Solar Panel Cost Guide in Gary, IN (Mar 2023)
- Gary Solar Installation Cost: $16,771
- 25-Year Savings: $31,051
- Payback Period: 8.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gary
Find out what the average cost of installing solar panels is in Gary.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Gary, the typical cost of solar panels is 2.68 per watt. Because a 8.9-kW system is needed to cover the energy costs of a typical home in Gary, the average price of going solar will be about $16,771 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar panels you want, your solar contractor and more. With average savings of about $20,000 on electricity bills over 20 years, many homeowners in Gary find installing solar panels can pay off big.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Gary
| Year | Return on Investment |
|---|---|
| 1 years | $-14,859 |
| 3 years | $-11,033 |
| 5 years | $-7,207 |
| 7 years | $-3,381 |
| 9 years | $445 |
| 11 years | $4,270 |
| 13 years | $8,096 |
| 15 years | $11,922 |
| 17 years | $15,748 |
| 19 years | $19,573 |
| 21 years | $23,399 |
| 23 years | $27,225 |
| 25 years | $31,051 |
Top Solar Installers in Gary
Many homeowners choose to hire a solar panel company since installing solar panels by yourself can be challenging. The expertise that solar installers offer can be helpful as well, particularly if you don't quite know what kind of solar equipment you need.
There are several licensed solar professionals that can install solar panels for you. 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 Gary
Factors that Affect Solar Panel Costs in Gary
The cost of installing a solar system in Gary can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Gary, one of the most important 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 consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,680 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Gary average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Gary homeowners choose to finance their solar panel systems to make going solar more affordable. It's a good idea to factor 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Gary, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $20,387 | 9.1 years |
| 8 kW | $2.73 | $15,308 | $27,483 | 8.9 years |
| 10 kW | $2.68 | $18,760 | $34,729 | 8.8 years |
| 12 kW | $2.63 | $22,062 | $42,125 | 8.6 years |
| 14 kW | $2.57 | $25,213 | $49,671 | 8.4 years |
| 16 kW | $2.52 | $28,215 | $57,367 | 8.2 years |
| 18 kW | $2.47 | $31,067 | $65,213 | 8.1 years |
| 20 kW | $2.41 | $33,768 | $73,210 | 7.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of 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 good reviews from previous customers.
- Contract: Before signing a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: If you're concerned about the endurance of your solar system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
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 Gary, IN Solar Cost FAQs
What is the average cost of installing solar panels in Gary?
The average cost of solar panels in Gary is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Gary?
You can't get solar panels for free in Gary. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will solar panels impact my property value?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 get 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.