Solar Panel Cost Guide in Nappanee, IN (2024 Update)
- Nappanee Solar Installation Cost: $25,854
- 25-Year Savings: $26,713
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Nappanee
We go over average solar pricing in Nappanee.
In Nappanee, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Nappanee, most homeowners require a 9.0-kilowatt system. Using the figure above, a solar installation costs around $25,854, or $36,971 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 may look quite different based on your household energy consumption, the type of equipment you choose, your solar contractor and more.Many homeowners find going solar is a solid investment. The average homeowner in Nappanee can save about $18,000 on their electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Nappanee
| Year | Return on Investment |
|---|---|
| 1 years | $-24,134 |
| 3 years | $-20,695 |
| 5 years | $-17,256 |
| 7 years | $-13,816 |
| 9 years | $-10,377 |
| 11 years | $-6,937 |
| 13 years | $-3,498 |
| 15 years | $-58 |
| 17 years | $3,381 |
| 19 years | $6,821 |
| 21 years | $10,260 |
| 23 years | $13,699 |
| 25 years | $17,139 |
Top Solar Installers in Nappanee
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make your switch to solar power much easier. Another good thing about using a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
Working with a vetted solar installer can help your solar project go smoothly. 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 Nappanee
Factors that Affect Solar Panel Costs in Nappanee
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Nappanee: 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 significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $4,100 per kilowatt in Nappanee.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Nappanee, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $11,139 | 15.4 years |
| 8 kW | $4.18 | $23,419 | $15,311 | 15.1 years |
| 10 kW | $4.10 | $28,700 | $19,713 | 14.8 years |
| 12 kW | $4.02 | $33,751 | $24,344 | 14.5 years |
| 14 kW | $3.94 | $38,573 | $29,205 | 14.2 years |
| 16 kW | $3.85 | $43,165 | $34,296 | 13.9 years |
| 18 kW | $3.77 | $47,527 | $39,616 | 13.6 years |
| 20 kW | $3.69 | $51,660 | $45,166 | 13.3 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Solar Panel Brands: Different companies offer different brands and models of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
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 Nappanee, IN Solar Cost FAQs
What is the average cost of installing solar panels in Nappanee?
The average cost of solar panels in Nappanee 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 certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Nappanee?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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 savings from going solar.
Is it worth going solar in Nappanee?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Nappanee?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.