Solar Panel Cost Guide in New Whiteland, IN (2024 Update)

  • New Whiteland Solar Installation Cost: $25,125
  • 25-Year Savings: $24,090
  • Payback Period: 15.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

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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 New Whiteland

Let’s take a look at the average cost of solar in New Whiteland.

Although the national average of solar panels is $2.66 per watt, solar panels in New Whiteland generally cost about 4.Because a 8.8-kW system is needed to cover the energy needs of a typical home in New Whiteland, the average price of going solar will be about $25,125 after claiming the federal solar tax credit of 0.

How much you pay can go higher or lower than the average in New Whiteland depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $18,000 over 20 years on electricity bills.

You can click the button below to get connected with a pre-vetted solar installer in New Whiteland for a quote for your home.

Solar savings over time in New Whiteland

YearReturn on Investment
1 years$-23,800
3 years$-21,149
5 years$-18,497
7 years$-15,846
9 years$-13,195
11 years$-10,544
13 years$-7,893
15 years$-5,241
17 years$-2,590
19 years$61
21 years$2,712
23 years$5,363
25 years$8,015

Top Solar Installers in New Whiteland

Installing solar panels by yourself can be a time-consuming project, which is why getting a solar installer is a good option for many homeowners. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for your home.

Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:

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

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 New Whiteland

Factors that Affect Solar Panel Costs in New Whiteland

The cost of installing a solar system in New Whiteland can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require 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 kind of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.

Solar Financing Terms

If paying for solar panels in cash is difficult, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.

Solar Panel Installation Company

The solar installation company you select will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.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 decide on the company that provides the products, warranties and services you want and also is within your budget.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$4.26$17,909$9,85716.1 years
8 kW$4.18$23,419$13,60215.8 years
10 kW$4.10$28,700$17,57615.5 years
12 kW$4.02$33,751$21,78015.2 years
14 kW$3.94$38,573$26,21414.9 years
16 kW$3.85$43,165$30,87714.6 years
18 kW$3.77$47,527$35,77014.3 years
20 kW$3.69$51,660$40,89314.0 years

How to Save on Solar Panels

Since the kind of solar panels and the company you choose greatly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: Before you sign a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
  • Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
  • Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a good company.

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

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 New Whiteland, IN Solar Cost FAQs

How much does it cost to install solar panels in New Whiteland?

This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to think about when buying solar panels?

Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How much can I save on energy bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $925.53 per year.

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 larger 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.