Solar Panel Cost Guide in Vincennes, IN (2025 Update)
- Vincennes Solar Installation Cost: $24,698
- 25-Year Savings: $22,606
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Vincennes
Let’s have a look at the average cost of solar panels in Vincennes.
The average cost of a solar system in Vincennes is 4 per watt.The average solar panel system size in Vincennes is around 8.6 kilowatts, meaning a cost of about $24,698 for a solar installation, or $35,318 before the 0 federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you may look different based on the amount of energy your home requires and what company you choose to go with.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Vincennes see about $17,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar installer 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 | $-23,372 |
3 years | $-20,721 |
5 years | $-18,070 |
7 years | $-15,419 |
9 years | $-12,767 |
11 years | $-10,116 |
13 years | $-7,465 |
15 years | $-4,814 |
17 years | $-2,163 |
19 years | $489 |
21 years | $3,140 |
23 years | $5,791 |
25 years | $8,442 |
Top Solar Installers in Vincennes
Many homeowners decide to use a solar panel company since trying to install solar panels by yourself can be challenging. Solar warranties and repairs are usually included in the cost of installation when you opt for a solar contractor too, which can save you more money after your initial investment.
You can work with a local solar installer to get a free quote 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
See all of the solar companies in Vincennes
Factors that Affect Solar Panel Costs in Vincennes
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Vincennes: 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
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Vincennes homeowners opt to finance their solar panel systems to offset upfront costs.Though solar loans make switching to solar energy more accessible for Vincennes homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Vincennes, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Vincennes have more knowledge about local solar incentives and can help you make good use 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 | $4.26 | $17,909 | $9,109 | 16.6 years |
8 kW | $4.18 | $23,419 | $12,604 | 16.3 years |
10 kW | $4.10 | $28,700 | $16,329 | 15.9 years |
12 kW | $4.02 | $33,751 | $20,284 | 15.6 years |
14 kW | $3.94 | $38,573 | $24,468 | 15.3 years |
16 kW | $3.85 | $43,165 | $28,882 | 15.0 years |
18 kW | $3.77 | $47,527 | $33,526 | 14.7 years |
20 kW | $3.69 | $51,660 | $38,399 | 14.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose considerably affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Long-standing companies likely have a solid 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.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Vincennes, IN Solar Cost FAQs
How much does it cost to install solar panels in Vincennes?
The average cost of solar panels in Vincennes is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Vincennes?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Does Vincennes have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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 buy between 20 and 35 panels to cover 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.