Solar Panel Cost Guide in Warsaw, IN (2023 Update)
- Warsaw Solar Installation Cost: $16,848
- 25-Year Savings: $26,765
- Payback Period: 9.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Warsaw
Let's have a look at the average cost of solar panels in Warsaw.
The national average cost of solar panels is $2.66 per watt, but in Warsaw it's 2.68 per watt. Because a 9.0-kW system is needed to cover the energy usage of a typical home in Warsaw, the average price of going solar will be about $16,846 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Warsaw homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.
To receive a free estimate from a highly rated solar installer in Warsaw, you can click the button below.
Solar savings over time in Warsaw
| Year | Return on Investment |
|---|---|
| 1 years | $-15,128 |
| 3 years | $-11,689 |
| 5 years | $-8,249 |
| 7 years | $-4,810 |
| 9 years | $-1,370 |
| 11 years | $2,069 |
| 13 years | $5,509 |
| 15 years | $8,948 |
| 17 years | $12,388 |
| 19 years | $15,827 |
| 21 years | $19,266 |
| 23 years | $22,706 |
| 25 years | $26,145 |
Top Solar Installers in Warsaw
Although you can install solar panels on your own, it takes extra effort and expertise. Because of that, the majority of homeowners choose to hire a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Warsaw
Factors that Affect Solar Panel Costs in Warsaw
While the average cost of a solar system in Warsaw is $16,846, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,680. The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can influence how much you pay. Warsaw's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Warsaw have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $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
Since the model of solar panels and the installer you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 Warsaw, IN Solar Cost FAQs
What is the average cost of installing solar panels in Warsaw?
This is a tough 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. You can expect to pay 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 choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in Warsaw?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, solar panels can last 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 higher amount 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.