Solar Panel Cost Guide in Mount Vernon, IN (2023 Update)
- Mount Vernon Solar Installation Cost: $15,828
- 25-Year Savings: $34,424
- Payback Period: 7.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mount Vernon
Find out what the average cost of solar panel installation is in Mount Vernon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mount Vernon, the average cost of solar panels is 2.68 per watt. The average Mount Vernon homeowner needs a 8.4-kilowatt system, which would cost about $15,833 with the federal tax credit, or $22,641 before the 30% tax credit is applied.
These figures are just estimates, and the cost of going solar for you will vary based on factors unique to your home and what company you choose to go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Mount Vernon can save about $23,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Mount Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-14,046 |
| 3 years | $-10,482 |
| 5 years | $-6,918 |
| 7 years | $-3,354 |
| 9 years | $210 |
| 11 years | $3,773 |
| 13 years | $7,337 |
| 15 years | $10,901 |
| 17 years | $14,465 |
| 19 years | $18,029 |
| 21 years | $21,593 |
| 23 years | $25,156 |
| 25 years | $28,720 |
Top Solar Installers in Mount Vernon
Trying to put up solar panels yourself can be a challenging undertaking, which is why using a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a vetted solar company can help you make the most of your investment in solar. 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 Mount Vernon
Factors that Affect Solar Panel Costs in Mount Vernon
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Mount Vernon: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
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 that have greater efficiency or power generation use 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 $2,680. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Mount Vernon, 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 power bills over many years, but they can also be a big investment. That's why many Mount Vernon homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your overall costs, so it's important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies operating in Mount Vernon, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 types 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:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 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 precisely, 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Mount Vernon?
A solar panel system isn't free in Mount Vernon, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Mount Vernon?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
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 are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had 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.