Solar Panel Cost Guide in Tipton, IN (Mar 2023)
- Tipton Solar Installation Cost: $16,621
- 25-Year Savings: $19,320
- Payback Period: 11.6 Years
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Updated March 14, 2023
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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 2.68 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 $23,768 before 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 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 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's a priority to accurately gauge 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
Most solar companies in Tipton offer solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Tipton, you'll have lots of options to choose from, but each comes at varying price points 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 come with an above-average cost. It's best to do some research and choose a company that offers the products, warranties and services you're looking for 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 | $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 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 Tipton, IN Solar Cost FAQs
What is the average cost of installing solar panels in Tipton?
The average cost of solar panels in Tipton 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Tipton?
Solar panels aren't free in Tipton, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Tipton?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
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 higher 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.