Solar Panel Cost Guide in Merrillville, IN (Feb 2023)
- Merrillville Solar Installation Cost: $16,771
- 25-Year Savings: $29,786
- Payback Period: 9.0 Years
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Top Solar Installers in Merrillville
Many homeowners choose to use a solar installer since trying to install solar panels by yourself can be a lot of work. Companies can also have access to a large variety of the best solar panels and help you pick which one will be right for your home.
If you'd like to go solar but still aren't certain which solar company to go with, here are our suggestions for providers nearby:
See all of the solar companies in Merrillville
Factors that Affect Solar Panel Costs in Merrillville
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Merrillville: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
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 power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Merrillville. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Merrillville, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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
If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Though solar loans make going solar more accessible for Merrillville homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Merrillville is the company you hire to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different costs. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you want and also fit into your budget.
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||$19,538||9.4 years|
|8 kW||$2.73||$15,308||$26,351||9.2 years|
|10 kW||$2.68||$18,760||$33,314||9.0 years|
|12 kW||$2.63||$22,062||$40,427||8.8 years|
|14 kW||$2.57||$25,213||$47,690||8.6 years|
|16 kW||$2.52||$28,215||$55,103||8.5 years|
|18 kW||$2.47||$31,067||$62,666||8.3 years|
|20 kW||$2.41||$33,768||$70,380||8.1 years|
How to Save on Solar Panels
There are many companies to choose from in Merrillville, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: If you're concerned about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
EcoWatch's Merrillville, IN Solar Cost FAQs
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.