Solar Panel Cost Guide in Whiting, IN (2023 Update)
- Whiting Solar Installation Cost: $16,771
- 25-Year Savings: $31,051
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Whiting
Find out how much it might cost to switch to solar power in Whiting.
The average cost of solar panels in Whiting is 2.68 per watt. The average Whiting homeowner needs a 8.9-kilowatt system, which would cost about $16,771 with the federal tax credit, or $23,983 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Whiting homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $20,000 in savings on utility bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Whiting
| Year | Return on Investment |
|---|---|
| 1 years | $-14,859 |
| 3 years | $-11,033 |
| 5 years | $-7,207 |
| 7 years | $-3,381 |
| 9 years | $445 |
| 11 years | $4,270 |
| 13 years | $8,096 |
| 15 years | $11,922 |
| 17 years | $15,748 |
| 19 years | $19,573 |
| 21 years | $23,399 |
| 23 years | $27,225 |
| 25 years | $31,051 |
Top Solar Installers in Whiting
Many homeowners opt for a solar installer since trying to put up solar panels on your own can be hard. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. 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 Whiting
Factors that Affect Solar Panel Costs in Whiting
For many Whiting homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Whiting, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use 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 type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Whiting average.
Solar Financing Terms
Most solar installers in Whiting provide solar loans, which reduce your upfront costs of installing solar panels. It's wise to include 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you select will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. 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 come at a higher cost. It's best to do some research and decide on the 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 | $20,387 | 9.1 years |
| 8 kW | $2.73 | $15,308 | $27,483 | 8.9 years |
| 10 kW | $2.68 | $18,760 | $34,729 | 8.8 years |
| 12 kW | $2.63 | $22,062 | $42,125 | 8.6 years |
| 14 kW | $2.57 | $25,213 | $49,671 | 8.4 years |
| 16 kW | $2.52 | $28,215 | $57,367 | 8.2 years |
| 18 kW | $2.47 | $31,067 | $65,213 | 8.1 years |
| 20 kW | $2.41 | $33,768 | $73,210 | 7.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- 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 considerable role in the company you hire.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure 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 Whiting, IN Solar Cost FAQs
What is the average cost of installing solar panels in Whiting?
This is a hard question to answer exactly, because the cost depends on many 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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Whiting?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is going solar worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.