Solar Panel Cost Guide in South Haven, IN (2023 Update)
- South Haven Solar Installation Cost: $16,764
- 25-Year Savings: $28,528
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in South Haven
Let's have a look at the average cost of solar panels in South Haven.
Although the national average of solar panels is $2.66 per watt, solar panels in South Haven typically cost around 2.68. The average solar panel system size in South Haven is around 8.9 kilowatts, meaning a cost of about $16,771 for a solar installation, or $23,983 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary depending on several factors, such as what size system you need, your energy consumption and what company you go with. With typical savings of about $19,000 on electricity bills over 20 years, many homeowners in South Haven find investing in solar has a decent ROI.
Click the button below to get connected to a highly rated solar company in South Haven for a customized estimate.
Solar savings over time in South Haven
| Year | Return on Investment |
|---|---|
| 1 years | $-15,044 |
| 3 years | $-11,605 |
| 5 years | $-8,165 |
| 7 years | $-4,726 |
| 9 years | $-1,286 |
| 11 years | $2,153 |
| 13 years | $5,592 |
| 15 years | $9,032 |
| 17 years | $12,471 |
| 19 years | $15,911 |
| 21 years | $19,350 |
| 23 years | $22,790 |
| 25 years | $26,229 |
Top Solar Installers in South Haven
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make switching to solar power much easier. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.
If you'd like to switch to solar energy but still aren't sure which solar company to go with, here are our recommendations 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
Even though the average cost of a solar system in South Haven is $16,771, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,680. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like South Haven, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many South Haven homeowners opt to finance their solar panel systems to make going solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in South Haven is the company you get to install your solar system. As with choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in South Haven know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $18,704 | 9.6 years |
| 8 kW | $2.73 | $15,308 | $25,239 | 9.4 years |
| 10 kW | $2.68 | $18,760 | $31,924 | 9.3 years |
| 12 kW | $2.63 | $22,062 | $38,759 | 9.1 years |
| 14 kW | $2.57 | $25,213 | $45,745 | 8.9 years |
| 16 kW | $2.52 | $28,215 | $52,880 | 8.7 years |
| 18 kW | $2.47 | $31,067 | $60,165 | 8.5 years |
| 20 kW | $2.41 | $33,768 | $67,601 | 8.3 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 models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: The type of solar panel you want to install plays a part in which company you should go with, since different companies provide different panels.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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
What is the average cost of installing solar panels in South Haven?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in South Haven?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,013.69 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.