Solar Panel Cost Guide in Peru, IN (Mar 2023)
- Peru Solar Installation Cost: $16,715
- 25-Year Savings: $23,995
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Peru
We go over average solar pricing in Peru.
While the national average of solar panels is $2.66 per watt, solar panels in Peru typically cost about 2.68. Using this figure, a typical 8.9-kW system would cost about $16,715 before the 30% federal solar tax credit 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 use, the type of solar panels you choose, your solar contractor and more. But, after you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $17,000 over 20 years on energy bills.
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 Peru
| Year | Return on Investment |
|---|---|
| 1 years | $-15,087 |
| 3 years | $-11,830 |
| 5 years | $-8,573 |
| 7 years | $-5,316 |
| 9 years | $-2,060 |
| 11 years | $1,197 |
| 13 years | $4,454 |
| 15 years | $7,711 |
| 17 years | $10,967 |
| 19 years | $14,224 |
| 21 years | $17,481 |
| 23 years | $20,738 |
| 25 years | $23,995 |
Top Solar Installers in Peru
Although you can install solar panels by yourself, it involves extra effort and expertise. For that reason, most homeowners choose a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
Although the average cost of a solar system in Peru is $16,715, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of 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. On the other hand, more efficient panels could save you more over time on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Peru average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Peru, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can impact the cost. Peru's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $15,696 | 10.7 years |
| 8 kW | $2.73 | $15,308 | $21,229 | 10.5 years |
| 10 kW | $2.68 | $18,760 | $26,911 | 10.3 years |
| 12 kW | $2.63 | $22,062 | $32,743 | 10.1 years |
| 14 kW | $2.57 | $25,213 | $38,726 | 9.9 years |
| 16 kW | $2.52 | $28,215 | $44,859 | 9.7 years |
| 18 kW | $2.47 | $31,067 | $51,141 | 9.4 years |
| 20 kW | $2.41 | $33,768 | $57,574 | 9.2 years |
How to Save on Solar Panels
There are numerous companies available in Peru, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers 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.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 precisely, because the cost depends on many factors. Broadly 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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Peru, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.