Solar Panel Cost Guide in Seymour, IN (2024 Update)
- Seymour Solar Installation Cost: $24,815
- 25-Year Savings: $8,325
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Seymour
Find out what the average cost of solar panels are in Seymour.
In Seymour, solar panels cost about 4 per watt on average.Since a 8.6-kW system is needed to cover the energy consumption of a typical home in Seymour, the average price of going solar will be about $24,815 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more.For many homeowners, the upfront investment in solar is worth paying. On average Seymour homeowners see about $18,000 in savings on energy bills over 20 years.
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 Seymour
| Year | Return on Investment |
|---|---|
| 1 years | $-23,489 |
| 3 years | $-20,838 |
| 5 years | $-18,187 |
| 7 years | $-15,535 |
| 9 years | $-12,884 |
| 11 years | $-10,233 |
| 13 years | $-7,582 |
| 15 years | $-4,931 |
| 17 years | $-2,279 |
| 19 years | $372 |
| 21 years | $3,023 |
| 23 years | $5,674 |
| 25 years | $8,325 |
Top Solar Installers in Seymour
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar panel installer can make swapping over to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar contractor too, which can save you more money after your upfront investment.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Seymour
Factors that Affect Solar Panel Costs in Seymour
For many Seymour homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Seymour, with typical prices between $20,000 to $40,000. There are various 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 system in Seymour, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $4,100 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Seymour average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Even though solar loans make switching to solar energy more accessible for Seymour homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Seymour is the company you hire to install your PV system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets.Some companies only sell products with high efficiency and therefore a higher price point — 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 decide on the company that offers the products, warranties and services you’re looking for and also is 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 | $10,910 | 15.5 years |
| 8 kW | $4.18 | $23,419 | $15,006 | 15.2 years |
| 10 kW | $4.10 | $28,700 | $19,331 | 14.9 years |
| 12 kW | $4.02 | $33,751 | $23,887 | 14.6 years |
| 14 kW | $3.94 | $38,573 | $28,671 | 14.3 years |
| 16 kW | $3.85 | $43,165 | $33,686 | 14.0 years |
| 18 kW | $3.77 | $47,527 | $38,929 | 13.7 years |
| 20 kW | $3.69 | $51,660 | $44,403 | 13.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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 satisfied reviews from previous customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although 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 make sure you ask for their list of offerings before making your decision.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
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 Seymour, IN Solar Cost FAQs
What is the average cost of installing solar panels in Seymour?
The average cost of solar panels in Seymour 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Seymour?
Leasing solar panels can be an attractive choice, because it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Seymour have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.