Solar Panel Cost Guide in Nappanee, IN (2023 Update)
- Nappanee Solar Installation Cost: $16,903
- 25-Year Savings: $26,710
- Payback Period: 9.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Nappanee
We break down average solar pricing in Nappanee.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Nappanee, the typical cost of solar panels is 2.68 per watt. Using this figure, a typical 9.0-kW system would cost about $16,903 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in Nappanee based on a few factors, such as the kind of solar panels you choose and the solar company you hire. For many homeowners, the upfront cost of solar is worth paying. On average Nappanee homeowners see about $18,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Nappanee
| Year | Return on Investment |
|---|---|
| 1 years | $-15,158 |
| 3 years | $-11,669 |
| 5 years | $-8,180 |
| 7 years | $-4,691 |
| 9 years | $-1,202 |
| 11 years | $2,287 |
| 13 years | $5,776 |
| 15 years | $9,265 |
| 17 years | $12,754 |
| 19 years | $16,243 |
| 21 years | $19,732 |
| 23 years | $23,221 |
| 25 years | $26,710 |
Top Solar Installers in Nappanee
When switching to solar energy, many homeowners opt to go with a solar installation company since DIY solar panel installation can be a time-consuming project. The expertise that solar installers offer can be useful as well, especially if you aren't sure what kind of solar equipment you need.
If you'd like to switch to solar energy but still aren't certain which solar system company to go with, here are our suggestions for providers near you:
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
For many Nappanee homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Nappanee, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. 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 are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Nappanee have solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also increases your all-in costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence your pricing. Nappanee's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Nappanee have more knowledge 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 end up saving you 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 | $17,342 | 10.1 years |
| 8 kW | $2.73 | $15,308 | $23,422 | 9.9 years |
| 10 kW | $2.68 | $18,760 | $29,653 | 9.7 years |
| 12 kW | $2.63 | $22,062 | $36,034 | 9.5 years |
| 14 kW | $2.57 | $25,213 | $42,565 | 9.3 years |
| 16 kW | $2.52 | $28,215 | $49,246 | 9.1 years |
| 18 kW | $2.47 | $31,067 | $56,077 | 8.9 years |
| 20 kW | $2.41 | $33,768 | $63,058 | 8.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
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?
This is a hard question to answer precisely, because the cost depends on many 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 higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from 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 cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is going solar worth it?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.