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
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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:
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.
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.
EcoWatch's Vincennes, IN Solar Cost FAQs
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.