Solar Panel Cost Guide in Pendleton, IN (2024 Update)
- Pendleton Solar Installation Cost: $25,491
- 25-Year Savings: $23,512
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Pendleton
Let’s take a look at the average cost of solar in Pendleton.
In Pendleton, solar panels cost about 4 per watt on average.The average Pendleton homeowner needs a 8.9-kilowatt system, which would cost about $25,491 with the federal tax credit, or $36,452 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you may differ based on your specific situation and what company you want to go with.Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Pendleton can save about $17,000 on their energy bills over 20 years.
To receive a free estimate from a vetted solar company in Pendleton, you can click the button below.
Solar savings over time in Pendleton
| Year | Return on Investment |
|---|---|
| 1 years | $-24,040 |
| 3 years | $-21,137 |
| 5 years | $-18,235 |
| 7 years | $-15,333 |
| 9 years | $-12,431 |
| 11 years | $-9,529 |
| 13 years | $-6,626 |
| 15 years | $-3,724 |
| 17 years | $-822 |
| 19 years | $2,080 |
| 21 years | $4,983 |
| 23 years | $7,885 |
| 25 years | $10,787 |
Top Solar Installers in Pendleton
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make your switch to solar power much easier. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar contractor too, which can save you more money after your upfront investment.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Pendleton:
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 Pendleton
Factors that Affect Solar Panel Costs in Pendleton
For many Pendleton homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Pendleton, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Pendleton, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past power bills. Your total cost can increase by about $4,100 for each additional kilowatt you need.The model of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Pendleton homeowners choose to finance their solar panel systems to make going solar more affordable.Although solar loans make switching to solar energy more accessible for Pendleton homeowners, they can also raise 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
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Pendleton is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that offer a range of services at different price points.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you want and also fit into your budget.
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 | $9,230 | 16.5 years |
| 8 kW | $4.18 | $23,419 | $12,766 | 16.2 years |
| 10 kW | $4.10 | $28,700 | $16,532 | 15.9 years |
| 12 kW | $4.02 | $33,751 | $20,527 | 15.5 years |
| 14 kW | $3.94 | $38,573 | $24,752 | 15.2 years |
| 16 kW | $3.85 | $43,165 | $29,206 | 14.9 years |
| 18 kW | $3.77 | $47,527 | $33,890 | 14.6 years |
| 20 kW | $3.69 | $51,660 | $38,804 | 14.3 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Installation Process: When making the switch to solar, it’s essential to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
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 Pendleton, IN Solar Cost FAQs
What is the average cost of installing solar panels in Pendleton?
The average cost of solar panels in Pendleton 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 type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Pendleton?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Does Pendleton have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
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 decide to replace them after having 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.