Solar Panel Cost Guide in Vincennes, IN (Feb 2023)

  • Vincennes Solar Installation Cost: $16,152
  • 25-Year Savings: $22,598
  • Payback Period: 10.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Vincennes

Find out what the average cost of a solar system is in Vincennes.

The average cost of a solar panel system in Vincennes is $3 per watt. The average solar panel system size in Vincennes is around 8.6 kilowatts, meaning a cost of about $16,152 for a solar installation, or $11,952 after the 30% federal solar tax credit is applied.

How much you pay can go higher or lower than the average in Vincennes depending on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. Even with the high initial cost, the average Vincennes homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the benefits of solar.

To get a free estimate from a top solar company in Vincennes, you can click the button below.

Solar savings over time in Vincennes

Year Return on Investment
1 years $-14,602
3 years $-11,502
5 years $-8,402
7 years $-5,302
9 years $-2,202
11 years $898
13 years $3,998
15 years $7,098
17 years $10,198
19 years $13,298
21 years $16,398
23 years $19,498
25 years $22,598

Top Solar Installers in Vincennes

Although you can install solar panels yourself, it involves extra energy and knowledge. That's why most people choose to hire a solar panel installer. Local solar installers can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.

You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:

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 Vincennes

Factors that Affect Solar Panel Costs in Vincennes

Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost 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

The size of the solar panel system you need to offset your energy usage, 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 nearly $2,680. There are many different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Vincennes homeowners decide to finance their solar panel systems to make going solar more affordable. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Vincennes, and each can charge different amounts for labor and equipment. 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 additional services like electric vehicle 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 $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 company you opt for will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:

  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
  • Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.

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 Vincennes, IN Solar Cost FAQs

What is the average cost of installing solar panels in Vincennes?

The average cost of solar panels in Vincennes is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in Vincennes?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Do solar panels increase your home value?

Solar panels 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 exact figures will vary, but most experts agree that installing solar panels in Vincennes is a worthwhile investment.

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home needs 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.

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