Solar Panel Cost Guide in North Vernon, IN (2024 Update)
- North Vernon Solar Installation Cost: $24,855
- 25-Year Savings: $26,191
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in North Vernon
Let’s take a look at the average cost of solar in North Vernon.
In North Vernon, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in North Vernon, most homeowners require a 8.7-kilowatt system. Using the figure above, a solar installation costs about $24,855, or $35,543 before the federal solar tax credit of 0 is applied.
How much you pay can be higher or lower than the average in North Vernon depending on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire.With typical savings of about $19,000 on energy bills over 20 years, many homeowners in North Vernon find installing solar panels can pay off big.
You can click the button below to get connected with a vetted solar company in North Vernon for a quote for your home.
Solar savings over time in North Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-23,530 |
| 3 years | $-20,879 |
| 5 years | $-18,227 |
| 7 years | $-15,576 |
| 9 years | $-12,925 |
| 11 years | $-10,274 |
| 13 years | $-7,622 |
| 15 years | $-4,971 |
| 17 years | $-2,320 |
| 19 years | $331 |
| 21 years | $2,982 |
| 23 years | $5,634 |
| 25 years | $8,285 |
Top Solar Installers in North Vernon
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make your swap to solar power much easier. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a licensed solar installer can help your solar project go smoothly. 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 Vernon
Factors that Affect Solar Panel Costs in North Vernon
For many North Vernon homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in North Vernon, with typical prices between $20,000 to $40,000. There are various factors that considerably 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 determines the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like North Vernon, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in North Vernon to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.Though solar loans make adopting solar energy more accessible for North Vernon homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout North Vernon, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $11,492 | 15.2 years |
| 8 kW | $4.18 | $23,419 | $15,782 | 14.9 years |
| 10 kW | $4.10 | $28,700 | $20,302 | 14.6 years |
| 12 kW | $4.02 | $33,751 | $25,051 | 14.3 years |
| 14 kW | $3.94 | $38,573 | $30,030 | 14.1 years |
| 16 kW | $3.85 | $43,165 | $35,238 | 13.8 years |
| 18 kW | $3.77 | $47,527 | $40,676 | 13.5 years |
| 20 kW | $3.69 | $51,660 | $46,344 | 13.2 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:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different costs 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 good reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Vernon, IN Solar Cost FAQs
How much does it cost to install solar panels in North Vernon?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in North Vernon?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $980.04 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 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.