Solar Panel Cost Guide in New Haven, IN (2024 Update)

  • New Haven Solar Installation Cost: $25,765
  • 25-Year Savings: $21,720
  • Payback Period: 16.7 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

Why you can trust EcoWatch

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 New Haven

See how much it might cost to install solar panels in New Haven.

Currently, the national average cost of solar panels is $2.66 per watt. However, in New Haven, the typical cost of solar panels is 4 per watt.The average New Haven homeowner needs a 9.0-kilowatt system, which would cost about $25,765 with the federal tax credit, or $36,844 before the 0 tax credit is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy consumption and what company you go with.With average savings of about $16,000 on energy bills over 20 years, many homeowners in New Haven find going solar can pay off big.

To calculate your potential ROI and connect with a local solar expert, click the button below.

Solar savings over time in New Haven

Year Return on Investment
1 years $-24,147
3 years $-20,912
5 years $-17,677
7 years $-14,443
9 years $-11,208
11 years $-7,973
13 years $-4,738
15 years $-1,503
17 years $1,732
19 years $4,967
21 years $8,201
23 years $11,436
25 years $14,671

Top Solar Installers in New Haven

Although it's possible to install solar panels yourself, it takes extra effort and knowledge. Because of that, almost all homeowners choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance in the long run.

If you're on the hunt for a solar company in New Haven, we've 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 New Haven

Factors that Affect Solar Panel Costs in New Haven

There are a number of factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment

When it comes to estimating the cost of solar panels in New Haven, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past power bills. Your total cost can increase by about $4,100 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the New Haven average.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many New Haven homeowners choose to finance their solar panel systems to offset upfront costs.Even though solar loans make switching to solar energy more accessible for New Haven homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar panel installer you choose will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 $7,864 17.4 years
8 kW $4.18 $23,419 $10,944 17.0 years
10 kW $4.10 $28,700 $14,254 16.7 years
12 kW $4.02 $33,751 $17,794 16.4 years
14 kW $3.94 $38,573 $21,563 16.0 years
16 kW $3.85 $43,165 $25,562 15.7 years
18 kW $3.77 $47,527 $29,790 15.4 years
20 kW $3.69 $51,660 $34,248 15.0 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:

  • Installation Process: An important thing to understand when adopting solar power 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 companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a quality company.
  • 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 considerable role in the company you choose.

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 New Haven, IN Solar Cost FAQs

How much does it cost to install solar panels in New Haven?

The average cost of solar panels in New Haven is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to keep in mind when buying solar panels?

The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.

Can you sell solar power back to the grid in New Haven?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can 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.

Follow us