Solar Panel Cost Guide in Griffith, IN (2025 Update)
- Griffith Solar Installation Cost: $25,659
- 25-Year Savings: $31,050
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Griffith
Find out what the average cost of solar panel installation is in Griffith.
Although the national average of solar panels is $2.66 per watt, solar panels in Griffith generally cost about 4.To account for the typical energy usage of the average home in Griffith, most homeowners require a 8.9-kilowatt system. Using the figure above, a solar installation costs around $25,659, or $36,692 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what company you go with.But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $20,000 over 20 years on power bills.
You can click the button below to get connected with a top solar company in Griffith that can help you get a more accurate cost estimate for your home.
Solar savings over time in Griffith
| Year | Return on Investment |
|---|---|
| 1 years | $-23,940 |
| 3 years | $-20,500 |
| 5 years | $-17,061 |
| 7 years | $-13,621 |
| 9 years | $-10,182 |
| 11 years | $-6,742 |
| 13 years | $-3,303 |
| 15 years | $137 |
| 17 years | $3,576 |
| 19 years | $7,015 |
| 21 years | $10,455 |
| 23 years | $13,894 |
| 25 years | $17,334 |
Top Solar Installers in Griffith
When making the switch to solar, many homeowners decide to use a solar installation company since installing a solar system yourself can be a challenging project. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for your home.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Griffith:
See all of the solar companies in Griffith
Factors that Affect Solar Panel Costs in Griffith
There are a number of criteria that can determine your solar panel 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 energy your household uses, the larger your system will likely need to be. You can expect to pay about $4,100 per kilowatt in Griffith.The model of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about 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 challenging. Solar loans are available from most installers in Griffith, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.Though solar loans make adopting solar energy more accessible for Griffith homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in Griffith, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $14,185 | 14.0 years |
| 8 kW | $4.18 | $23,419 | $19,372 | 13.7 years |
| 10 kW | $4.10 | $28,700 | $24,789 | 13.4 years |
| 12 kW | $4.02 | $33,751 | $30,435 | 13.1 years |
| 14 kW | $3.94 | $38,573 | $36,312 | 12.9 years |
| 16 kW | $3.85 | $43,165 | $42,417 | 12.6 years |
| 18 kW | $3.77 | $47,527 | $48,753 | 12.3 years |
| 20 kW | $3.69 | $51,660 | $55,318 | 12.1 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the kinds 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:
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the completion timeline.
EcoWatch's Griffith, IN Solar Cost FAQs
How much does it cost to install solar panels in Griffith?
The average cost of solar panels in Griffith 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a key 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.
Is going solar worth it?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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.