Solar Panel Cost Guide in Schererville, IN (2023 Update)
- Schererville Solar Installation Cost: $16,772
- 25-Year Savings: $30,038
- Payback Period: 9.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Schererville
We go over average solar pricing in Schererville.
The national average cost of solar panels is $2.66 per watt, but in Schererville it's 2.68 per watt. To account for the typical energy needs of the average home in Schererville, most homeowners require a 8.9-kilowatt system. Using the figure above, a solar installation costs around $16,771, or $23,983 before the federal solar tax credit of 30% is applied.
How much you pay can go higher or lower than the average in Schererville depending on a few factors, such as the model of solar panels you choose and the solar installer you hire. But, after you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $20,000 over 20 years on utility bills.
To get a free quote from a top solar installation company in Schererville, you can click the button below.
Solar savings over time in Schererville
| Year | Return on Investment |
|---|---|
| 1 years | $-16,616 |
| 3 years | $-16,304 |
| 5 years | $-15,992 |
| 7 years | $-15,680 |
| 9 years | $-15,368 |
| 11 years | $-15,056 |
| 13 years | $-14,744 |
| 15 years | $-14,432 |
| 17 years | $-14,120 |
| 19 years | $-13,808 |
| 21 years | $-13,496 |
| 23 years | $-13,184 |
| 25 years | $-12,872 |
Top Solar Installers in Schererville
Although it's possible to install solar panels on your own, it requires extra effort and knowledge. That's why most homeowners choose to hire a solar panel installer. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
You can get a free estimate 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
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 Schererville
Factors that Affect Solar Panel Costs in Schererville
Even though the average cost of a solar system in Schererville is $16,771, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. There are a lot of different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Schererville, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your all-in costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you pick will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Schererville are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $19,708 | 9.3 years |
| 8 kW | $2.73 | $15,308 | $26,577 | 9.1 years |
| 10 kW | $2.68 | $18,760 | $33,597 | 9.0 years |
| 12 kW | $2.63 | $22,062 | $40,766 | 8.8 years |
| 14 kW | $2.57 | $25,213 | $48,086 | 8.6 years |
| 16 kW | $2.52 | $28,215 | $55,556 | 8.4 years |
| 18 kW | $2.47 | $31,067 | $63,176 | 8.2 years |
| 20 kW | $2.41 | $33,768 | $70,946 | 8.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Installation Process: When making the switch to solar energy, it's crucial to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project completion timeline.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
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 Schererville, IN Solar Cost FAQs
What is the average cost of installing solar panels in Schererville?
The average cost of solar panels in Schererville is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt 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 Schererville?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose 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.