Solar Panel Cost Guide in South Haven, IN (2024 Update)
- South Haven Solar Installation Cost: $25,646
- 25-Year Savings: $28,528
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in South Haven
Let’s have a look at the average cost of solar in South Haven.
The average cost of a solar panel system in South Haven is 4 per watt.The average solar panel system size in South Haven is around 8.9 kilowatts, meaning a cost of about $25,646 for a solar installation, or $36,674 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in South Haven depending on several factors, such as the brand of solar panels you choose and the solar company you hire.Even with the large initial cost, the average South Haven homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a vetted solar installer in South Haven for a quote for your home.
Solar savings over time in South Haven
| Year | Return on Investment |
|---|---|
| 1 years | $-23,927 |
| 3 years | $-20,487 |
| 5 years | $-17,048 |
| 7 years | $-13,608 |
| 9 years | $-10,169 |
| 11 years | $-6,729 |
| 13 years | $-3,290 |
| 15 years | $149 |
| 17 years | $3,589 |
| 19 years | $7,028 |
| 21 years | $10,468 |
| 23 years | $13,907 |
| 25 years | $17,347 |
Top Solar Installers in South Haven
Many homeowners opt for a solar panel installer since installing solar panels yourself can be hard. A solar company can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you’d like to make the switch to solar but still aren’t sure which solar panel company to go with, here are our suggestions for providers nearby:
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 South Haven
Factors that Affect Solar Panel Costs in South Haven
Though the average cost of a solar system in South Haven is $25,646, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar energy system in South Haven, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by around $4,100 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like South Haven, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your all-in costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can affect your pricing. South Haven’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in South Haven 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 | $4.26 | $17,909 | $12,502 | 14.7 years |
| 8 kW | $4.18 | $23,419 | $17,128 | 14.4 years |
| 10 kW | $4.10 | $28,700 | $21,984 | 14.2 years |
| 12 kW | $4.02 | $33,751 | $27,070 | 13.9 years |
| 14 kW | $3.94 | $38,573 | $32,385 | 13.6 years |
| 16 kW | $3.85 | $43,165 | $37,930 | 13.3 years |
| 18 kW | $3.77 | $47,527 | $43,705 | 13.0 years |
| 20 kW | $3.69 | $51,660 | $49,709 | 12.7 years |
How to Save on Solar Panels
There are a lot of companies available in South Haven, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
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 South Haven, IN Solar Cost FAQs
How much does it cost to install solar panels in South Haven?
This is a hard question to answer exactly, because the cost depends on a few different 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. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in South Haven?
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.
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.