Solar Panel Cost Guide in North Terre Haute, IN (Oct 2022)

  • North Terre Haute Solar Installation Cost: $16,359
  • 25-Year Savings: $22,155
  • Payback Period: 10.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in North Terre Haute

We break down average solar pricing in North Terre Haute.

Although the national average of solar panels is $2.66 per watt, solar panels in North Terre Haute typically cost around $3. The average solar panel system size in North Terre Haute is around 8.7 kilowatts, meaning a cost of about $16,359 for a solar installation, or $12,106 after the 30% federal solar tax credit is applied.

These figures are only estimates, and how much solar costs for you may look different based on factors unique to your home and what company you choose to go with. Even with the significant upfront cost, the average North Terre Haute homeowner can save around $17,000 on their power bills over 20 years, which is one of the advantages of solar.

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 North Terre Haute

Year Return on Investment
1 years $-14,818
3 years $-11,737
5 years $-8,656
7 years $-5,575
9 years $-2,494
11 years $587
13 years $3,668
15 years $6,750
17 years $9,831
19 years $12,912
21 years $15,993
23 years $19,074
25 years $22,155

Top Solar Installers in North Terre Haute

Many homeowners choose to use a solar installation company since installing solar panels by yourself can be a labor-intensive endeavor. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.

You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in North Terre Haute:

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 (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 North Terre Haute

Factors that Affect Solar Panel Costs in North Terre Haute

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

Solar Equipment Size

When it comes to estimating the cost of solar panels in North Terre Haute, one of the most important 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 usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,680 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can raise or lower 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 more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in North Terre Haute to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's crucial to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

The solar company you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating in North Terre Haute, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.

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 $14,806 11.0 years
8 kW $2.73 $15,308 $20,041 10.8 years
10 kW $2.68 $18,760 $25,426 10.6 years
12 kW $2.63 $22,062 $30,962 10.4 years
14 kW $2.57 $25,213 $36,648 10.2 years
16 kW $2.52 $28,215 $42,483 10.0 years
18 kW $2.47 $31,067 $48,469 9.8 years
20 kW $2.41 $33,768 $54,605 9.6 years

Solar Incentives in North Terre Haute

Name Renewable Energy Property Tax Exemption
Website Visit here
More Info Click here

Name Noble REMC - Residential Energy Efficiency Rebate Incentives
Website Visit here
More Info Click here

Name NIPSCO - Feed-In Tariff
Website Visit here
More Info Click here

Name Duke Energy - Residential and Builder Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar installer you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:

  • Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
  • Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
  • 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 type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.

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 (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 North Terre Haute, IN Solar Cost FAQs

What is the average cost of installing solar panels in North Terre Haute?

The average cost of solar panels in North Terre Haute is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.

Is cost the most important consideration when buying solar panels?

The upfront cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

Is it worth going solar in North Terre Haute?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.

How long do solar panels last in North Terre Haute?

On average, solar panels can last 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 higher 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.

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