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
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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:
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.
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.
EcoWatch's Mount Vernon, 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.