Solar Panel Cost Guide in North Terre Haute, IN (2024 Update)
- North Terre Haute Solar Installation Cost: $25,015
- 25-Year Savings: $22,162
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in North Terre Haute
We go over 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 generally cost about 4.To cover the typical energy needs of the average home in North Terre Haute, most homeowners require a 8.7-kilowatt system. Using the figure above, a solar installation costs about $25,015, or $35,771 before the federal solar tax credit of 0 is applied.
These figures are only averages, and the cost of going solar for you will most likely vary based on the amount of energy your home requires and what company you choose to go with.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in North Terre Haute see about $17,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar company in North Terre Haute for a customized estimate.
Solar savings over time in North Terre Haute
| Year | Return on Investment |
|---|---|
| 1 years | $-23,690 |
| 3 years | $-21,038 |
| 5 years | $-18,387 |
| 7 years | $-15,736 |
| 9 years | $-13,085 |
| 11 years | $-10,434 |
| 13 years | $-7,782 |
| 15 years | $-5,131 |
| 17 years | $-2,480 |
| 19 years | $171 |
| 21 years | $2,823 |
| 23 years | $5,474 |
| 25 years | $8,125 |
Top Solar Installers in North Terre Haute
When switching to solar energy, many homeowners prefer to hire a solar installer since DIY solar panel installation can be a difficult project. Plus, if you’re not certain what brand of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 North Terre Haute
Factors that Affect Solar Panel Costs in North Terre Haute
For many North Terre Haute homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in North Terre Haute, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many North Terre Haute homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your all-in costs, so it’s vital to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in North Terre Haute, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $8,603 | 16.9 years |
| 8 kW | $4.18 | $23,419 | $11,930 | 16.6 years |
| 10 kW | $4.10 | $28,700 | $15,486 | 16.2 years |
| 12 kW | $4.02 | $33,751 | $19,273 | 15.9 years |
| 14 kW | $3.94 | $38,573 | $23,288 | 15.6 years |
| 16 kW | $3.85 | $43,165 | $27,534 | 15.3 years |
| 18 kW | $3.77 | $47,527 | $32,008 | 14.9 years |
| 20 kW | $3.69 | $51,660 | $36,713 | 14.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 North Terre Haute, IN Solar Cost FAQs
How much does it cost to install solar panels in North Terre Haute?
The average cost of solar panels in North Terre Haute 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.
Should I lease or buy solar panels in North Terre Haute?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will solar panels impact how much my home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t go for 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 should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.