Solar Panel Cost Guide in Griffith, IN (2023 Update)
- Griffith Solar Installation Cost: $16,772
- 25-Year Savings: $31,050
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Griffith
Find out what the average cost of installing solar panels is in Griffith.
In Griffith, solar panels cost about 2.68 per watt on average. Since a 8.9-kW system is needed to cover the energy costs of a typical home in Griffith, the average price of going solar will be about $16,771 after claiming the federal solar tax credit of 30%.
How much you pay can be above or below the average in Griffith depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire. Despite the large upfront cost, the average Griffith homeowner can save about $20,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Griffith
| Year | Return on Investment |
|---|---|
| 1 years | $-16,613 |
| 3 years | $-16,294 |
| 5 years | $-15,975 |
| 7 years | $-15,657 |
| 9 years | $-15,338 |
| 11 years | $-15,019 |
| 13 years | $-14,700 |
| 15 years | $-14,381 |
| 17 years | $-14,062 |
| 19 years | $-13,744 |
| 21 years | $-13,425 |
| 23 years | $-13,106 |
| 25 years | $-12,787 |
Top Solar Installers in Griffith
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Hiring a solar panel installer can make switching to solar power much easier. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for you.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Griffith
Factors that Affect Solar Panel Costs in Griffith
The cost of installing a solar system in Griffith can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels 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 pay around $2,680 per kilowatt in Griffith. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Griffith, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Griffith homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your overall costs, so it's important to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a part in determining the cost. Griffith's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Griffith have more knowledge 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 | $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
There are a lot of companies to choose from in Griffith, 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:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two 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 positive reviews from previous customers.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
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 Griffith, IN Solar Cost FAQs
What is the average cost of installing solar panels in Griffith?
This is a tough question to answer exactly, because the cost depends on many 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Griffith?
You can't get solar panels for free in Griffith. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Griffith?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Griffith?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.