Solar Panel Cost Guide in Crown Point, IN (2023 Update)
- Crown Point Solar Installation Cost: $16,771
- 25-Year Savings: $28,521
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Crown Point
Find out what the average cost of solar panels are in Crown Point.
The average cost of a solar panel system in Crown Point is 2.68 per watt. Because a 8.9-kW system is needed to cover the energy usage of a typical home in Crown Point, 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 a solar panel system. The actual cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy consumption and what company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Crown Point can save about $19,000 on their power bills over 20 years.
Click the button below to get connected to a top solar company in Crown Point for a customized quote.
Solar savings over time in Crown Point
| Year | Return on Investment |
|---|---|
| 1 years | $-14,960 |
| 3 years | $-11,336 |
| 5 years | $-7,713 |
| 7 years | $-4,090 |
| 9 years | $-466 |
| 11 years | $3,157 |
| 13 years | $6,780 |
| 15 years | $10,404 |
| 17 years | $14,027 |
| 19 years | $17,650 |
| 21 years | $21,274 |
| 23 years | $24,897 |
| 25 years | $28,521 |
Top Solar Installers in Crown Point
Trying to install solar panels on your own can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.
There are various licensed solar professionals that can take care of your solar installation project. 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 Crown Point
Factors that Affect Solar Panel Costs in Crown Point
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Crown Point: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,680. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Crown Point, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $18,689 | 9.6 years |
| 8 kW | $2.73 | $15,308 | $25,219 | 9.4 years |
| 10 kW | $2.68 | $18,760 | $31,899 | 9.3 years |
| 12 kW | $2.63 | $22,062 | $38,729 | 9.1 years |
| 14 kW | $2.57 | $25,213 | $45,709 | 8.9 years |
| 16 kW | $2.52 | $28,215 | $52,839 | 8.7 years |
| 18 kW | $2.47 | $31,067 | $60,119 | 8.5 years |
| 20 kW | $2.41 | $33,768 | $67,550 | 8.3 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two 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 satisfied reviews from past customers.
- Installation Process: When going solar, it's important to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the completion timeline.
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 Crown Point, IN Solar Cost FAQs
How much does it cost to install solar panels in Crown Point?
The average cost of solar panels in Crown Point is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Crown Point?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Crown Point?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.