Solar Panel Cost Guide in Simonton Lake, IN (Jan 2023)

  • Simonton Lake Solar Installation Cost: $16,959
  • 25-Year Savings: $26,371
  • Payback Period: 9.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Simonton Lake

We go over average solar pricing in Simonton Lake.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Simonton Lake, the typical cost of solar panels is $3 per watt. The average Simonton Lake homeowner needs a 9.0-kilowatt system, which would cost about $16,959, or $12,550 after the federal solar tax credit of 30% 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 depending on a few factors, such as how many panels you need, your energy usage and what company you go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $18,000 over 20 years on power bills.

Click the button below to get connected to a vetted solar company in your area for a custom quote.

Solar savings over time in Simonton Lake

Year Return on Investment
1 years $-15,226
3 years $-11,759
5 years $-8,293
7 years $-4,827
9 years $-1,360
11 years $2,106
13 years $5,573
15 years $9,039
17 years $12,505
19 years $15,972
21 years $19,438
23 years $22,905
25 years $26,371

Top Solar Installers in Simonton Lake

Although you can install solar panels yourself, it involves extra energy and handiness. For that reason, most people choose to go with a solar panel installer. Some solar installers, particularly local ones, can help you make the most of incentives in Simonton Lake, optimizing your ROI.

Working with a licensed solar installer can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

For many Simonton Lake homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Simonton Lake, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the price of a solar panel system in Simonton Lake, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by about $2,680 for each additional kilowatt you need. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Simonton Lake to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time due to interest. You'll have to consider the long-term cost of loans, 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 principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.

Solar Panel Installation Company

The remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Simonton Lake, you'll have plenty of options to choose from, but each comes at different price points 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 has the products, warranties and services you want and also fits 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 $17,064 10.2 years
8 kW $2.73 $15,308 $23,052 10.0 years
10 kW $2.68 $18,760 $29,191 9.8 years
12 kW $2.63 $22,062 $35,479 9.6 years
14 kW $2.57 $25,213 $41,917 9.4 years
16 kW $2.52 $28,215 $48,506 9.2 years
18 kW $2.47 $31,067 $55,244 9.0 years
20 kW $2.41 $33,768 $62,133 8.8 years

How to Save on Solar Panels

The company that does your system 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:

  • Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
  • Warranty: If you're worried about the durability of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
  • Solar Panel Brands: The type of solar panel you want to get plays a role in which company you should choose, since different companies offer different panels.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 $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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.

What other factors should I consider in addition to cost when buying solar panels?

Cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

How much can I save on power bills after switching to solar?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Simonton Lake, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy consumption and the amount of 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 install 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.

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