Solar Panel Cost Guide in Sullivan, IN (2023 Update)
- Sullivan Solar Installation Cost: $16,282
- 25-Year Savings: $22,468
- Payback Period: 10.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Sullivan
Here's how much it might cost to make the switch to solar in Sullivan.
In Sullivan, solar panels cost about 2.68 per watt on average. To cover the typical energy needs of the average home in Sullivan, most homeowners require a 8.7-kilowatt system. Using the figure above, a solar installation costs around $16,284, or $23,286 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy consumption and what company you go with. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Sullivan can save about $17,000 on their energy bills over 20 years.
To get a free quote from a highly rated solar installer in Sullivan, you can click the button below.
Solar savings over time in Sullivan
| Year | Return on Investment |
|---|---|
| 1 years | $-14,957 |
| 3 years | $-12,305 |
| 5 years | $-9,654 |
| 7 years | $-7,003 |
| 9 years | $-4,352 |
| 11 years | $-1,701 |
| 13 years | $951 |
| 15 years | $3,602 |
| 17 years | $6,253 |
| 19 years | $8,904 |
| 21 years | $11,555 |
| 23 years | $14,207 |
| 25 years | $16,858 |
Top Solar Installers in Sullivan
Putting up solar panels by yourself can be a difficult project, which is why getting a solar installation company is a good option for many homeowners. Some solar companies, especially local ones, can help you take advantage of incentives in Sullivan, optimizing your ROI.
There are several 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 Sullivan
Factors that Affect Solar Panel Costs in Sullivan
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Sullivan: 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 size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,680. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Sullivan, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Many homeowners find the average cost of solar in Sullivan to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that offers the products, warranties and services you want 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 | $2.79 | $11,706 | $15,082 | 10.9 years |
| 8 kW | $2.73 | $15,308 | $20,409 | 10.7 years |
| 10 kW | $2.68 | $18,760 | $25,887 | 10.5 years |
| 12 kW | $2.63 | $22,062 | $31,515 | 10.3 years |
| 14 kW | $2.57 | $25,213 | $37,292 | 10.1 years |
| 16 kW | $2.52 | $28,215 | $43,220 | 9.9 years |
| 18 kW | $2.47 | $31,067 | $49,298 | 9.7 years |
| 20 kW | $2.41 | $33,768 | $55,526 | 9.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
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
What is the average cost of installing solar panels in Sullivan?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient 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 prefer to own your solar panels, you can finance them with a solar loan.
Does Sullivan have a net metering program?
Most states offer net metering programs of some kind. Through these, you can be compensated 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses 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 household 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.