Solar Panel Cost Guide in Mishawaka, IN (2024 Update)
- Mishawaka Solar Installation Cost: $25,950
- 25-Year Savings: $25,057
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Mishawaka
Find out what the average cost of solar panel installation is in Mishawaka.
While the national average of solar panels is $2.66 per watt, solar panels in Mishawaka generally cost around 4.To account for the typical energy usage of the average home in Mishawaka, most homeowners require a 9.0-kilowatt system. Using the figure above, a solar installation costs about $25,950, or $37,108 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more.With typical savings of about $18,000 on power bills over 20 years, many homeowners in Mishawaka find installing solar panels has a decent ROI.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Mishawaka
| Year | Return on Investment |
|---|---|
| 1 years | $-24,391 |
| 3 years | $-21,274 |
| 5 years | $-18,156 |
| 7 years | $-15,038 |
| 9 years | $-11,920 |
| 11 years | $-8,803 |
| 13 years | $-5,685 |
| 15 years | $-2,567 |
| 17 years | $551 |
| 19 years | $3,668 |
| 21 years | $6,786 |
| 23 years | $9,904 |
| 25 years | $13,022 |
Top Solar Installers in Mishawaka
Putting up solar panels by yourself can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. Plus, if you aren’t sure what brand of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Mishawaka
Factors that Affect Solar Panel Costs in Mishawaka
For many Mishawaka homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Mishawaka, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Mishawaka, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $4,100 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Mishawaka, 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 solar panels out of pocket is out of reach, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect the cost. Mishawaka’s solar companies all have different labor costs and add varying upcharges to equipment. 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 with an above-average cost. It’s best to do some research and find a company that has the products, warranties and services you’re looking for 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 | $4.26 | $17,909 | $9,975 | 16.1 years |
| 8 kW | $4.18 | $23,419 | $13,759 | 15.7 years |
| 10 kW | $4.10 | $28,700 | $17,772 | 15.4 years |
| 12 kW | $4.02 | $33,751 | $22,016 | 15.1 years |
| 14 kW | $3.94 | $38,573 | $26,488 | 14.8 years |
| 16 kW | $3.85 | $43,165 | $31,191 | 14.5 years |
| 18 kW | $3.77 | $47,527 | $36,123 | 14.2 years |
| 20 kW | $3.69 | $51,660 | $41,285 | 13.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Read the contract terms closely to make sure you understand the overall cost, completion timeline rebates and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Mishawaka, IN Solar Cost FAQs
How much does it cost to install solar panels in Mishawaka?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than 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 goals 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.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $929.45 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.