Solar Panel Cost Guide in Vincennes, IN (2023 Update)
- Vincennes Solar Installation Cost: $16,144
- 25-Year Savings: $22,606
- Payback Period: 10.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Vincennes
We go over average solar pricing in Vincennes.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Vincennes, the typical cost of a solar system is 2.68 per watt. The average Vincennes homeowner needs a 8.6-kilowatt system, which would cost about $16,152 with the federal tax credit, or $23,097 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with. Many homeowners find installing a solar system is a solid investment. The average homeowner in Vincennes can save around $17,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Vincennes that can help you get a more accurate cost estimate for your home.
Solar savings over time in Vincennes
| Year | Return on Investment |
|---|---|
| 1 years | $-14,818 |
| 3 years | $-12,167 |
| 5 years | $-9,516 |
| 7 years | $-6,865 |
| 9 years | $-4,214 |
| 11 years | $-1,562 |
| 13 years | $1,089 |
| 15 years | $3,740 |
| 17 years | $6,391 |
| 19 years | $9,043 |
| 21 years | $11,694 |
| 23 years | $14,345 |
| 25 years | $16,996 |
Top Solar Installers in Vincennes
Although it's possible to install solar panels on your own, it takes extra time and handiness. Because of that, almost all homeowners choose a solar panel installer. Another benefit of going with a solar installer is that they can help you maximize your ROI by lowering your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
There are various licensed solar professionals that can install solar panels for you. 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 Vincennes
Factors that Affect Solar Panel Costs in Vincennes
The cost of installing a solar system in Vincennes can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your household, 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. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Vincennes average.
Solar Financing Terms
Most solar installers in Vincennes have solar loans, which reduce your upfront costs of installing a solar system. Although solar loans make going solar more accessible for Vincennes homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you select will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Vincennes have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $15,311 | 10.8 years |
| 8 kW | $2.73 | $15,308 | $20,715 | 10.6 years |
| 10 kW | $2.68 | $18,760 | $26,269 | 10.4 years |
| 12 kW | $2.63 | $22,062 | $31,973 | 10.2 years |
| 14 kW | $2.57 | $25,213 | $37,828 | 10.0 years |
| 16 kW | $2.52 | $28,215 | $43,832 | 9.8 years |
| 18 kW | $2.47 | $31,067 | $49,986 | 9.6 years |
| 20 kW | $2.41 | $33,768 | $56,291 | 9.4 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: Before you sign a contract with a solar installer, 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 the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Vincennes, IN Solar Cost FAQs
What is the average cost of installing solar panels in Vincennes?
This is a tough question to answer exactly, 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Vincennes?
You can't get solar panels for free in Vincennes. 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.
How will solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Vincennes is currently $106,600, which means you could be looking at a value of about $4,371 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Vincennes is a rewarding investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.