Solar Panel Cost Guide in West Lafayette, IN (2024 Update)
- West Lafayette Solar Installation Cost: $25,470
- 25-Year Savings: $25,071
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in West Lafayette
We break down average solar pricing in West Lafayette.
In West Lafayette, solar panels cost about 4 per watt on average.Using this figure, a typical 8.9-kW system would cost about $25,470 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average West Lafayette homeowner. The price 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 average savings of about $18,000 on utility bills over 20 years, many homeowners in West Lafayette find going solar can pay off big.
Click the button below to get connected to a top solar panel company in your area for a customized estimate.
Solar savings over time in West Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-24,052 |
| 3 years | $-21,216 |
| 5 years | $-18,380 |
| 7 years | $-15,544 |
| 9 years | $-12,708 |
| 11 years | $-9,872 |
| 13 years | $-7,036 |
| 15 years | $-4,200 |
| 17 years | $-1,364 |
| 19 years | $1,473 |
| 21 years | $4,309 |
| 23 years | $7,145 |
| 25 years | $9,981 |
Top Solar Installers in West Lafayette
Trying to install solar panels yourself can be a difficult undertaking, which is why using a solar installation company is a good option for many homeowners. The expertise that solar companies provide can be helpful as well, particularly if you don’t quite know what type of solar equipment would be right for your home.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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 West Lafayette
Factors that Affect Solar Panel Costs in West Lafayette
For many West Lafayette homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in West Lafayette, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $4,100 per kilowatt in West Lafayette.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like West Lafayette, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in West Lafayette, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Additionally, some companies in West Lafayette have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $4.26 | $17,909 | $10,297 | 15.9 years |
| 8 kW | $4.18 | $23,419 | $14,188 | 15.6 years |
| 10 kW | $4.10 | $28,700 | $18,310 | 15.3 years |
| 12 kW | $4.02 | $33,751 | $22,660 | 15.0 years |
| 14 kW | $3.94 | $38,573 | $27,241 | 14.7 years |
| 16 kW | $3.85 | $43,165 | $32,050 | 14.3 years |
| 18 kW | $3.77 | $47,527 | $37,090 | 14.0 years |
| 20 kW | $3.69 | $51,660 | $42,359 | 13.7 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: If you’re worried about the durability of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
Best National Provider
SunPower
- 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
- 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 West Lafayette, IN Solar Cost FAQs
What is the average cost of installing solar panels in West Lafayette?
The average cost of solar panels in West Lafayette is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will installing solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in West Lafayette is currently $330,685, so you could be looking at a value of about $13,558 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in West Lafayette is a fruitful investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.