Solar Panel Cost Guide in Simonton Lake, IN (2024 Update)
- Simonton Lake Solar Installation Cost: $25,934
- 25-Year Savings: $26,378
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Simonton Lake
We go over average solar pricing in Simonton Lake.
The national average cost of solar panels is $2.66 per watt, but in Simonton Lake it’s 4 per watt.To account for the typical energy usage of the average home in Simonton Lake, most homeowners require a 9.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $25,934, or $37,086 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and the cost of going solar for you will most likely vary based on your specific situation and what company you go with.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Simonton Lake can save about $18,000 on their electricity bills over 20 years.
To get a free quote from a vetted solar installation company in Simonton Lake, you can click the button below.
Solar savings over time in Simonton Lake
Year | Return on Investment |
---|---|
1 years | $-24,317 |
3 years | $-21,082 |
5 years | $-17,847 |
7 years | $-14,612 |
9 years | $-11,377 |
11 years | $-8,143 |
13 years | $-4,908 |
15 years | $-1,673 |
17 years | $1,562 |
19 years | $4,797 |
21 years | $8,032 |
23 years | $11,267 |
25 years | $14,501 |
Top Solar Installers in Simonton Lake
Many homeowners opt for a solar panel installer since trying to put up solar panels on your own can be hard. The expertise that solar companies offer can be valuable as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
If you’d like to start using solar energy but still aren’t certain which solar system company to go with, here are our suggestions for providers in Simonton Lake:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Simonton Lake
Factors that Affect Solar Panel Costs in Simonton Lake
Even though the average cost of a solar system in Simonton Lake is $25,934, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you just 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 financially overwhelming. Solar loans are offered by most installers in Simonton Lake, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.Though solar loans make adopting solar energy more accessible for Simonton Lake homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Simonton Lake, you’ll have many options to choose from, but each comes at various price points for labor and equipment.The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $10,862 | 15.6 years |
8 kW | $4.18 | $23,419 | $14,941 | 15.3 years |
10 kW | $4.10 | $28,700 | $19,251 | 15.0 years |
12 kW | $4.02 | $33,751 | $23,789 | 14.7 years |
14 kW | $3.94 | $38,573 | $28,558 | 14.4 years |
16 kW | $3.85 | $43,165 | $33,556 | 14.1 years |
18 kW | $3.77 | $47,527 | $38,784 | 13.8 years |
20 kW | $3.69 | $51,660 | $44,241 | 13.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Simonton Lake, IN Solar Cost FAQs
How much does it cost to install solar panels in Simonton Lake?
The average cost of solar panels in Simonton Lake is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to 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.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Simonton Lake is currently $287,267, which means you can look forward to a value of about $11,778 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Simonton Lake is a worthwhile investment.
How long do solar panels last in Simonton Lake?
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 level 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.