Solar Panel Cost Guide in Peru, IN (2023 Update)
- Peru Solar Installation Cost: $16,722
- 25-Year Savings: $23,988
- Payback Period: 10.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Peru
We break down average solar pricing in Peru.
Although the national average of solar panels is $2.66 per watt, solar panels in Peru generally cost around 2.68. 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 $16,715 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary based on multiple factors, such as what size system you need, your energy consumption and what company you go with. But, after you've paid the initial cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $17,000 over 20 years on power bills.
To receive a free quote from a pre-vetted solar installation company in Peru, you can click the button below.
Solar savings over time in Peru
| Year | Return on Investment |
|---|---|
| 1 years | $-16,586 |
| 3 years | $-16,315 |
| 5 years | $-16,043 |
| 7 years | $-15,772 |
| 9 years | $-15,501 |
| 11 years | $-15,229 |
| 13 years | $-14,958 |
| 15 years | $-14,686 |
| 17 years | $-14,415 |
| 19 years | $-14,144 |
| 21 years | $-13,872 |
| 23 years | $-13,601 |
| 25 years | $-13,329 |
Top Solar Installers in Peru
Installing solar panels yourself can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
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
Although the average cost of a solar system in Peru is $16,715, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,680 per kilowatt in Peru. There are several different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that are more efficient tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Peru offer solar loans, which reduce your upfront costs of installing solar. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can impact the cost. Peru's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Installation Process: When making the switch to solar power, it's necessary to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: The type of solar panel you'd like to install plays a role in which company you should choose, since different companies have different panels.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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 difficult question to answer precisely, because the cost depends on a few different 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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial 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 take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Peru?
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 offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.