Solar Panel Cost Guide in Warsaw, IN (Mar 2023)
- Warsaw Solar Installation Cost: $16,846
- 25-Year Savings: $26,766
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Warsaw
Here's how much it might cost to switch to solar power in Warsaw.
The average cost of solar panels in Warsaw is 2.68 per watt. The average Warsaw homeowner needs a 9.0-kilowatt system, which would cost about $16,846 with the federal tax credit, or $24,090 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar system you want to get, your solar contractor and more. But, after you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on electricity bills.
To get a free estimate from a highly rated solar company in Warsaw, you can click the button below.
Solar savings over time in Warsaw
| Year | Return on Investment |
|---|---|
| 1 years | $-15,102 |
| 3 years | $-11,613 |
| 5 years | $-8,124 |
| 7 years | $-4,635 |
| 9 years | $-1,146 |
| 11 years | $2,343 |
| 13 years | $5,832 |
| 15 years | $9,321 |
| 17 years | $12,810 |
| 19 years | $16,299 |
| 21 years | $19,788 |
| 23 years | $23,277 |
| 25 years | $26,766 |
Top Solar Installers in Warsaw
Many homeowners choose to hire a solar panel installer since trying to install solar panels by yourself can be a labor-intensive endeavor. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you'd like to start using solar energy but still aren't sure which solar company to go with, here are our suggestions for providers in Warsaw:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Warsaw
Factors that Affect Solar Panel Costs in Warsaw
For many Warsaw homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Warsaw, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Warsaw, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $2,680 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Warsaw provide solar loans, which reduce the initial cost of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can affect the cost. Warsaw's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that offers the products, warranties and services you want and also is within your budget.
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 | $17,431 | 10.0 years |
| 8 kW | $2.73 | $15,308 | $23,542 | 9.9 years |
| 10 kW | $2.68 | $18,760 | $29,803 | 9.7 years |
| 12 kW | $2.63 | $22,062 | $36,213 | 9.5 years |
| 14 kW | $2.57 | $25,213 | $42,774 | 9.3 years |
| 16 kW | $2.52 | $28,215 | $49,485 | 9.1 years |
| 18 kW | $2.47 | $31,067 | $56,346 | 8.9 years |
| 20 kW | $2.41 | $33,768 | $63,357 | 8.7 years |
How to Save on Solar Panels
There are a lot of companies available in Warsaw, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- 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 that kind of warranty is one indication of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Warsaw, IN Solar Cost FAQs
How much does it cost to install solar panels in Warsaw?
This is a difficult question to answer exactly, because the cost depends on many 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Warsaw?
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 savings from going solar.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Warsaw?
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.