Solar Panel Cost Guide in Kokomo, IN (2025 Update)
- Kokomo Solar Installation Cost: $25,465
- 25-Year Savings: $24,110
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Kokomo
We go over average solar pricing in Kokomo.
In Kokomo, solar panels cost about 4 per watt on average.Using this figure, a typical 8.9-kW system would cost about $25,465 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.But, once you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $17,000 over 20 years on utility bills.
To receive a free quote from a pre-vetted solar installer in Kokomo, you can click the button below.
Solar savings over time in Kokomo
| Year | Return on Investment |
|---|---|
| 1 years | $-24,139 |
| 3 years | $-21,488 |
| 5 years | $-18,837 |
| 7 years | $-16,186 |
| 9 years | $-13,534 |
| 11 years | $-10,883 |
| 13 years | $-8,232 |
| 15 years | $-5,581 |
| 17 years | $-2,930 |
| 19 years | $-278 |
| 21 years | $2,373 |
| 23 years | $5,024 |
| 25 years | $7,675 |
Top Solar Installers in Kokomo
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be hard. Another perk of working with a solar company is that they can help you make the most of your investment by cutting back on future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our suggestions for providers in Kokomo:
See all of the solar companies in Kokomo
Factors that Affect Solar Panel Costs in Kokomo
The cost of installing a solar system in Kokomo can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Kokomo, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $4,100 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Kokomo have solar loans, which reduce your upfront costs of installing solar.It’s wise to add 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
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Kokomo, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Kokomo have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $4.26 | $17,909 | $9,651 | 16.2 years |
| 8 kW | $4.18 | $23,419 | $13,327 | 15.9 years |
| 10 kW | $4.10 | $28,700 | $17,233 | 15.6 years |
| 12 kW | $4.02 | $33,751 | $21,368 | 15.3 years |
| 14 kW | $3.94 | $38,573 | $25,733 | 15.0 years |
| 16 kW | $3.85 | $43,165 | $30,327 | 14.7 years |
| 18 kW | $3.77 | $47,527 | $35,151 | 14.4 years |
| 20 kW | $3.69 | $51,660 | $40,205 | 14.1 years |
How to Save on Solar Panels
There are many companies to choose from in Kokomo, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which company you should opt for, since different companies provide different panels.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
EcoWatch's Kokomo, IN Solar Cost FAQs
How much does it cost to install solar panels in Kokomo?
The average cost of solar panels in Kokomo is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on things such as 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 Kokomo?
Leasing solar panels can be an attractive choice, as it commonly 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 maximize your savings.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $918.65 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.