Solar Panel Cost Guide in Mishawaka, IN (2023 Update)
- Mishawaka Solar Installation Cost: $16,963
- 25-Year Savings: $25,057
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mishawaka
Find out how much it might cost to switch to solar power in Mishawaka.
In Mishawaka, solar panels cost about 2.68 per watt on average. The average Mishawaka homeowner needs a 9.0-kilowatt system, which would cost about $16,959 with the federal tax credit, or $24,251 before the 30% 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 consumption, the type of solar panels you choose, your solar contractor and more. But, once you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $18,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar company in your area for a personalized estimate.
Solar savings over time in Mishawaka
| Year | Return on Investment |
|---|---|
| 1 years | $-16,822 |
| 3 years | $-16,542 |
| 5 years | $-16,262 |
| 7 years | $-15,982 |
| 9 years | $-15,702 |
| 11 years | $-15,422 |
| 13 years | $-15,142 |
| 15 years | $-14,861 |
| 17 years | $-14,581 |
| 19 years | $-14,301 |
| 21 years | $-14,021 |
| 23 years | $-13,741 |
| 25 years | $-13,461 |
Top Solar Installers in Mishawaka
Although it's possible to install solar panels by yourself, it takes extra energy and know-how. That's one of the reasons most homeowners choose a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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
Even though the average cost of a solar system in Mishawaka is $16,959, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,680. The kind of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Mishawaka homeowners choose to finance their solar panel systems to make paying for solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Mishawaka, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $2.79 | $11,706 | $16,177 | 10.5 years |
| 8 kW | $2.73 | $15,308 | $21,870 | 10.3 years |
| 10 kW | $2.68 | $18,760 | $27,712 | 10.1 years |
| 12 kW | $2.63 | $22,062 | $33,705 | 9.9 years |
| 14 kW | $2.57 | $25,213 | $39,848 | 9.7 years |
| 16 kW | $2.52 | $28,215 | $46,141 | 9.5 years |
| 18 kW | $2.47 | $31,067 | $52,584 | 9.3 years |
| 20 kW | $2.41 | $33,768 | $59,177 | 9.1 years |
How to Save on Solar Panels
The solar company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Warranty: If you care about the durability of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
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
What is the average cost of installing solar panels in Mishawaka?
This is a tough question to answer exactly, because the cost depends on a variety of 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. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Mishawaka?
You can't get solar panels for free in Mishawaka. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Does Mishawaka have a net metering program?
Most states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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 install between 20 and 35 panels to cover 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.