Solar Panel Cost Guide in South Bend, IN (2024 Update)
- South Bend Solar Installation Cost: $25,950
- 25-Year Savings: $22,917
- Payback Period: 16.3 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 South Bend
Here’s how much it might cost to install solar panels in South Bend.
The national average cost of solar panels is $2.66 per watt, but in South Bend it’s 4 per watt.Using this figure, a typical 9.0-kW system would cost about $25,950 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar system you want to get, your solar contractor and more.Many homeowners find going solar is a fruitful investment. The average homeowner in South Bend can save around $17,000 on their electricity bills over 20 years.
To get a free estimate from a pre-vetted solar company in South Bend, you can click the button below.
Solar savings over time in South Bend
| Year | Return on Investment |
|---|---|
| 1 years | $-24,333 |
| 3 years | $-21,098 |
| 5 years | $-17,863 |
| 7 years | $-14,628 |
| 9 years | $-11,393 |
| 11 years | $-8,158 |
| 13 years | $-4,924 |
| 15 years | $-1,689 |
| 17 years | $1,546 |
| 19 years | $4,781 |
| 21 years | $8,016 |
| 23 years | $11,251 |
| 25 years | $14,486 |
Top Solar Installers in South Bend
When going solar, many homeowners choose to go with a solar installation company since overseeing your solar installation yourself can be a challenging project. Also, if you’d like to maximize your investment in solar energy, going with a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in South Bend:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in South Bend
Factors that Affect Solar Panel Costs in South Bend
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in South Bend: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,100.The brand and kind of equipment you get 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many South Bend homeowners decide to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in South Bend, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The company’s size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $8,554 | 16.9 years |
| 8 kW | $4.18 | $23,419 | $11,865 | 16.6 years |
| 10 kW | $4.10 | $28,700 | $15,405 | 16.3 years |
| 12 kW | $4.02 | $33,751 | $19,175 | 15.9 years |
| 14 kW | $3.94 | $38,573 | $23,174 | 15.6 years |
| 16 kW | $3.85 | $43,165 | $27,403 | 15.3 years |
| 18 kW | $3.77 | $47,527 | $31,862 | 15.0 years |
| 20 kW | $3.69 | $51,660 | $36,550 | 14.6 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's South Bend, IN Solar Cost FAQs
How much does it cost to install solar panels in South Bend?
The average cost of solar panels in South Bend 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 things such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your 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 South Bend is currently $173,004, which means you could be looking at a value of about $7,093 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in South Bend is a rewarding investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.