Solar Panel Cost Guide in Sellersburg, IN (Mar 2023)
- Sellersburg Solar Installation Cost: $16,209
- 25-Year Savings: $24,222
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Sellersburg
Find out how much it might cost to install solar panels in Sellersburg.
The average cost of a solar panel system in Sellersburg is 2.68 per watt. The average solar panel system size in Sellersburg is around 8.6 kilowatts, meaning a cost of about $16,209 for a solar installation, or $23,179 before the 30% federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Sellersburg depending on several factors, such as the model of solar panels you choose and the solar installer you hire. Even with the high initial cost, the average Sellersburg homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Sellersburg
| Year | Return on Investment |
|---|---|
| 1 years | $-14,591 |
| 3 years | $-11,357 |
| 5 years | $-8,122 |
| 7 years | $-4,888 |
| 9 years | $-1,654 |
| 11 years | $1,581 |
| 13 years | $4,815 |
| 15 years | $8,050 |
| 17 years | $11,284 |
| 19 years | $14,519 |
| 21 years | $17,753 |
| 23 years | $20,988 |
| 25 years | $24,222 |
Top Solar Installers in Sellersburg
Many homeowners opt for a solar installer since installing solar panels on your own can be challenging. Also, companies with a good reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Sellersburg
Factors that Affect Solar Panel Costs in Sellersburg
The cost of installing a solar system in Sellersburg can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Sellersburg, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your overall costs, so it's vital to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $16,370 | 10.4 years |
| 8 kW | $2.73 | $15,308 | $22,127 | 10.2 years |
| 10 kW | $2.68 | $18,760 | $28,034 | 10.0 years |
| 12 kW | $2.63 | $22,062 | $34,091 | 9.8 years |
| 14 kW | $2.57 | $25,213 | $40,298 | 9.6 years |
| 16 kW | $2.52 | $28,215 | $46,656 | 9.4 years |
| 18 kW | $2.47 | $31,067 | $53,163 | 9.2 years |
| 20 kW | $2.41 | $33,768 | $59,820 | 9.0 years |
How to Save on Solar Panels
The solar company you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- 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: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Sellersburg, IN Solar Cost FAQs
What is the average cost of installing solar panels in Sellersburg?
This is a tough question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Sellersburg?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 bang for your buck from going solar.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Sellersburg is currently $176,868, so you can expect a value of about $7,252 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Sellersburg is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.