Solar Panel Cost Guide in Sullivan, IN (Mar 2023)
- Sullivan Solar Installation Cost: $16,284
- 25-Year Savings: $22,467
- Payback Period: 10.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Sullivan
Here's how much it might cost to go solar in Sullivan.
In Sullivan, solar panels cost about 2.68 per watt on average. To account for 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 true cost of your system can go above or below the average in Sullivan depending on a few factors, such as the model of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a sound investment. The average homeowner in Sullivan can save around $17,000 on their energy bills over 20 years.
Click the button below to get connected to a vetted solar company in Sullivan for a custom quote.
Solar savings over time in Sullivan
| Year | Return on Investment |
|---|---|
| 1 years | $-14,734 |
| 3 years | $-11,634 |
| 5 years | $-8,534 |
| 7 years | $-5,434 |
| 9 years | $-2,333 |
| 11 years | $767 |
| 13 years | $3,867 |
| 15 years | $6,967 |
| 17 years | $10,067 |
| 19 years | $13,167 |
| 21 years | $16,267 |
| 23 years | $19,367 |
| 25 years | $22,467 |
Top Solar Installers in Sullivan
Installing solar panels on your own can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. Some solar companies, especially local ones, can help you take advantage of incentives in Sullivan, therefore optimizing your ROI.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Sullivan
Factors that Affect Solar Panel Costs in Sullivan
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Sullivan: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Sullivan, 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 figure out by looking at past electricity bills. Your overall cost can increase by about $2,680 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive 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
Most solar companies in Sullivan provide solar loans, which reduce your upfront costs of installing solar. 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 a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Sullivan, and each can charge varying amounts for labor and equipment. 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 cost more. It's best to do some research and choose a company that provides the products, warranties and services you want and also fit into 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
There are numerous companies available in Sullivan, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- 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 you can expect about your solar system's energy production.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
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 Sullivan, IN Solar Cost FAQs
How much does it cost to install solar panels in Sullivan?
The average cost of solar panels in Sullivan is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Sullivan, 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.
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.