Solar Panel Cost Guide in Simonton Lake, IN (2025 Update)
- Simonton Lake Solar Installation Cost: $25,934
- 25-Year Savings: $26,378
- Payback Period: 15.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
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 needs of the average home in Simonton Lake, most homeowners require a 9.0-kilowatt system. Using the figure above, a solar installation costs about $25,934, or $37,086 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar panels you want to get, your solar contractor and more.Even with the high upfront cost, the average Simonton Lake homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a vetted solar company in Simonton Lake that can help you get a more accurate cost estimate for your home.
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 choose to hire a solar installer since installing solar panels by yourself can be hard. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
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 in Simonton Lake:
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 install a solar energy system comes down to 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 a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use 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 kind of equipment you choose for your solar system can raise or lower 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra 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 Simonton Lake to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, 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 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 getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating in Simonton Lake, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
EcoWatch's Simonton Lake, IN Solar Cost FAQs
What is the average cost of installing solar panels in Simonton Lake?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact how much my home is worth?
Solar panels 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 could be looking at 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 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 decreases 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.