Solar Panel Cost Guide in Wabash, IN (2023 Update)
- Wabash Solar Installation Cost: $16,693
- 25-Year Savings: $21,820
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wabash
Let's have a look at the average cost of solar panels in Wabash.
While the national average of solar panels is $2.66 per watt, solar panels in Wabash typically cost around 2.68. To cover the typical energy needs of the average home in Wabash, most homeowners require a 8.9-kilowatt system. Using the figure above, a solar installation costs about $16,696, or $23,875 before the federal solar tax credit of 30% is applied.
These figures are just averages, and your own solar costs will differ based on your specific situation and what company you go with. Despite the high initial cost, the average Wabash homeowner can save around $16,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a reputable solar installer in your area for a custom estimate.
Solar savings over time in Wabash
| Year | Return on Investment |
|---|---|
| 1 years | $-16,565 |
| 3 years | $-16,308 |
| 5 years | $-16,051 |
| 7 years | $-15,795 |
| 9 years | $-15,538 |
| 11 years | $-15,281 |
| 13 years | $-15,024 |
| 15 years | $-14,768 |
| 17 years | $-14,511 |
| 19 years | $-14,254 |
| 21 years | $-13,997 |
| 23 years | $-13,741 |
| 25 years | $-13,484 |
Top Solar Installers in Wabash
Although you can install solar panels yourself, it requires extra effort and knowledge. That's why most people choose a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're searching for a solar company in Wabash, we've organized a list of our top suggestions here:
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 Wabash
Factors that Affect Solar Panel Costs in Wabash
Although the average cost of a solar system in Wabash is $16,696, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Wabash, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Wabash homeowners opt to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's crucial to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Wabash, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- 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 good reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
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 Wabash, IN Solar Cost FAQs
How much does it cost to install solar panels in Wabash?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly 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 consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Wabash?
A solar panel system isn't free in Wabash, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is going solar worth it?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Wabash?
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 the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.