Solar Panel Cost Guide in Chesterton, IN (2024 Update)
- Chesterton Solar Installation Cost: $25,646
- 25-Year Savings: $29,371
- Payback Period: 13.9 Years
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Average Cost of Solar Panels in Chesterton
We break down average solar pricing in Chesterton.
The average cost of a solar system in Chesterton is 4 per watt.Using this figure, a typical 8.9-kW system would cost about $25,646 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in Chesterton can save around $20,000 on their energy bills over 20 years.
To receive a free quote from a vetted solar installation company in Chesterton, you can click the button below.
Solar savings over time in Chesterton
Year | Return on Investment |
---|---|
1 years | $-23,927 |
3 years | $-20,487 |
5 years | $-17,048 |
7 years | $-13,608 |
9 years | $-10,169 |
11 years | $-6,729 |
13 years | $-3,290 |
15 years | $149 |
17 years | $3,589 |
19 years | $7,028 |
21 years | $10,468 |
23 years | $13,907 |
25 years | $17,347 |
Top Solar Installers in Chesterton
Installing solar panels yourself can be a difficult task, which is why using a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be valuable as well, particularly if you aren’t sure what kind of solar equipment you need.
If you're searching for a solar installer in Chesterton, we've organized a list of our top suggestions here:
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
There are many factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important 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 power your household consumes, the larger your system will likely need to be. You can expect to spend about $4,100 per kilowatt in Chesterton.Some solar panel brands — like Maxeon from SunPower — cost more 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over five to seven years on average.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Chesterton is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services at different costs.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that has the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $4.26 | $17,909 | $13,068 | 14.5 years |
8 kW | $4.18 | $23,419 | $17,883 | 14.2 years |
10 kW | $4.10 | $28,700 | $22,928 | 13.9 years |
12 kW | $4.02 | $33,751 | $28,203 | 13.6 years |
14 kW | $3.94 | $38,573 | $33,707 | 13.3 years |
16 kW | $3.85 | $43,165 | $39,440 | 13.1 years |
18 kW | $3.77 | $47,527 | $45,403 | 12.8 years |
20 kW | $3.69 | $51,660 | $51,596 | 12.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose greatly affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
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
What is the average cost of installing solar panels in Chesterton?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Chesterton?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels significantly reduce my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Chesterton, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.