Solar Panel Cost Guide in New Haven, IN (2023 Update)
- New Haven Solar Installation Cost: $16,841
- 25-Year Savings: $21,720
- Payback Period: 10.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in New Haven
We break down average solar pricing in New Haven.
In New Haven, solar panels cost about 2.68 per watt on average. To account for the typical energy usage of the average home in New Haven, most homeowners require a 9.0-kilowatt system. Using the figure above, a solar installation costs about $16,846, or $24,090 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and your own solar costs may vary based on your energy needs and what company you choose to go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $16,000 over 20 years on electricity bills.
Click the button below to get connected to a reputable solar installer in your area for a customized quote.
Solar savings over time in New Haven
| Year | Return on Investment |
|---|---|
| 1 years | $-15,224 |
| 3 years | $-11,989 |
| 5 years | $-8,754 |
| 7 years | $-5,519 |
| 9 years | $-2,284 |
| 11 years | $950 |
| 13 years | $4,185 |
| 15 years | $7,420 |
| 17 years | $10,655 |
| 19 years | $13,890 |
| 21 years | $17,125 |
| 23 years | $20,360 |
| 25 years | $23,594 |
Top Solar Installers in New Haven
Putting up solar panels on your own can be a dangerous undertaking, which is why getting a solar installer is a good option for many homeowners. Plus, if you're unsure what kind of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 New Haven
Factors that Affect Solar Panel Costs in New Haven
Even though the average cost of a solar system in New Haven is $16,846, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,680. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in New Haven, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can influence your pricing. New Haven's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also is within your budget.
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 | $14,066 | 11.4 years |
| 8 kW | $2.73 | $15,308 | $19,055 | 11.1 years |
| 10 kW | $2.68 | $18,760 | $24,194 | 10.9 years |
| 12 kW | $2.63 | $22,062 | $29,483 | 10.7 years |
| 14 kW | $2.57 | $25,213 | $34,922 | 10.5 years |
| 16 kW | $2.52 | $28,215 | $40,512 | 10.3 years |
| 18 kW | $2.47 | $31,067 | $46,251 | 10.0 years |
| 20 kW | $2.41 | $33,768 | $52,140 | 9.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: The brand of solar panel you need plays a role in which installer you should opt for, since different companies offer different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
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 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 $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in New Haven?
You can't get solar panels for free in New Haven. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Does New Haven have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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 install 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.