Solar Panel Cost Guide in Schererville, IN (2024 Update)
- Schererville Solar Installation Cost: $25,659
- 25-Year Savings: $30,038
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Schererville
Let’s take a look at the average cost of solar in Schererville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Schererville, the typical cost of solar panels is 4 per watt.Using this figure, a typical 8.9-kW system would cost about $25,659 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Schererville depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire.With average savings of about $20,000 on energy bills over 20 years, many homeowners in Schererville find investing in solar can be quite rewarding.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Schererville
| Year | Return on Investment |
|---|---|
| 1 years | $-23,940 |
| 3 years | $-20,500 |
| 5 years | $-17,061 |
| 7 years | $-13,621 |
| 9 years | $-10,182 |
| 11 years | $-6,742 |
| 13 years | $-3,303 |
| 15 years | $137 |
| 17 years | $3,576 |
| 19 years | $7,015 |
| 21 years | $10,455 |
| 23 years | $13,894 |
| 25 years | $17,334 |
Top Solar Installers in Schererville
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your switch to solar power much easier. Some solar companies, especially local ones, can help you better understand incentives in Schererville, thereby optimizing your ROI.
Working with a vetted solar company can make going solar easier. 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 Schererville
Factors that Affect Solar Panel Costs in Schererville
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Schererville: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,100.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Schererville to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.When trying to figure 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 reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to 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 | $13,505 | 14.3 years |
| 8 kW | $4.18 | $23,419 | $18,466 | 14.0 years |
| 10 kW | $4.10 | $28,700 | $23,657 | 13.7 years |
| 12 kW | $4.02 | $33,751 | $29,077 | 13.4 years |
| 14 kW | $3.94 | $38,573 | $34,727 | 13.2 years |
| 16 kW | $3.85 | $43,165 | $40,606 | 12.9 years |
| 18 kW | $3.77 | $47,527 | $46,715 | 12.6 years |
| 20 kW | $3.69 | $51,660 | $53,054 | 12.3 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project timeline.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
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
How much does it cost to install solar panels in Schererville?
The average cost of solar panels in Schererville is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Schererville?
Solar panels aren’t free in Schererville, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Schererville have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 larger 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.