Solar Panel Cost Guide in Paoli, IN (2024 Update)
- Paoli Solar Installation Cost: $24,741
- 25-Year Savings: $25,613
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Paoli
Find out how much it might cost to install solar panels in Paoli.
In Paoli, solar panels cost about 4 per watt on average.Using this figure, a typical 8.6-kW system would cost about $24,741 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more.With typical savings of about $18,000 on energy bills over 20 years, many homeowners in Paoli find going solar can pay off big.
Click the button below to get connected to a reputable solar installer in Paoli for a custom estimate.
Solar savings over time in Paoli
| Year | Return on Investment |
|---|---|
| 1 years | $-23,416 |
| 3 years | $-20,764 |
| 5 years | $-18,113 |
| 7 years | $-15,462 |
| 9 years | $-12,811 |
| 11 years | $-10,159 |
| 13 years | $-7,508 |
| 15 years | $-4,857 |
| 17 years | $-2,206 |
| 19 years | $445 |
| 21 years | $3,097 |
| 23 years | $5,748 |
| 25 years | $8,399 |
Top Solar Installers in Paoli
Many homeowners decide to use a solar panel installer since installing solar panels on your own can be a labor-intensive endeavor. Since solar panels are exposed to temperature swings and extreme weather, 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 vetted solar company can make going solar easier. 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 Paoli
Factors that Affect Solar Panel Costs in Paoli
The cost of installing a solar system in Paoli can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,100.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Paoli, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
Many homeowners find the average cost of solar in Paoli to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installation company you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of 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 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 | $11,174 | 15.4 years |
| 8 kW | $4.18 | $23,419 | $15,357 | 15.1 years |
| 10 kW | $4.10 | $28,700 | $19,771 | 14.8 years |
| 12 kW | $4.02 | $33,751 | $24,414 | 14.5 years |
| 14 kW | $3.94 | $38,573 | $29,286 | 14.2 years |
| 16 kW | $3.85 | $43,165 | $34,388 | 13.9 years |
| 18 kW | $3.77 | $47,527 | $39,720 | 13.6 years |
| 20 kW | $3.69 | $51,660 | $45,281 | 13.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the completion timeline.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
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 Paoli, IN Solar Cost FAQs
What is the average cost of installing solar panels in Paoli?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Paoli?
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 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 financial benefits from going solar.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Paoli is currently $160,405, so you can look forward to a value of about $6,577 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Paoli is a worthwhile investment.
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 are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.