Solar Panel Cost Guide in Noblesville, IN (2023 Update)
- Noblesville Solar Installation Cost: $16,659
- 25-Year Savings: $21,115
- Payback Period: 11.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Noblesville
See how much it might cost to go solar in Noblesville.
Although the national average of solar panels is $2.66 per watt, solar panels in Noblesville generally cost about 2.68. Using this figure, a typical 8.9-kW system would cost about $16,659 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Noblesville based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. With average savings of about $16,000 on electricity bills over 20 years, many homeowners in Noblesville find investing in solar can pay off big.
To get a free estimate from a highly rated solar installer in Noblesville, you can click the button below.
Solar savings over time in Noblesville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,148 |
| 3 years | $-12,126 |
| 5 years | $-9,104 |
| 7 years | $-6,082 |
| 9 years | $-3,060 |
| 11 years | $-39 |
| 13 years | $2,983 |
| 15 years | $6,005 |
| 17 years | $9,027 |
| 19 years | $12,049 |
| 21 years | $15,071 |
| 23 years | $18,093 |
| 25 years | $21,115 |
Top Solar Installers in Noblesville
Although you can install solar panels by yourself, it takes extra labor and expertise. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Local solar companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
Working with a professional solar installer can help your solar project go smoothly. 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 Noblesville
Factors that Affect Solar Panel Costs in Noblesville
There are a number of factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,680. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Noblesville offer solar loans, which reduce your upfront costs of installing solar. Though solar loans make adopting solar energy more accessible for Noblesville homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Noblesville is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services at different costs. The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better 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 down 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 | $13,814 | 11.5 years |
| 8 kW | $2.73 | $15,308 | $18,719 | 11.2 years |
| 10 kW | $2.68 | $18,760 | $23,774 | 11.0 years |
| 12 kW | $2.63 | $22,062 | $28,980 | 10.8 years |
| 14 kW | $2.57 | $25,213 | $34,335 | 10.6 years |
| 16 kW | $2.52 | $28,215 | $39,840 | 10.4 years |
| 18 kW | $2.47 | $31,067 | $45,495 | 10.1 years |
| 20 kW | $2.41 | $33,768 | $51,301 | 9.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
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 Noblesville, IN Solar Cost FAQs
What is the average cost of installing solar panels in Noblesville?
The average cost of solar panels in Noblesville is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.