Solar Panel Cost Guide in Wabash, IN (2024 Update)
- Wabash Solar Installation Cost: $25,538
- 25-Year Savings: $21,820
- Payback Period: 16.6 Years
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Average Cost of Solar Panels in Wabash
Find out what the average cost of a solar system is in Wabash.
Although the national average of solar panels is $2.66 per watt, solar panels in Wabash generally cost about 4.The average solar panel system size in Wabash is around 8.9 kilowatts, meaning a cost of about $25,538 for a solar installation, or $36,519 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Wabash homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Wabash find installing solar panels has a decent ROI.
To calculate 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 | $-24,213 |
| 3 years | $-21,562 |
| 5 years | $-18,910 |
| 7 years | $-16,259 |
| 9 years | $-13,608 |
| 11 years | $-10,957 |
| 13 years | $-8,306 |
| 15 years | $-5,654 |
| 17 years | $-3,003 |
| 19 years | $-352 |
| 21 years | $2,299 |
| 23 years | $4,951 |
| 25 years | $7,602 |
Top Solar Installers in Wabash
When going solar, many homeowners choose to hire a solar installer since overseeing your solar installation yourself can be a time-consuming project. Another great thing about choosing a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Wabash
Factors that Affect Solar Panel Costs in Wabash
There are several factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines 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 energy needs.There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Wabash offer solar loans, which reduce the initial cost of installing solar.Although solar loans make switching to solar energy more accessible for Wabash homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Wabash is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you’ll have many options for solar installers that provide a range of services for different budgets.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment 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 | $4.26 | $17,909 | $8,060 | 17.2 years |
| 8 kW | $4.18 | $23,419 | $11,206 | 16.9 years |
| 10 kW | $4.10 | $28,700 | $14,581 | 16.6 years |
| 12 kW | $4.02 | $33,751 | $18,186 | 16.2 years |
| 14 kW | $3.94 | $38,573 | $22,021 | 15.9 years |
| 16 kW | $3.85 | $43,165 | $26,085 | 15.6 years |
| 18 kW | $3.77 | $47,527 | $30,379 | 15.3 years |
| 20 kW | $3.69 | $51,660 | $34,902 | 14.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: When making the switch to solar power, it’s important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project timeline.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Wabash, IN Solar Cost FAQs
How much does it cost to install solar panels in Wabash?
The average cost of solar panels in Wabash is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Wabash?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Wabash?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.