Solar Panel Cost Guide in Munster, IN (2024 Update)

  • Munster Solar Installation Cost: $25,659
  • 25-Year Savings: $31,050
  • Payback Period: 13.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Munster

Find out what the average cost of solar panel installation is in Munster.

Although the national average of solar panels is $2.66 per watt, solar panels in Munster typically cost around 4.The average Munster homeowner needs a 8.9-kilowatt system, which would cost about $25,659 with the federal tax credit, or $36,692 before the 0 tax credit is applied.

These figures are just estimates, and your own solar costs may vary based on the amount of energy your home requires and what company you want to go with.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $20,000 over 20 years on electricity bills.

To get a free quote from a vetted solar installation company in Munster, you can click the button below.

Solar savings over time in Munster

Year Return on Investment
1 years $-23,940
3 years $-20,500
5 years $-17,061
7 years $-13,621
9 years $-10,182
11 years $-6,742
13 years $-3,303
15 years $137
17 years $3,576
19 years $7,015
21 years $10,455
23 years $13,894
25 years $17,334

Top Solar Installers in Munster

Trying to put up solar panels on your own can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar companies provide can be helpful as well, especially if you aren’t sure what kind of solar equipment you need.

If you're looking for a solar installer in Munster, the EcoWatch team has organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Munster

Factors that Affect Solar Panel Costs in Munster

For many Munster homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Munster, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Munster average.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Munster homeowners choose to finance their solar panel systems to make paying for solar more affordable.While solar loans make going solar more accessible for Munster homeowners, they can also increase the total you pay for your system, depending on your interest rate. 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 consideration when trying to evaluate the cost of solar for your home or business in Munster is the company you get to install your solar system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 $4.26 $17,909 $14,185 14.0 years
8 kW $4.18 $23,419 $19,372 13.7 years
10 kW $4.10 $28,700 $24,789 13.4 years
12 kW $4.02 $33,751 $30,435 13.1 years
14 kW $3.94 $38,573 $36,312 12.9 years
16 kW $3.85 $43,165 $42,417 12.6 years
18 kW $3.77 $47,527 $48,753 12.3 years
20 kW $3.69 $51,660 $55,318 12.1 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:

  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
  • Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
  • Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Munster, IN Solar Cost FAQs

What is the average cost of installing solar panels in Munster?

This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Munster?

Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

Is switching to solar power 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 energy bills are already reasonably low, solar panels might not be for you.

How many solar panels do I need to power my home?

To figure out what solar panel system size you need, you should find out 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 home 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.

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