Solar Panel Cost Guide in New Whiteland, IN (2023 Update)
- New Whiteland Solar Installation Cost: $16,415
- 25-Year Savings: $24,098
- Payback Period: 10.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in New Whiteland
Let's take a look at the average cost of solar in New Whiteland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Whiteland, the typical cost of a solar system is 2.68 per watt. The average solar panel system size in New Whiteland is around 8.8 kilowatts, meaning a cost of about $16,415 for a solar installation, or $23,473 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in New Whiteland based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a rewarding investment. The average homeowner in New Whiteland can save about $18,000 on their electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in New Whiteland
| Year | Return on Investment |
|---|---|
| 1 years | $-14,794 |
| 3 years | $-11,553 |
| 5 years | $-8,312 |
| 7 years | $-5,071 |
| 9 years | $-1,830 |
| 11 years | $1,411 |
| 13 years | $4,652 |
| 15 years | $7,893 |
| 17 years | $11,134 |
| 19 years | $14,375 |
| 21 years | $17,616 |
| 23 years | $20,857 |
| 25 years | $24,098 |
Top Solar Installers in New Whiteland
Trying to put up solar panels by yourself can be a stressful task, which is why hiring a solar installer is a good option for many homeowners. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 New Whiteland
Factors that Affect Solar Panel Costs in New Whiteland
Even though the average cost of a solar system in New Whiteland is $16,415, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of solar panels in New Whiteland, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,680 for each additional kilowatt you need. The type of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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 into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in New Whiteland to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can influence how much it costs. New Whiteland's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $16,060 | 10.5 years |
| 8 kW | $2.73 | $15,308 | $21,713 | 10.3 years |
| 10 kW | $2.68 | $18,760 | $27,516 | 10.1 years |
| 12 kW | $2.63 | $22,062 | $33,470 | 9.9 years |
| 14 kW | $2.57 | $25,213 | $39,573 | 9.7 years |
| 16 kW | $2.52 | $28,215 | $45,827 | 9.5 years |
| 18 kW | $2.47 | $31,067 | $52,231 | 9.3 years |
| 20 kW | $2.41 | $33,768 | $58,785 | 9.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 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 exactly, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in New Whiteland?
Solar panels aren't free in New Whiteland, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in New Whiteland?
Each state has some form 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 give you credit toward your future energy bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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.