Solar Panel Cost Guide in Peru, IN (2024 Update)
- Peru Solar Installation Cost: $25,582
- 25-Year Savings: $23,988
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Peru
We break down average solar pricing in Peru.
The average cost of a solar system in Peru is 4 per watt.Because a 8.9-kW system is needed to cover the energy usage of a typical home in Peru, the average price of going solar will be about $25,582 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary based on a few factors, such as what size system you need, your energy consumption and what installation company you go with.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Peru can save around $17,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar company in Peru that can help you get a more accurate cost estimate for your home.
Solar savings over time in Peru
| Year | Return on Investment |
|---|---|
| 1 years | $-24,256 |
| 3 years | $-21,605 |
| 5 years | $-18,954 |
| 7 years | $-16,303 |
| 9 years | $-13,652 |
| 11 years | $-11,000 |
| 13 years | $-8,349 |
| 15 years | $-5,698 |
| 17 years | $-3,047 |
| 19 years | $-396 |
| 21 years | $2,256 |
| 23 years | $4,907 |
| 25 years | $7,558 |
Top Solar Installers in Peru
Trying to put up solar panels on your own can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. Solar warranties and repairs are typically included in the cost of installation when you hire a solar company as well, which can save you more money over time.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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 Peru
Factors that Affect Solar Panel Costs in Peru
For many Peru homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Peru, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,100.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Peru homeowners opt to finance their solar panel systems to make paying for solar more affordable.Although solar loans make switching to solar energy more accessible for Peru homeowners, they can also raise the total you pay for your system, depending on your interest rate. 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 affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.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 provides the products, warranties and services you want and also fits 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 | $4.26 | $17,909 | $9,494 | 16.3 years |
| 8 kW | $4.18 | $23,419 | $13,118 | 16.0 years |
| 10 kW | $4.10 | $28,700 | $16,971 | 15.7 years |
| 12 kW | $4.02 | $33,751 | $21,054 | 15.4 years |
| 14 kW | $3.94 | $38,573 | $25,367 | 15.1 years |
| 16 kW | $3.85 | $43,165 | $29,909 | 14.8 years |
| 18 kW | $3.77 | $47,527 | $34,681 | 14.5 years |
| 20 kW | $3.69 | $51,660 | $39,682 | 14.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose significantly impacts 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:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Solar Panel Brands: Not all solar companies carry 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.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
Best National Provider
SunPower
- 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
- 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 Peru, IN Solar Cost FAQs
What is the average cost of installing solar panels in Peru?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $20,500 for a 5-kW system and $41,000 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 higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Peru?
A solar panel system isn’t free in Peru, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Peru have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy 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?
To figure out what solar panel system size 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 typically produce about 250 to 400 watt-hours per hour, the average home 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.