Solar Panel Cost Guide in West Lafayette, IN (Oct 2022)

  • West Lafayette Solar Installation Cost: $16,640
  • 25-Year Savings: $25,079
  • Payback Period: 10.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in West Lafayette

Here's how much it might cost to install solar panels in West Lafayette.

The national average cost of solar panels is $2.66 per watt, but in West Lafayette it's $3 per watt. The average West Lafayette homeowner needs a 8.9-kilowatt system, which would cost about $16,640, or $12,314 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of going solar can vary based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. For most homeowners, the upfront cost of solar panels is worth paying. On average West Lafayette homeowners see about $18,000 in savings on energy bills over 20 years.

You can click the button below to get connected with a top solar installer in West Lafayette that can help you get a more accurate cost estimate for your home.

Solar savings over time in West Lafayette

Year Return on Investment
1 years $-14,971
3 years $-11,634
5 years $-8,296
7 years $-4,959
9 years $-1,621
11 years $1,716
13 years $5,054
15 years $8,392
17 years $11,729
19 years $15,067
21 years $18,404
23 years $21,742
25 years $25,079

Top Solar Installers in West Lafayette

Installing solar panels on your own can be a dangerous project, which is why using a solar installer is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.

You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in West Lafayette:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment Size

The size of the solar system you need to offset your energy usage is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,680. The brand and kind 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 often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in West Lafayette, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.

Solar Panel Installation Company

The final 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 a great number of options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.

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

Solar Incentives in West Lafayette

Name Renewable Energy Property Tax Exemption
Website Visit here
More Info Click here

Name Tipmont REMC - Energy Efficiency Equipment Rebate Program
Website Visit here
More Info Click here

Name Noble REMC - Residential Energy Efficiency Rebate Incentives
Website Visit here
More Info Click here

Name Carroll White REMC - Residential Heat Pump Rebate Program
Website Visit here
More Info Click here

Name Wabash Valley Power Association (28 Member Cooperatives) - Residential Energy Efficiency Program
Website Visit here
More Info Click here

Name NIPSCO - Feed-In Tariff
Website Visit here
More Info Click here

Name Duke Energy - Residential and Builder Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a large number of companies available in West Lafayette, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:

  • Warranty: If you're worried about the endurance of your solar energy system, verifying your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Solar Panel Brands: The model of solar panel you want to install plays a role in which installer you should choose, since different companies have access to different panels.
  • Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
  • Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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

How much does it cost to install solar panels in West Lafayette?

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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Are solar panels 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 prefer to own your solar panels, you can finance them with a solar loan.

Do solar panels increase the value of your home?

Solar panels 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 $207,200, so you can look forward to a value of about $8,495 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in West Lafayette is a rewarding investment.

How many solar panels do I need to power 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 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 install 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.

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