Solar Panel Cost Guide in Chesterton, IN (2023 Update)
- Chesterton Solar Installation Cost: $16,771
- 25-Year Savings: $29,364
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Chesterton
Find out what the average cost of solar panels are in Chesterton.
The national average cost of solar panels is $2.66 per watt, but in Chesterton it's 2.68 per watt. Because a 8.9-kW system is needed to cover the energy costs of a typical home in Chesterton, the average price of going solar will be about $16,771 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Chesterton homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $20,000 on utility bills over 20 years, many homeowners in Chesterton find going solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Chesterton that can help you get a more accurate cost estimate for your home.
Solar savings over time in Chesterton
| Year | Return on Investment |
|---|---|
| 1 years | $-14,926 |
| 3 years | $-11,235 |
| 5 years | $-7,544 |
| 7 years | $-3,853 |
| 9 years | $-163 |
| 11 years | $3,528 |
| 13 years | $7,219 |
| 15 years | $10,910 |
| 17 years | $14,601 |
| 19 years | $18,292 |
| 21 years | $21,982 |
| 23 years | $25,673 |
| 25 years | $29,364 |
Top Solar Installers in Chesterton
When making the switch to solar, many homeowners prefer to go with a solar company since installing solar panels yourself can be a challenging project. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Chesterton
Factors that Affect Solar Panel Costs in Chesterton
For many Chesterton homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Chesterton, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,680 per kilowatt in Chesterton. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Chesterton, 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
Many homeowners find the average cost of solar in Chesterton to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time due to interest. However, the interest on solar loans also adds to your total costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can impact how much you pay. Chesterton's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $19,271 | 9.4 years |
| 8 kW | $2.73 | $15,308 | $25,994 | 9.3 years |
| 10 kW | $2.68 | $18,760 | $32,868 | 9.1 years |
| 12 kW | $2.63 | $22,062 | $39,892 | 8.9 years |
| 14 kW | $2.57 | $25,213 | $47,066 | 8.7 years |
| 16 kW | $2.52 | $28,215 | $54,390 | 8.5 years |
| 18 kW | $2.47 | $31,067 | $61,864 | 8.4 years |
| 20 kW | $2.41 | $33,768 | $69,488 | 8.2 years |
How to Save on Solar Panels
There are a lot of companies available in Chesterton, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Chesterton, IN Solar Cost FAQs
How much does it cost to install solar panels in Chesterton?
The average cost of solar panels in Chesterton 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Chesterton?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 financial benefits from going solar.
Is it worth going solar in Chesterton?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.