Solar Panel Cost Guide in Cedar Lake, IN (2023 Update)
- Cedar Lake Solar Installation Cost: $16,772
- 25-Year Savings: $29,785
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cedar Lake
We go over average solar pricing in Cedar Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cedar Lake, the typical cost of a solar system is 2.68 per watt. Since a 8.9-kW system is needed to cover the energy consumption of a typical home in Cedar Lake, the average price of going solar will be about $16,771 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what company you go with. With average savings of about $20,000 on utility bills over 20 years, many homeowners in Cedar Lake find investing in solar can pay off big.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cedar Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-15,053 |
| 3 years | $-11,613 |
| 5 years | $-8,174 |
| 7 years | $-4,734 |
| 9 years | $-1,295 |
| 11 years | $2,145 |
| 13 years | $5,584 |
| 15 years | $9,023 |
| 17 years | $12,463 |
| 19 years | $15,902 |
| 21 years | $19,342 |
| 23 years | $22,781 |
| 25 years | $26,221 |
Top Solar Installers in Cedar Lake
When going solar, many homeowners opt to use a solar installer since overseeing your solar installation yourself can be a challenging project. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Cedar Lake:
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 Cedar Lake
Factors that Affect Solar Panel Costs in Cedar Lake
For many Cedar Lake homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Cedar Lake, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Cedar Lake homeowners choose to finance their solar panel systems to make going solar more affordable. Although solar loans make going solar more accessible for Cedar Lake homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in Cedar Lake, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $19,538 | 9.4 years |
| 8 kW | $2.73 | $15,308 | $26,351 | 9.2 years |
| 10 kW | $2.68 | $18,760 | $33,314 | 9.0 years |
| 12 kW | $2.63 | $22,062 | $40,427 | 8.8 years |
| 14 kW | $2.57 | $25,213 | $47,690 | 8.6 years |
| 16 kW | $2.52 | $28,215 | $55,103 | 8.5 years |
| 18 kW | $2.47 | $31,067 | $62,666 | 8.3 years |
| 20 kW | $2.41 | $33,768 | $70,380 | 8.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: When reading over your solar installer'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 part breaking or if the company goes out of business.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Warranty: If you're worried about the longevity of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: The type of solar panel you want plays a role in which company you should go with, since different companies provide different panels.
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 Cedar Lake, IN Solar Cost FAQs
What is the average cost of installing solar panels in Cedar Lake?
The average cost of solar panels in Cedar Lake 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 things like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Cedar Lake?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 amount 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.