Solar Panel Cost Guide in South Bend, IN (Feb 2023)
- South Bend Solar Installation Cost: $16,959
- 25-Year Savings: $22,920
- Payback Period: 10.6 Years
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Top Solar Installers in South Bend
Putting up solar panels yourself can be a challenging project, which is why getting a solar installation company is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for you.
If you're searching for a solar company in South Bend, we've put together a list of our top suggestions here:
See all of the solar companies in South Bend
Factors that Affect Solar Panel Costs in South Bend
For many South Bend homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in South Bend, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,680. The brand of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in South Bend, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can play a role in determining how much you pay. South Bend's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in South Bend are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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||$14,757||11.1 years|
|8 kW||$2.73||$15,308||$19,976||10.8 years|
|10 kW||$2.68||$18,760||$25,345||10.6 years|
|12 kW||$2.63||$22,062||$30,864||10.4 years|
|14 kW||$2.57||$25,213||$36,533||10.2 years|
|16 kW||$2.52||$28,215||$42,353||10.0 years|
|18 kW||$2.47||$31,067||$48,322||9.8 years|
|20 kW||$2.41||$33,768||$54,442||9.6 years|
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: The kind of solar panel you want plays a part in which installer you should choose, since different companies provide different panels.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
EcoWatch's South Bend, IN Solar Cost FAQs
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.