Solar Panel Cost Guide in Goshen, IN (2024 Update)
- Goshen Solar Installation Cost: $25,934
- 25-Year Savings: $26,240
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Goshen
We go over average solar pricing in Goshen.
The national average cost of solar panels is $2.66 per watt, but in Goshen it’s 4 per watt.The average solar panel system size in Goshen is around 9.0 kilowatts, meaning a cost of about $25,934 for a solar installation, or $37,086 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Goshen depending on several factors, such as the brand of solar panels you choose and the solar company you hire.Despite the high upfront cost, the average Goshen homeowner can save around $18,000 on their energy bills over 20 years, which is one of the perks of solar.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Goshen
| Year | Return on Investment |
|---|---|
| 1 years | $-24,291 |
| 3 years | $-21,005 |
| 5 years | $-17,719 |
| 7 years | $-14,433 |
| 9 years | $-11,147 |
| 11 years | $-7,861 |
| 13 years | $-4,575 |
| 15 years | $-1,289 |
| 17 years | $1,997 |
| 19 years | $5,283 |
| 21 years | $8,569 |
| 23 years | $11,855 |
| 25 years | $15,141 |
Top Solar Installers in Goshen
Many homeowners decide to use a solar panel installer since installing solar panels yourself can be hard. The expertise that solar companies provide can be invaluable as well, especially if you don’t quite know what kind of solar equipment you need.
If you’d like to go solar but still aren’t certain which solar system installer to go with, here are our recommendations for providers nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Goshen
Factors that Affect Solar Panel Costs in Goshen
There are a number of criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $4,100 per kilowatt in Goshen.The model of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Goshen, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.While solar loans make switching to solar energy more accessible for Goshen homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Goshen is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets.Additionally, some companies in Goshen know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $10,770 | 15.6 years |
| 8 kW | $4.18 | $23,419 | $14,819 | 15.3 years |
| 10 kW | $4.10 | $28,700 | $19,097 | 15.0 years |
| 12 kW | $4.02 | $33,751 | $23,606 | 14.7 years |
| 14 kW | $3.94 | $38,573 | $28,344 | 14.4 years |
| 16 kW | $3.85 | $43,165 | $33,311 | 14.1 years |
| 18 kW | $3.77 | $47,527 | $38,508 | 13.8 years |
| 20 kW | $3.69 | $51,660 | $43,935 | 13.5 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- 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 aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Goshen, IN Solar Cost FAQs
How much does it cost to install solar panels in Goshen?
The average cost of solar panels in Goshen is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Goshen?
Leasing solar panels can be an attractive choice, because it typically 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 get the most savings.
Does Goshen have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation 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 many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.