Solar Panel Cost Guide in Michigan City, IN (2024 Update)
- Michigan City Solar Installation Cost: $25,814
- 25-Year Savings: $26,318
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Michigan City
Let’s have a look at the average cost of solar in Michigan City.
The average cost of a solar system in Michigan City is 4 per watt.To cover the typical energy needs of the average home in Michigan City, most homeowners require a 9.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $25,814, or $36,914 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 energy system could cost. The actual cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Michigan City find investing in solar can pay off big.
Click the button below to get connected to a vetted solar company in your area for a personalized estimate.
Solar savings over time in Michigan City
| Year | Return on Investment |
|---|---|
| 1 years | $-24,146 |
| 3 years | $-20,808 |
| 5 years | $-17,471 |
| 7 years | $-14,134 |
| 9 years | $-10,797 |
| 11 years | $-7,460 |
| 13 years | $-4,123 |
| 15 years | $-785 |
| 17 years | $2,552 |
| 19 years | $5,889 |
| 21 years | $9,226 |
| 23 years | $12,563 |
| 25 years | $15,900 |
Top Solar Installers in Michigan City
Trying to put up solar panels yourself can be a challenging project, which is why using a solar installer is a good option for many homeowners. The expertise that solar companies provide can be helpful as well, particularly if you aren’t sure what kind of solar equipment would be right for your home.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Michigan City:
Best National Provider
SunPower
- 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
- 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 Michigan City
Factors that Affect Solar Panel Costs in Michigan City
There are many factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of solar panels in Michigan City, one of the most important 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 consumption, which you can determine by looking at past energy bills. Your total cost can increase by around $4,100 for each additional kilowatt you need.The type of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Michigan City homeowners decide to finance their solar panel systems to offset upfront costs.When trying to figure 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 reduce the total interest paid over time.
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 Michigan City is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $10,903 | 15.5 years |
| 8 kW | $4.18 | $23,419 | $14,997 | 15.2 years |
| 10 kW | $4.10 | $28,700 | $19,320 | 14.9 years |
| 12 kW | $4.02 | $33,751 | $23,873 | 14.6 years |
| 14 kW | $3.94 | $38,573 | $28,655 | 14.3 years |
| 16 kW | $3.85 | $43,165 | $33,667 | 14.0 years |
| 18 kW | $3.77 | $47,527 | $38,909 | 13.7 years |
| 20 kW | $3.69 | $51,660 | $44,380 | 13.4 years |
How to Save on Solar Panels
There are numerous companies to choose from in Michigan City, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Installation Process: When making the switch to solar, it’s necessary to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
Best National Provider
SunPower
- 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
- 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 Michigan City, IN Solar Cost FAQs
How much does it cost to install solar panels in Michigan City?
The average cost of solar panels in Michigan City is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Michigan City?
A solar panel system isn’t free in Michigan City, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.