Solar Panel Cost Guide in Winchester, IN (Mar 2023)
- Winchester Solar Installation Cost: $16,603
- 25-Year Savings: $27,504
- Payback Period: 9.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Winchester
We go over average solar pricing in Winchester.
In Winchester, solar panels cost about 2.68 per watt on average. To account for the typical energy needs of the average home in Winchester, most homeowners require a 8.8-kilowatt system. Using the figure above, a solar installation costs about $16,603, or $23,742 before the federal solar tax credit of 30% is applied.
These figures are only averages, and your own solar costs will vary based on the amount of energy your home requires and what company you choose to go with. For most homeowners, the upfront investment in solar panels is worth paying. On average Winchester homeowners see about $19,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar company in Winchester for a quote for your home.
Solar savings over time in Winchester
| Year | Return on Investment |
|---|---|
| 1 years | $-14,838 |
| 3 years | $-11,310 |
| 5 years | $-7,781 |
| 7 years | $-4,253 |
| 9 years | $-724 |
| 11 years | $2,804 |
| 13 years | $6,333 |
| 15 years | $9,861 |
| 17 years | $13,390 |
| 19 years | $16,918 |
| 21 years | $20,447 |
| 23 years | $23,975 |
| 25 years | $27,504 |
Top Solar Installers in Winchester
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar company can make your switch to solar power much easier. The payback period on a solar system will vary based on factors like your roof configuration and energy usage, but going with a solar installer can shorten that period. Your provider will be able to help you identify incentives available in your area.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Winchester
Factors that Affect Solar Panel Costs in Winchester
There are several criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,680. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Winchester, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Winchester, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you select will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $18,188 | 9.8 years |
| 8 kW | $2.73 | $15,308 | $24,550 | 9.6 years |
| 10 kW | $2.68 | $18,760 | $31,063 | 9.4 years |
| 12 kW | $2.63 | $22,062 | $37,726 | 9.2 years |
| 14 kW | $2.57 | $25,213 | $44,539 | 9.0 years |
| 16 kW | $2.52 | $28,215 | $51,502 | 8.8 years |
| 18 kW | $2.47 | $31,067 | $58,615 | 8.7 years |
| 20 kW | $2.41 | $33,768 | $65,878 | 8.5 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 have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- 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 substantial role in the company you hire.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
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 Winchester, IN Solar Cost FAQs
What is the average cost of installing solar panels in Winchester?
This is a tough question to answer precisely, 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Winchester?
Solar panels aren't free in Winchester, 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.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Winchester is currently $85,500, so you could be looking at a value of about $3,506 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Winchester is a worthwhile investment.
How long do solar panels last in Winchester?
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.