Solar Panel Cost Guide in Granger, IN (2023 Update)
- Granger Solar Installation Cost: $16,959
- 25-Year Savings: $24,665
- Payback Period: 10.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Granger
We break down average solar pricing in Granger.
The national average cost of solar panels is $2.66 per watt, but in Granger it's 2.68 per watt. Since a 9.0-kW system is needed to cover the energy costs of a typical home in Granger, the average price of going solar will be about $16,959 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar panels you want, your solar contractor and more. But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on power bills.
Click the button below to get connected to a top solar panel company in your area for a custom quote.
Solar savings over time in Granger
| Year | Return on Investment |
|---|---|
| 1 years | $-15,294 |
| 3 years | $-11,964 |
| 5 years | $-8,634 |
| 7 years | $-5,304 |
| 9 years | $-1,974 |
| 11 years | $1,356 |
| 13 years | $4,685 |
| 15 years | $8,015 |
| 17 years | $11,345 |
| 19 years | $14,675 |
| 21 years | $18,005 |
| 23 years | $21,335 |
| 25 years | $24,665 |
Top Solar Installers in Granger
Putting up solar panels yourself can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a vetted 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
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 Granger
Factors that Affect Solar Panel Costs in Granger
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Granger: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panels 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 that have higher efficiency or power production use 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. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Granger, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Granger, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect the cost. Granger's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Granger are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $2.79 | $11,706 | $15,914 | 10.6 years |
| 8 kW | $2.73 | $15,308 | $21,519 | 10.4 years |
| 10 kW | $2.68 | $18,760 | $27,274 | 10.2 years |
| 12 kW | $2.63 | $22,062 | $33,179 | 10.0 years |
| 14 kW | $2.57 | $25,213 | $39,235 | 9.8 years |
| 16 kW | $2.52 | $28,215 | $45,440 | 9.6 years |
| 18 kW | $2.47 | $31,067 | $51,795 | 9.4 years |
| 20 kW | $2.41 | $33,768 | $58,301 | 9.2 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Granger, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- 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.
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 Granger, IN Solar Cost FAQs
How much does it cost to install solar panels in Granger?
The average cost of solar panels in Granger 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Granger?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Granger is currently $172,721, which means you can look forward to a value of about $7,082 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Granger is a rewarding investment.
How many solar panels do I need to power 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.