Solar Panel Cost Guide in Winona Lake, IN (2025 Update)
- Winona Lake Solar Installation Cost: $25,775
- 25-Year Savings: $26,765
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Winona Lake
We go over average solar pricing in Winona Lake.
Although the national average of solar panels is $2.66 per watt, solar panels in Winona Lake typically cost around 4.The average Winona Lake homeowner needs a 9.0-kilowatt system, which would cost about $25,775 with the federal tax credit, or $36,858 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $18,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar panel company in Winona Lake for a custom quote.
Solar savings over time in Winona Lake
Year | Return on Investment |
---|---|
1 years | $-24,055 |
3 years | $-20,615 |
5 years | $-17,176 |
7 years | $-13,736 |
9 years | $-10,297 |
11 years | $-6,858 |
13 years | $-3,418 |
15 years | $21 |
17 years | $3,461 |
19 years | $6,900 |
21 years | $10,340 |
23 years | $13,779 |
25 years | $17,219 |
Top Solar Installers in Winona Lake
Although you can install solar panels by yourself, it involves extra energy and knowledge. For that reason, most people choose to go with a solar panel installer. Solar warranties and repairs are typically included in the cost of installation when you hire a solar company too, which can save you more money over time.
There are various 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
See all of the solar companies in Winona Lake
Factors that Affect Solar Panel Costs in Winona Lake
For many Winona Lake homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Winona Lake, with typical prices between $20,000 to $40,000. There are various factors that considerably 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 a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need 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 $4,100.The brand of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Winona Lake to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you pick will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Companies that 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 cost more. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for 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 | $4.26 | $17,909 | $11,229 | 15.4 years |
8 kW | $4.18 | $23,419 | $15,431 | 15.1 years |
10 kW | $4.10 | $28,700 | $19,863 | 14.8 years |
12 kW | $4.02 | $33,751 | $24,524 | 14.5 years |
14 kW | $3.94 | $38,573 | $29,415 | 14.2 years |
16 kW | $3.85 | $43,165 | $34,535 | 13.9 years |
18 kW | $3.77 | $47,527 | $39,885 | 13.6 years |
20 kW | $3.69 | $51,660 | $45,465 | 13.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose greatly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- 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 substantial role in the company you hire.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Winona Lake, IN Solar Cost FAQs
What is the average cost of installing solar panels in Winona Lake?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $20,500 for a 5-kW system and $41,000 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 higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.