Solar Panel Cost Guide in Fort Wayne, IN (2024 Update)
- Fort Wayne Solar Installation Cost: $25,765
- 25-Year Savings: $22,360
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Fort Wayne
Find out what the average cost of solar panels are in Fort Wayne.
In Fort Wayne, solar panels cost about 4 per watt on average.Using this figure, a typical 9.0-kW system would cost about $25,765 before the 0 federal solar tax credit is applied.
The actual price you pay can be above or below the average in Fort Wayne based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.For many homeowners, the upfront investment in solar power is worth paying. On average Fort Wayne homeowners see about $17,000 in savings on electricity bills over 20 years.
To get a free estimate from a vetted solar company in Fort Wayne, you can click the button below.
Solar savings over time in Fort Wayne
| Year | Return on Investment |
|---|---|
| 1 years | $-24,147 |
| 3 years | $-20,912 |
| 5 years | $-17,677 |
| 7 years | $-14,443 |
| 9 years | $-11,208 |
| 11 years | $-7,973 |
| 13 years | $-4,738 |
| 15 years | $-1,503 |
| 17 years | $1,732 |
| 19 years | $4,967 |
| 21 years | $8,201 |
| 23 years | $11,436 |
| 25 years | $14,671 |
Top Solar Installers in Fort Wayne
Installing solar panels yourself can be a time-consuming task, which is why hiring a solar installer is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar, opting for a solar installer can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Fort Wayne
Factors that Affect Solar Panel Costs in Fort Wayne
Though the average cost of a solar system in Fort Wayne is $25,765, your actual cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $4,100. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable choice because they decrease 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 higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar panel installer you choose will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also fit into 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 | $8,292 | 17.1 years |
| 8 kW | $4.18 | $23,419 | $11,515 | 16.8 years |
| 10 kW | $4.10 | $28,700 | $14,968 | 16.4 years |
| 12 kW | $4.02 | $33,751 | $18,650 | 16.1 years |
| 14 kW | $3.94 | $38,573 | $22,562 | 15.8 years |
| 16 kW | $3.85 | $43,165 | $26,703 | 15.4 years |
| 18 kW | $3.77 | $47,527 | $31,074 | 15.1 years |
| 20 kW | $3.69 | $51,660 | $35,675 | 14.8 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining 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 some important things you should take into account, including:
- Warranty: If you’re worried about the endurance of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Read the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Fort Wayne, IN Solar Cost FAQs
What is the average cost of installing solar panels in Fort Wayne?
This is a tough question to answer exactly, because the cost depends on a few different 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Fort Wayne?
Leasing solar panels can be an attractive choice, as it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can you sell solar power back to the grid in Fort Wayne?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.