Solar Panel Cost Guide in Schererville, IN (Mar 2023)
- Schererville Solar Installation Cost: $16,771
- 25-Year Savings: $30,039
- Payback Period: 9.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Schererville
Find out what the average cost of installing solar panels is in Schererville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Schererville, the average cost of solar panels is 2.68 per watt. Using this figure, a typical 8.9-kW system would cost about $16,771 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what company you go with. With average savings of about $20,000 on power bills over 20 years, many homeowners in Schererville find installing solar panels has a decent ROI.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Schererville
| 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 Schererville
Many homeowners opt for a solar installation company since figuring out how to install solar panels by yourself can be a lot of work. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
If you're searching for a solar installer in Schererville, we've organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Schererville: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,680 per kilowatt in Schererville. The brand and kind of equipment you want for your solar system can increase or decrease 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Schererville, and each can charge different amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also is within your budget.
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 models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: When reading 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 like a system component 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 (coming 2022)
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?
This is a hard question to answer exactly, because the cost depends on a variety of 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 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 efficient solar panels.
Are solar panels free in Schererville?
Solar panels aren't free in Schererville, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Schererville?
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 many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.