Solar Panel Cost Guide in Wabash, IN (Jan 2023)

  • Wabash Solar Installation Cost: $16,696
  • 25-Year Savings: $21,817
  • Payback Period: 10.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Wabash

We go over average solar pricing in Wabash.

In Wabash, solar panels cost about $3 per watt on average. The average solar panel system size in Wabash is around 8.9 kilowatts, meaning a cost of about $16,696 for a solar installation, or $12,355 after the 30% federal solar tax credit 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 equipment you want to get, your solar contractor and more. With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Wabash find installing solar panels can be quite rewarding.

To see your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Wabash

Year Return on Investment
1 years $-15,156
3 years $-12,075
5 years $-8,994
7 years $-5,913
9 years $-2,831
11 years $250
13 years $3,331
15 years $6,412
17 years $9,493
19 years $12,574
21 years $15,655
23 years $18,736
25 years $21,817

Top Solar Installers in Wabash

When making the switch to solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a difficult project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.

Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Wabash

Factors that Affect Solar Panel Costs in Wabash

The cost of installing a solar system in Wabash can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.

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 that have higher 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 $2,680. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional 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 energy bills over time, but they can also be a significant investment. That's why many Wabash homeowners opt to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your overall costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

Lastly, the company you hire to install your solar panel system can play a part in determining how much it costs. Wabash's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk 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 lower 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 $2.79 $11,706 $14,262 11.3 years
8 kW $2.73 $15,308 $19,317 11.1 years
10 kW $2.68 $18,760 $24,521 10.8 years
12 kW $2.63 $22,062 $29,876 10.6 years
14 kW $2.57 $25,213 $35,380 10.4 years
16 kW $2.52 $28,215 $41,035 10.2 years
18 kW $2.47 $31,067 $46,840 10.0 years
20 kW $2.41 $33,768 $52,794 9.8 years

How to Save on Solar Panels

The solar panel company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
  • Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
  • Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Wabash, IN Solar Cost FAQs

How much does it cost to install solar panels in Wabash?

This is a difficult question to answer exactly, because the cost depends on a few different 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 higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Wabash?

Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 bang for your buck from going solar.

How will solar panels impact my home value?

Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.

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