Solar Panel Cost Guide in North Vernon, IN (2023 Update)
- North Vernon Solar Installation Cost: $16,246
- 25-Year Savings: $26,192
- Payback Period: 9.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in North Vernon
Find out what the average cost of solar panels are in North Vernon.
The average cost of a solar system in North Vernon is 2.68 per watt. The average solar panel system size in North Vernon is around 8.7 kilowatts, meaning a cost of about $16,246 for a solar installation, or $23,232 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of North Vernon homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in North Vernon can save about $19,000 on their energy bills over 20 years.
Click the button below to get connected to a reputable solar panel company in North Vernon for a personalized estimate.
Solar savings over time in North Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-14,549 |
| 3 years | $-11,154 |
| 5 years | $-7,759 |
| 7 years | $-4,364 |
| 9 years | $-968 |
| 11 years | $2,427 |
| 13 years | $5,822 |
| 15 years | $9,217 |
| 17 years | $12,612 |
| 19 years | $16,007 |
| 21 years | $19,402 |
| 23 years | $22,797 |
| 25 years | $26,192 |
Top Solar Installers in North Vernon
When going solar, many homeowners opt to use a solar company since installing solar panels yourself can be a challenging project. Plus, if you aren't sure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a licensed 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 North Vernon
Factors that Affect Solar Panel Costs in North Vernon
For many North Vernon homeowners, the decision to go solar 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 a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in North Vernon. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like North Vernon, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in North Vernon, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in North Vernon is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different costs. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to 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 | $17,695 | 10.0 years |
| 8 kW | $2.73 | $15,308 | $23,893 | 9.8 years |
| 10 kW | $2.68 | $18,760 | $30,242 | 9.6 years |
| 12 kW | $2.63 | $22,062 | $36,741 | 9.4 years |
| 14 kW | $2.57 | $25,213 | $43,389 | 9.2 years |
| 16 kW | $2.52 | $28,215 | $50,188 | 9.0 years |
| 18 kW | $2.47 | $31,067 | $57,137 | 8.8 years |
| 20 kW | $2.41 | $33,768 | $64,236 | 8.6 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:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which kind 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 peruse their list of offerings before making your decision.
- Warranty: If you care about the durability of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: When making the switch to solar power, it's important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project completion timeline.
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
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
What is the average cost of installing solar panels in North Vernon?
This is a difficult question to answer precisely, because the cost depends on a few different 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. It will cost more if you want extra 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 efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Does North Vernon have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.