Solar Panel Cost Guide in Seymour, IN (Mar 2023)
- Seymour Solar Installation Cost: $16,227
- 25-Year Savings: $25,302
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Seymour
Find out what the average cost of solar panel installation is in Seymour.
Although the national average of solar panels is $2.66 per watt, solar panels in Seymour typically cost around 2.68. The average Seymour homeowner needs a 8.7-kilowatt system, which would cost about $16,227 with the federal tax credit, or $23,205 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Seymour homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on power bills.
To receive a free estimate from a vetted solar installation company in Seymour, you can click the button below.
Solar savings over time in Seymour
| Year | Return on Investment |
|---|---|
| 1 years | $-14,566 |
| 3 years | $-11,244 |
| 5 years | $-7,922 |
| 7 years | $-4,599 |
| 9 years | $-1,277 |
| 11 years | $2,046 |
| 13 years | $5,368 |
| 15 years | $8,690 |
| 17 years | $12,013 |
| 19 years | $15,335 |
| 21 years | $18,657 |
| 23 years | $21,980 |
| 25 years | $25,302 |
Top Solar Installers in Seymour
Many homeowners opt for a solar installation company since figuring out how to install solar panels yourself can be challenging. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
You can work with a local solar installer to get a free quote on how much your investment in solar 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 (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 Seymour
Factors that Affect Solar Panel Costs in Seymour
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Seymour: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,680. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Seymour, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall 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
Finally, the company you opt for to install your solar panel system can play a role in determining how much it costs. Seymour's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $17,113 | 10.2 years |
| 8 kW | $2.73 | $15,308 | $23,117 | 10.0 years |
| 10 kW | $2.68 | $18,760 | $29,271 | 9.8 years |
| 12 kW | $2.63 | $22,062 | $35,576 | 9.6 years |
| 14 kW | $2.57 | $25,213 | $42,031 | 9.4 years |
| 16 kW | $2.52 | $28,215 | $48,635 | 9.2 years |
| 18 kW | $2.47 | $31,067 | $55,390 | 9.0 years |
| 20 kW | $2.41 | $33,768 | $62,295 | 8.8 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 models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous 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 (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 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 $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Seymour?
A solar panel system isn't free in Seymour, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels significantly reduce my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Seymour, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Seymour?
On average, solar panels can last 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 higher amount 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.