Solar Panel Cost Guide in Pendleton, IN (2023 Update)
- Pendleton Solar Installation Cost: $16,662
- 25-Year Savings: $23,512
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Pendleton
See how much it might cost to make the switch to solar in Pendleton.
The average cost of a solar system in Pendleton is 2.68 per watt. The average solar panel system size in Pendleton is around 8.9 kilowatts, meaning a cost of about $16,659 for a solar installation, or $23,822 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Pendleton depending on a few factors, such as the type of solar panels you choose and the solar contractor you hire. With typical savings of about $17,000 on energy bills over 20 years, many homeowners in Pendleton find installing solar panels can be quite rewarding.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Pendleton
| Year | Return on Investment |
|---|---|
| 1 years | $-16,528 |
| 3 years | $-16,261 |
| 5 years | $-15,993 |
| 7 years | $-15,725 |
| 9 years | $-15,457 |
| 11 years | $-15,189 |
| 13 years | $-14,921 |
| 15 years | $-14,654 |
| 17 years | $-14,386 |
| 19 years | $-14,118 |
| 21 years | $-13,850 |
| 23 years | $-13,582 |
| 25 years | $-13,314 |
Top Solar Installers in Pendleton
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar company can make your switch to solar power much easier. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
If you'd like to switch to solar energy but still aren't sure which solar panel company to go with, here are our suggestions for providers 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
The cost of installing a solar system in Pendleton can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,680. The type of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is 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 searching for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also adds to your all-in costs, so it's vital to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Pendleton is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services for different budgets. The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $2.79 | $11,706 | $15,433 | 10.8 years |
| 8 kW | $2.73 | $15,308 | $20,877 | 10.6 years |
| 10 kW | $2.68 | $18,760 | $26,472 | 10.4 years |
| 12 kW | $2.63 | $22,062 | $32,217 | 10.2 years |
| 14 kW | $2.57 | $25,213 | $38,111 | 10.0 years |
| 16 kW | $2.52 | $28,215 | $44,156 | 9.7 years |
| 18 kW | $2.47 | $31,067 | $50,351 | 9.5 years |
| 20 kW | $2.41 | $33,768 | $56,696 | 9.3 years |
How to Save on Solar Panels
The solar company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Review the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
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
How much does it cost to install solar panels in Pendleton?
The average cost of solar panels in Pendleton is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Pendleton?
Leasing solar panels can be an appealing choice, because it typically 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 way to go if you want to maximize your savings.
How will installing solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pendleton is currently $125,289, which means you can expect a value of about $5,137 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Pendleton is a fruitful investment.
How often do you have to replace solar panels?
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 the amount of energy they produce will have decreased significantly after that point. You can opt 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.