Solar Panel Cost Guide in Shelbyville, IN (2023 Update)
- Shelbyville Solar Installation Cost: $16,471
- 25-Year Savings: $25,575
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Shelbyville
Find out how much it might cost to install solar panels in Shelbyville.
Although the national average of solar panels is $2.66 per watt, solar panels in Shelbyville generally cost around 2.68. Using this figure, a typical 8.8-kW system would cost about $16,471 before the 30% federal solar tax credit is applied.
The true price you pay can go above or below the average in Shelbyville depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $18,000 in savings on electricity bills over 20 years.
To get a free estimate from a pre-vetted solar company in Shelbyville, you can click the button below.
Solar savings over time in Shelbyville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,789 |
| 3 years | $-11,426 |
| 5 years | $-8,062 |
| 7 years | $-4,698 |
| 9 years | $-1,334 |
| 11 years | $2,029 |
| 13 years | $5,393 |
| 15 years | $8,757 |
| 17 years | $12,121 |
| 19 years | $15,484 |
| 21 years | $18,848 |
| 23 years | $22,212 |
| 25 years | $25,575 |
Top Solar Installers in Shelbyville
Although it's possible to install solar panels yourself, it involves extra energy and expertise. That's one of the reasons most homeowners choose to hire a solar panel installer. The payback period on a solar system will vary based on factors like your roof configuration and energy use, but going with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you'd like to start using solar energy but still aren't certain which solar company to go with, here are our recommendations for providers near you:
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 Shelbyville
Factors that Affect Solar Panel Costs in Shelbyville
Though the average cost of a solar system in Shelbyville is $16,471, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems 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 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 kind of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Shelbyville homeowners decide to finance their solar panel systems to offset upfront costs. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Shelbyville, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $17,021 | 10.2 years |
| 8 kW | $2.73 | $15,308 | $22,995 | 10.0 years |
| 10 kW | $2.68 | $18,760 | $29,118 | 9.8 years |
| 12 kW | $2.63 | $22,062 | $35,392 | 9.6 years |
| 14 kW | $2.57 | $25,213 | $41,816 | 9.4 years |
| 16 kW | $2.52 | $28,215 | $48,391 | 9.2 years |
| 18 kW | $2.47 | $31,067 | $55,115 | 9.0 years |
| 20 kW | $2.41 | $33,768 | $61,989 | 8.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose greatly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Solar Panel Brands: The model of solar panel you'd like to install plays a part in which company you should opt for, since different companies offer different panels.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Shelbyville, IN Solar Cost FAQs
How much does it cost to install solar panels in Shelbyville?
The average cost of solar panels in Shelbyville 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 like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Shelbyville have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces 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 long do solar panels last in Shelbyville?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.