Solar Panel Cost Guide in Westfield, IN (2023 Update)
- Westfield Solar Installation Cost: $16,660
- 25-Year Savings: $22,631
- Payback Period: 10.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Westfield
We break down average solar pricing in Westfield.
In Westfield, solar panels cost about 2.68 per watt on average. The average Westfield homeowner needs a 8.9-kilowatt system, which would cost about $16,659 with the federal tax credit, or $23,822 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 will differ based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Westfield find installing solar panels can be quite rewarding.
To receive a free estimate from a vetted solar installer in Westfield, you can click the button below.
Solar savings over time in Westfield
| Year | Return on Investment |
|---|---|
| 1 years | $-16,529 |
| 3 years | $-16,267 |
| 5 years | $-16,005 |
| 7 years | $-15,743 |
| 9 years | $-15,481 |
| 11 years | $-15,219 |
| 13 years | $-14,957 |
| 15 years | $-14,695 |
| 17 years | $-14,434 |
| 19 years | $-14,172 |
| 21 years | $-13,910 |
| 23 years | $-13,648 |
| 25 years | $-13,386 |
Top Solar Installers in Westfield
Although it's possible to install solar panels on your own, it takes extra effort and handiness. Because of that, most homeowners choose to go with a solar panel installer. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Westfield
Factors that Affect Solar Panel Costs in Westfield
Though the average cost of a solar system in Westfield is $16,659, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,680 per kilowatt in Westfield. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 limited roof space 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. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over five to seven years on average. It's wise 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 back the loan.
Solar Panel Installation Company
The solar company you select will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you want and also fit into 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 | $14,840 | 11.0 years |
| 8 kW | $2.73 | $15,308 | $20,087 | 10.8 years |
| 10 kW | $2.68 | $18,760 | $25,483 | 10.6 years |
| 12 kW | $2.63 | $22,062 | $31,030 | 10.4 years |
| 14 kW | $2.57 | $25,213 | $36,727 | 10.2 years |
| 16 kW | $2.52 | $28,215 | $42,574 | 10.0 years |
| 18 kW | $2.47 | $31,067 | $48,572 | 9.8 years |
| 20 kW | $2.41 | $33,768 | $54,719 | 9.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Westfield, 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:
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
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 Westfield, IN Solar Cost FAQs
How much does it cost to install solar panels in Westfield?
This is a tough question to answer precisely, 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Westfield?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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 financial benefits from going solar.
Do solar panels increase your property value?
Solar panels can increase the value of your home 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."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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.