Solar Panel Cost Guide in Garrett, IN (2023 Update)
- Garrett Solar Installation Cost: $16,864
- 25-Year Savings: $24,009
- Payback Period: 10.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Garrett
Find out what the average cost of installing solar panels is in Garrett.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Garrett, the average cost of solar panels is 2.68 per watt. The average solar panel system size in Garrett is around 9.0 kilowatts, meaning a cost of about $16,865 for a solar installation, or $24,117 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will differ based on your specific situation and what company you want to go with. Even with the significant upfront cost, the average Garrett homeowner can save around $17,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a reputable solar panel company in your area for a custom quote.
Solar savings over time in Garrett
| Year | Return on Investment |
|---|---|
| 1 years | $-15,247 |
| 3 years | $-12,012 |
| 5 years | $-8,777 |
| 7 years | $-5,542 |
| 9 years | $-2,308 |
| 11 years | $927 |
| 13 years | $4,162 |
| 15 years | $7,397 |
| 17 years | $10,632 |
| 19 years | $13,867 |
| 21 years | $17,102 |
| 23 years | $20,336 |
| 25 years | $23,571 |
Top Solar Installers in Garrett
Although you can install solar panels yourself, it involves extra energy and know-how. That's one of the reasons most homeowners choose a solar panel installer. Plus, if you're unsure what type of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Garrett:
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 Garrett
Factors that Affect Solar Panel Costs in Garrett
For many Garrett homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Garrett, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Garrett, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,680 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Garrett homeowners opt to finance their solar panel systems to make going solar more affordable. While solar loans make adopting solar energy more accessible for Garrett homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you select will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The company's size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $15,574 | 10.7 years |
| 8 kW | $2.73 | $15,308 | $21,066 | 10.5 years |
| 10 kW | $2.68 | $18,760 | $26,707 | 10.3 years |
| 12 kW | $2.63 | $22,062 | $32,499 | 10.1 years |
| 14 kW | $2.57 | $25,213 | $38,441 | 9.9 years |
| 16 kW | $2.52 | $28,215 | $44,533 | 9.7 years |
| 18 kW | $2.47 | $31,067 | $50,774 | 9.5 years |
| 20 kW | $2.41 | $33,768 | $57,167 | 9.3 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Garrett, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar installer. Make sure you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: The model of solar panel you need plays a part in which installer you should go with, since different companies have access to different panels.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
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 Garrett, IN Solar Cost FAQs
How much does it cost to install solar panels in Garrett?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Garrett is currently $132,039, which means you can expect a value of about $5,414 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Garrett is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.