Solar Panel Cost Guide in Portage, IN (2024 Update)
- Portage Solar Installation Cost: $25,646
- 25-Year Savings: $30,046
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Portage
We go over average solar pricing in Portage.
The national average cost of solar panels is $2.66 per watt, but in Portage it’s 4 per watt.Since a 8.9-kW system is needed to cover the energy needs of a typical home in Portage, the average price of going solar will be about $25,646 after claiming the federal solar tax credit of 0.
The true price you pay can be above or below the average in Portage depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.With typical savings of about $20,000 on power bills over 20 years, many homeowners in Portage find installing solar panels can pay off big.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Portage
| Year | Return on Investment |
|---|---|
| 1 years | $-23,927 |
| 3 years | $-20,487 |
| 5 years | $-17,048 |
| 7 years | $-13,608 |
| 9 years | $-10,169 |
| 11 years | $-6,729 |
| 13 years | $-3,290 |
| 15 years | $149 |
| 17 years | $3,589 |
| 19 years | $7,028 |
| 21 years | $10,468 |
| 23 years | $13,907 |
| 25 years | $17,347 |
Top Solar Installers in Portage
Although it's possible to install solar panels on your own, it takes extra labor and knowledge. That's one of the reasons most homeowners choose to go with a solar panel installer. The payback period of solar panels will vary based on factors like your location and energy consumption, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
Working with a professional solar installer 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
See all of the solar companies in Portage
Factors that Affect Solar Panel Costs in Portage
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Portage: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,100. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at 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 available from most installers in Portage, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.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 more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Portage, and each can charge different amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $13,521 | 14.2 years |
| 8 kW | $4.18 | $23,419 | $18,487 | 14.0 years |
| 10 kW | $4.10 | $28,700 | $23,683 | 13.7 years |
| 12 kW | $4.02 | $33,751 | $29,109 | 13.4 years |
| 14 kW | $3.94 | $38,573 | $34,764 | 13.1 years |
| 16 kW | $3.85 | $43,165 | $40,648 | 12.9 years |
| 18 kW | $3.77 | $47,527 | $46,763 | 12.6 years |
| 20 kW | $3.69 | $51,660 | $53,106 | 12.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose considerably affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Portage, IN Solar Cost FAQs
What is the average cost of installing solar panels in Portage?
This is a difficult question to answer precisely, 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. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Portage?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 get 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.