Solar Panel Cost Guide in Fort Wayne, IN (2023 Update)
- Fort Wayne Solar Installation Cost: $16,846
- 25-Year Savings: $22,355
- Payback Period: 10.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Fort Wayne
We go over average solar pricing in Fort Wayne.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fort Wayne, the typical cost of solar panels is 2.68 per watt. To cover the typical energy needs of the average home in Fort Wayne, most homeowners require a 9.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,846, or $24,090 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Fort Wayne homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the significant upfront cost, the average Fort Wayne homeowner can save about $17,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar company in Fort Wayne that can help you get a more accurate cost estimate for your home.
Solar savings over time in Fort Wayne
| Year | Return on Investment |
|---|---|
| 1 years | $-15,278 |
| 3 years | $-12,142 |
| 5 years | $-9,006 |
| 7 years | $-5,870 |
| 9 years | $-2,734 |
| 11 years | $402 |
| 13 years | $3,538 |
| 15 years | $6,674 |
| 17 years | $9,811 |
| 19 years | $12,947 |
| 21 years | $16,083 |
| 23 years | $19,219 |
| 25 years | $22,355 |
Top Solar Installers in Fort Wayne
Although you can install solar panels by yourself, it requires extra energy and expertise. That's why almost all homeowners choose to go with a solar panel installer. Some solar companies, particularly local ones, can help you take advantage of incentives in Fort Wayne, optimizing your ROI.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our recommendations for providers in Fort Wayne:
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 Fort Wayne
Factors that Affect Solar Panel Costs in Fort Wayne
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Fort Wayne: 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 a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,680. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Fort Wayne, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can play a part in determining your pricing. Fort Wayne's solar companies all have different labor costs and add varying upcharges to 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 access to specific equipment options like Tesla Powerwall batteries or additional 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 | $14,494 | 11.2 years |
| 8 kW | $2.73 | $15,308 | $19,626 | 11.0 years |
| 10 kW | $2.68 | $18,760 | $24,908 | 10.7 years |
| 12 kW | $2.63 | $22,062 | $30,339 | 10.5 years |
| 14 kW | $2.57 | $25,213 | $35,921 | 10.3 years |
| 16 kW | $2.52 | $28,215 | $41,653 | 10.1 years |
| 18 kW | $2.47 | $31,067 | $47,535 | 9.9 years |
| 20 kW | $2.41 | $33,768 | $53,567 | 9.7 years |
How to Save on Solar Panels
The solar company you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Warranty: If you're concerned about the durability of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Fort Wayne, IN Solar Cost FAQs
How much does it cost to install solar panels in Fort Wayne?
The average cost of solar panels in Fort Wayne 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 kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Fort Wayne have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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.