Solar Panel Cost Guide in West Lafayette, IN (2023 Update)
- West Lafayette Solar Installation Cost: $16,649
- 25-Year Savings: $25,071
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in West Lafayette
Let's have a look at the average cost of solar in West Lafayette.
While the national average of solar panels is $2.66 per watt, solar panels in West Lafayette generally cost about 2.68. The average solar panel system size in West Lafayette is around 8.9 kilowatts, meaning a cost of about $16,640 for a solar installation, or $23,795 before the 30% federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in West Lafayette depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. With typical savings of about $18,000 on utility bills over 20 years, many homeowners in West Lafayette find going solar has a decent ROI.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in West Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-16,510 |
| 3 years | $-16,232 |
| 5 years | $-15,953 |
| 7 years | $-15,675 |
| 9 years | $-15,397 |
| 11 years | $-15,119 |
| 13 years | $-14,841 |
| 15 years | $-14,563 |
| 17 years | $-14,285 |
| 19 years | $-14,007 |
| 21 years | $-13,729 |
| 23 years | $-13,450 |
| 25 years | $-13,172 |
Top Solar Installers in West Lafayette
Installing solar panels on your own can be a difficult project, which is why using a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be useful as well, especially if you don't quite know what type of solar equipment you need.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in West Lafayette:
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
There are a number of criteria that can affect your total 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
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,680. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many West Lafayette homeowners decide to finance their solar panel systems to make paying for solar more affordable. While solar loans make going solar more accessible for West Lafayette homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in West Lafayette, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Some companies 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 find a company that offers the products, warranties and services you're looking for 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 | $16,499 | 10.4 years |
| 8 kW | $2.73 | $15,308 | $22,299 | 10.2 years |
| 10 kW | $2.68 | $18,760 | $28,250 | 10.0 years |
| 12 kW | $2.63 | $22,062 | $34,350 | 9.8 years |
| 14 kW | $2.57 | $25,213 | $40,600 | 9.6 years |
| 16 kW | $2.52 | $28,215 | $47,000 | 9.4 years |
| 18 kW | $2.47 | $31,067 | $53,551 | 9.2 years |
| 20 kW | $2.41 | $33,768 | $60,251 | 9.0 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Warranty: If you're worried about the durability of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
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 $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in West Lafayette?
You can't get solar panels for free in West Lafayette. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in West Lafayette?
Even 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 after having 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.