Solar Panel Cost Guide in Kokomo, IN (2023 Update)

  • Kokomo Solar Installation Cost: $16,640
  • 25-Year Savings: $24,115
  • Payback Period: 10.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated May 04, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Kokomo

Find out what the average cost of installing solar panels is in Kokomo.

Although the national average of solar panels is $2.66 per watt, solar panels in Kokomo generally cost about 2.68. Using this figure, a typical 8.9-kW system would cost about $16,640 before the 30% federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. Even with the large initial cost, the average Kokomo homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the benefits of solar.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Kokomo

Year Return on Investment
1 years $-15,010
3 years $-11,749
5 years $-8,489
7 years $-5,229
9 years $-1,968
11 years $1,292
13 years $4,553
15 years $7,813
17 years $11,073
19 years $14,334
21 years $17,594
23 years $20,855
25 years $24,115

Top Solar Installers in Kokomo

Although it's possible to install solar panels on your own, it takes extra energy and knowledge. Because of that, almost all homeowners choose a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you pick which one will be right for you.

Working with a licensed solar company can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Kokomo

Factors that Affect Solar Panel Costs in Kokomo

There are several factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

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 power your household uses, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Kokomo. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Kokomo, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Kokomo to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The remaining key 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 plenty of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.

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 $15,853 10.6 years
8 kW $2.73 $15,308 $21,438 10.4 years
10 kW $2.68 $18,760 $27,173 10.2 years
12 kW $2.63 $22,062 $33,057 10.0 years
14 kW $2.57 $25,213 $39,092 9.8 years
16 kW $2.52 $28,215 $45,277 9.6 years
18 kW $2.47 $31,067 $51,612 9.4 years
20 kW $2.41 $33,768 $58,097 9.2 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Different companies will have various brands and models of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
  • Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Kokomo, IN Solar Cost FAQs

How much does it cost to install solar panels in Kokomo?

This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Kokomo?

You can't get solar panels for free in Kokomo. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

How much can I save on energy bills after installing solar panels?

It is possible to erase your electricity bills with solar panels, but for most homeowners in Kokomo, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and how much 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 account for 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.

Follow us