Solar Panel Cost Guide in Tipton, IN (Nov 2022)

  • Tipton Solar Installation Cost: $16,621
  • 25-Year Savings: $19,320
  • Payback Period: 11.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Tipton

Find out what the average cost of installing solar panels is in Tipton.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Tipton, the typical cost of solar panels is $3 per watt. To cover the typical energy needs of the average home in Tipton, most homeowners require a 8.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,621, or $12,300 after the federal solar tax credit of 30% is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Tipton homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $15,000 over 20 years on power bills.

Click the button below to get connected to a highly rated solar installer in Tipton for a custom estimate.

Solar savings over time in Tipton

Year Return on Investment
1 years $-15,184
3 years $-12,308
5 years $-9,433
7 years $-6,558
9 years $-3,683
11 years $-807
13 years $2,068
15 years $4,943
17 years $7,819
19 years $10,694
21 years $13,569
23 years $16,444
25 years $19,320

Top Solar Installers in Tipton

Trying to install solar panels by yourself can be a time-consuming project, which is why getting a solar installation company is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be best for you.

You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Tipton

Factors that Affect Solar Panel Costs in Tipton

Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Tipton: 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

Size is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

If paying for a solar system out of pocket is difficult, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

The solar panel installation company you select will affect your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 $12,633 12.0 years
8 kW $2.73 $15,308 $17,144 11.8 years
10 kW $2.68 $18,760 $21,805 11.6 years
12 kW $2.63 $22,062 $26,617 11.3 years
14 kW $2.57 $25,213 $31,578 11.1 years
16 kW $2.52 $28,215 $36,690 10.9 years
18 kW $2.47 $31,067 $41,951 10.6 years
20 kW $2.41 $33,768 $47,363 10.4 years

How to Save on Solar Panels

Since the brand of solar panels and the company you choose significantly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
  • Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Tipton, IN Solar Cost FAQs

How much does it cost to install solar panels in Tipton?

This is a difficult question to answer precisely, because the cost depends on many 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Are solar panels free in Tipton?

You can't get solar panels for free in Tipton. 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.

Do solar panels increase your property value?

Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.

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.

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