Solar Panel Cost Guide in Lakes of the Four Seasons, IN (2024 Update)
- Lakes of the Four Seasons Solar Installation Cost: $25,653
- 25-Year Savings: $28,524
- Payback Period: 14.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Lakes of the Four Seasons
Let’s take a look at the average cost of solar panels in Lakes of the Four Seasons.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lakes of the Four Seasons, the average cost of a solar system is 4 per watt.To account for the typical energy usage of the average home in Lakes of the Four Seasons, most homeowners require a 8.9-kilowatt system. Using the figure above, a solar installation costs about $25,653, or $36,684 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 panel system could cost. The true cost of making the switch to solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with.But, after you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $19,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lakes of the Four Seasons
| Year | Return on Investment |
|---|---|
| 1 years | $-23,933 |
| 3 years | $-20,494 |
| 5 years | $-17,054 |
| 7 years | $-13,615 |
| 9 years | $-10,175 |
| 11 years | $-6,736 |
| 13 years | $-3,296 |
| 15 years | $143 |
| 17 years | $3,582 |
| 19 years | $7,022 |
| 21 years | $10,461 |
| 23 years | $13,901 |
| 25 years | $17,340 |
Top Solar Installers in Lakes of the Four Seasons
Many homeowners decide to use a solar panel installer since trying to install solar panels yourself can be hard. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Lakes of the Four Seasons:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Lakes of the Four Seasons
Factors that Affect Solar Panel Costs in Lakes of the Four Seasons
The cost of installing a solar system in Lakes of the Four Seasons can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant 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 consumes, the larger your system will likely need to be. You can expect to pay around $4,100 per kilowatt in Lakes of the Four Seasons.There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Lakes of the Four Seasons, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower 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 clean energy solutions in Lakes of the Four Seasons, you’ll have many options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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 | $12,494 | 14.7 years |
| 8 kW | $4.18 | $23,419 | $17,118 | 14.4 years |
| 10 kW | $4.10 | $28,700 | $21,972 | 14.2 years |
| 12 kW | $4.02 | $33,751 | $27,055 | 13.9 years |
| 14 kW | $3.94 | $38,573 | $32,367 | 13.6 years |
| 16 kW | $3.85 | $43,165 | $37,910 | 13.3 years |
| 18 kW | $3.77 | $47,527 | $43,682 | 13.0 years |
| 20 kW | $3.69 | $51,660 | $49,683 | 12.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lakes of the Four Seasons, IN Solar Cost FAQs
How much does it cost to install solar panels in Lakes of the Four Seasons?
The average cost of solar panels in Lakes of the Four Seasons 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 stuff like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.
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.