Solar Panel Cost Guide in Muncie, IN (2024 Update)
- Muncie Solar Installation Cost: $25,413
- 25-Year Savings: $23,634
- Payback Period: 15.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Muncie
Find out how much it might cost to make the switch to solar in Muncie.
While the national average of solar panels is $2.66 per watt, solar panels in Muncie generally cost around 4.The average Muncie homeowner needs a 8.9-kilowatt system, which would cost about $25,413 with the federal tax credit, or $36,341 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Muncie homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $17,000 on electricity bills over 20 years, many homeowners in Muncie find going solar can pay off big.
Click the button below to get connected to a vetted solar panel company in your area for a customized estimate.
Solar savings over time in Muncie
| Year | Return on Investment |
|---|---|
| 1 years | $-23,795 |
| 3 years | $-20,560 |
| 5 years | $-17,325 |
| 7 years | $-14,090 |
| 9 years | $-10,856 |
| 11 years | $-7,621 |
| 13 years | $-4,386 |
| 15 years | $-1,151 |
| 17 years | $2,084 |
| 19 years | $5,319 |
| 21 years | $8,554 |
| 23 years | $11,788 |
| 25 years | $15,023 |
Top Solar Installers in Muncie
When switching to solar energy, many homeowners decide to go with a solar installation company since installing a solar system yourself can be a time-consuming project. The expertise that solar companies provide can be helpful as well, especially if you don’t quite know what brand of solar equipment would be right for your home.
If you're looking for a solar installer in Muncie, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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 Muncie
Factors that Affect Solar Panel Costs in Muncie
The cost of installing a solar system in Muncie can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Muncie average.
Solar Financing Terms
Most solar installers in Muncie have solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also increases your overall costs, so it’s important to keep that in mind 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
A final factor to consider when trying to estimate the cost of solar for your home or business in Muncie is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that offer a range of services at different costs.Companies that only sell high-efficiency and high-priced 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 find a company that offers the products, warranties and services you’re looking for and also fit into 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 | $4.26 | $17,909 | $9,362 | 16.4 years |
| 8 kW | $4.18 | $23,419 | $12,942 | 16.1 years |
| 10 kW | $4.10 | $28,700 | $16,751 | 15.8 years |
| 12 kW | $4.02 | $33,751 | $20,790 | 15.5 years |
| 14 kW | $3.94 | $38,573 | $25,059 | 15.2 years |
| 16 kW | $3.85 | $43,165 | $29,557 | 14.8 years |
| 18 kW | $3.77 | $47,527 | $34,285 | 14.5 years |
| 20 kW | $3.69 | $51,660 | $39,242 | 14.2 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Muncie, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: The model of solar panel you’d like to install plays a part in which installer you should choose, since different companies have different panels.
- Installation Process: When making the switch to solar energy, it’s important to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
Best National Provider
SunPower
- 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
- 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 Muncie, IN Solar Cost FAQs
What is the average cost of installing solar panels in Muncie?
The average cost of solar panels in Muncie is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Muncie?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 option if you want to maximize your savings.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $909.02 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.