Solar Panel Cost Guide in Munster, IN (2023 Update)
- Munster Solar Installation Cost: $16,771
- 25-Year Savings: $31,051
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Munster
We break down average solar pricing in Munster.
The national average cost of solar panels is $2.66 per watt, but in Munster it's 2.68 per watt. Using this figure, a typical 8.9-kW system would cost about $16,771 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Munster depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. Many homeowners find going solar is a solid investment. The average homeowner in Munster can save around $20,000 on their electricity bills over 20 years.
To receive a free estimate from a pre-vetted solar installer in Munster, you can click the button below.
Solar savings over time in Munster
| Year | Return on Investment |
|---|---|
| 1 years | $-14,859 |
| 3 years | $-11,033 |
| 5 years | $-7,207 |
| 7 years | $-3,381 |
| 9 years | $445 |
| 11 years | $4,270 |
| 13 years | $8,096 |
| 15 years | $11,922 |
| 17 years | $15,748 |
| 19 years | $19,573 |
| 21 years | $23,399 |
| 23 years | $27,225 |
| 25 years | $31,051 |
Top Solar Installers in Munster
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make converting to solar power much easier. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Munster
Factors that Affect Solar Panel Costs in Munster
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Munster: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
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 electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Munster. There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power 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 offset upfront costs. While solar loans make going solar more accessible for Munster homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a role in determining how much you pay. Munster's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Munster know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $20,387 | 9.1 years |
| 8 kW | $2.73 | $15,308 | $27,483 | 8.9 years |
| 10 kW | $2.68 | $18,760 | $34,729 | 8.8 years |
| 12 kW | $2.63 | $22,062 | $42,125 | 8.6 years |
| 14 kW | $2.57 | $25,213 | $49,671 | 8.4 years |
| 16 kW | $2.52 | $28,215 | $57,367 | 8.2 years |
| 18 kW | $2.47 | $31,067 | $65,213 | 8.1 years |
| 20 kW | $2.41 | $33,768 | $73,210 | 7.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose considerably influences 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:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Installation Process: When making the switch to solar, it's important to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project completion timeline.
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 Munster, IN Solar Cost FAQs
How much does it cost to install solar panels in Munster?
This is a hard question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. 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 Munster?
A solar panel system isn't free in Munster, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels completely eradicate my power bills?
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 $1,069.78 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a 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 get between 20 and 35 panels to account for 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.