Solar Panel Cost Guide in Portage, IN (2023 Update)
- Portage Solar Installation Cost: $16,771
- 25-Year Savings: $30,039
- Payback Period: 9.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Portage
Let's take a look at the average cost of solar panels in Portage.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Portage, the average cost of solar panels is 2.68 per watt. The average Portage homeowner needs a 8.9-kilowatt system, which would cost about $16,771 with the federal tax credit, or $23,983 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of installing solar panels can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what company you go with. With typical savings of about $20,000 on utility bills over 20 years, many homeowners in Portage find investing in solar has a decent ROI.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Portage
| Year | Return on Investment |
|---|---|
| 1 years | $-14,899 |
| 3 years | $-11,154 |
| 5 years | $-7,409 |
| 7 years | $-3,665 |
| 9 years | $80 |
| 11 years | $3,825 |
| 13 years | $7,570 |
| 15 years | $11,315 |
| 17 years | $15,060 |
| 19 years | $18,804 |
| 21 years | $22,549 |
| 23 years | $26,294 |
| 25 years | $30,039 |
Top Solar Installers in Portage
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make your swap to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a licensed solar installer can help you make the most of your investment in solar. 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 Portage
Factors that Affect Solar Panel Costs in Portage
Even though the average cost of a solar system in Portage is $16,771, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of solar panels in Portage, 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 consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,680 for each additional kilowatt you need. The type of solar equipment you choose can bring your price up or down 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, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Portage average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you choose will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $19,724 | 9.3 years |
| 8 kW | $2.73 | $15,308 | $26,598 | 9.1 years |
| 10 kW | $2.68 | $18,760 | $33,623 | 9.0 years |
| 12 kW | $2.63 | $22,062 | $40,798 | 8.8 years |
| 14 kW | $2.57 | $25,213 | $48,123 | 8.6 years |
| 16 kW | $2.52 | $28,215 | $55,598 | 8.4 years |
| 18 kW | $2.47 | $31,067 | $63,223 | 8.2 years |
| 20 kW | $2.41 | $33,768 | $70,998 | 8.1 years |
How to Save on Solar Panels
There are a lot of companies available in Portage, 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:
- Installation Process: When making the switch to solar energy, it's important to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: When looking over your solar installer'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 component breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
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 Portage, IN Solar Cost FAQs
How much does it cost to install solar panels in Portage?
This is a difficult question to answer precisely, because the cost depends on many 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Portage?
You can't get solar panels for free in Portage. However, you may still be able to afford 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.
How will having solar panels impact my home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Portage?
Although 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 choose to 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.