Solar Panel Cost Guide in Sullivan, IN (2024 Update)
- Sullivan Solar Installation Cost: $24,909
- 25-Year Savings: $22,468
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Sullivan
Find out what the average cost of solar panels are in Sullivan.
In Sullivan, solar panels cost about 4 per watt on average.The average Sullivan homeowner needs a 8.7-kilowatt system, which would cost about $24,909 with the federal tax credit, or $35,620 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of equipment you choose, your solar contractor and more.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $17,000 over 20 years on power bills.
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 Sullivan
| Year | Return on Investment |
|---|---|
| 1 years | $-23,584 |
| 3 years | $-20,933 |
| 5 years | $-18,281 |
| 7 years | $-15,630 |
| 9 years | $-12,979 |
| 11 years | $-10,328 |
| 13 years | $-7,677 |
| 15 years | $-5,025 |
| 17 years | $-2,374 |
| 19 years | $277 |
| 21 years | $2,928 |
| 23 years | $5,579 |
| 25 years | $8,231 |
Top Solar Installers in Sullivan
When switching to solar energy, many homeowners choose to use a solar installer since installing solar panels yourself can be a time-consuming project. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance in the long run.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Sullivan
Factors that Affect Solar Panel Costs in Sullivan
There are many factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,100. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Sullivan, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Sullivan homeowners choose to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Sullivan, and each can charge different amounts for labor and equipment.Companies that 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 go with the company that offers 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 | $8,879 | 16.7 years |
| 8 kW | $4.18 | $23,419 | $12,298 | 16.4 years |
| 10 kW | $4.10 | $28,700 | $15,947 | 16.1 years |
| 12 kW | $4.02 | $33,751 | $19,825 | 15.7 years |
| 14 kW | $3.94 | $38,573 | $23,933 | 15.4 years |
| 16 kW | $3.85 | $43,165 | $28,270 | 15.1 years |
| 18 kW | $3.77 | $47,527 | $32,837 | 14.8 years |
| 20 kW | $3.69 | $51,660 | $37,634 | 14.5 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:
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Sullivan, IN Solar Cost FAQs
How much does it cost to install solar panels in Sullivan?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Sullivan?
You can’t get solar panels for free in Sullivan. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $892.94 per year.
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.