar panels yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.

There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:

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 Mount Vernon

Factors that Affect Solar Panel Costs in Mount Vernon

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Mount Vernon: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.

Solar Equipment

One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Mount Vernon. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Mount Vernon average.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Mount Vernon, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies in Mount Vernon, and each can charge varying amounts for labor and equipment. Additionally, some companies in Mount Vernon are more knowledgeable about local solar incentives and can help you learn about 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 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 $24,031 8.2 years
8 kW $2.73 $15,308 $32,341 8.0 years
10 kW $2.68 $18,760 $40,802 7.9 years
12 kW $2.63 $22,062 $49,412 7.7 years
14 kW $2.57 $25,213 $58,173 7.6 years
16 kW $2.52 $28,215 $67,084 7.4 years
18 kW $2.47 $31,067 $76,144 7.2 years
20 kW $2.41 $33,768 $85,355 7.1 years

How to Save on Solar Panels

The solar company you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:

  • Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
  • Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.

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 Mount Vernon, IN Solar Cost FAQs

How much does it cost to install solar panels in Mount Vernon?

This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Mount Vernon?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 savings from going solar.

Do solar panels increase your property value?

Solar panels can increase the value of your home remarkably 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 long do solar panels last in Mount Vernon?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.

Follow us