Solar Panel Cost Guide in Princeton, IN (2024 Update)
- Princeton Solar Installation Cost: $24,508
- 25-Year Savings: $26,565
- Payback Period: 14.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Princeton
Find out how much it might cost to go solar in Princeton.
The national average cost of solar panels is $2.66 per watt, but in Princeton it’s 4 per watt.The average solar panel system size in Princeton is around 8.5 kilowatts, meaning a cost of about $24,508 for a solar installation, or $35,046 before the 0 federal solar tax credit is applied.
These figures are only estimates, and your own solar costs may vary based on factors unique to your home and what company you want to go with.With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Princeton find investing in solar can pay off big.
To receive a free quote from a highly rated solar installation company in Princeton, you can click the button below.
Solar savings over time in Princeton
| Year | Return on Investment |
|---|---|
| 1 years | $-23,182 |
| 3 years | $-20,531 |
| 5 years | $-17,880 |
| 7 years | $-15,228 |
| 9 years | $-12,577 |
| 11 years | $-9,926 |
| 13 years | $-7,275 |
| 15 years | $-4,623 |
| 17 years | $-1,972 |
| 19 years | $679 |
| 21 years | $3,330 |
| 23 years | $5,981 |
| 25 years | $8,633 |
Top Solar Installers in Princeton
Trying to put up solar panels yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over time.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Princeton
Factors that Affect Solar Panel Costs in Princeton
There are many factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $4,100. There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that as well. You can always reduce 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 figure out the cost of solar for your home or business in Princeton is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, you’ll have many options for solar installers that offer a range of services for different budgets.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 choose a company that provides the products, warranties and services you’re looking for and also fits within 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 | $12,012 | 15.0 years |
| 8 kW | $4.18 | $23,419 | $16,476 | 14.7 years |
| 10 kW | $4.10 | $28,700 | $21,169 | 14.4 years |
| 12 kW | $4.02 | $33,751 | $26,091 | 14.1 years |
| 14 kW | $3.94 | $38,573 | $31,243 | 13.8 years |
| 16 kW | $3.85 | $43,165 | $36,625 | 13.5 years |
| 18 kW | $3.77 | $47,527 | $42,236 | 13.2 years |
| 20 kW | $3.69 | $51,660 | $48,077 | 12.9 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 tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Different companies 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: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Princeton, IN Solar Cost FAQs
What is the average cost of installing solar panels in Princeton?
The average cost of solar panels in Princeton is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Princeton?
Solar panels aren’t free in Princeton, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is going solar worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Princeton?
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 larger level 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.