Solar Panel Cost Guide in Dyer, IN (2024 Update)
- Dyer Solar Installation Cost: $25,659
- 25-Year Savings: $31,050
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Dyer
Find out what the average cost of solar panel installation is in Dyer.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Dyer, the typical cost of a solar system is 4 per watt.To account for the typical energy usage of the average home in Dyer, most homeowners require a 8.9-kilowatt system. Using the figure above, a solar installation costs around $25,659, or $36,692 before the federal solar tax credit of 0 is applied.
These figures are just averages, and the cost of going solar for you may vary based on factors unique to your home and what company you go with.Even with the significant upfront cost, the average Dyer homeowner can save about $20,000 on their energy bills over 20 years, which is one of the benefits of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Dyer
| Year | Return on Investment |
|---|---|
| 1 years | $-23,940 |
| 3 years | $-20,500 |
| 5 years | $-17,061 |
| 7 years | $-13,621 |
| 9 years | $-10,182 |
| 11 years | $-6,742 |
| 13 years | $-3,303 |
| 15 years | $137 |
| 17 years | $3,576 |
| 19 years | $7,015 |
| 21 years | $10,455 |
| 23 years | $13,894 |
| 25 years | $17,334 |
Top Solar Installers in Dyer
Installing solar panels by yourself can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. Another good thing about going with a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
There are several 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 Dyer
Factors that Affect Solar Panel Costs in Dyer
Though the average cost of a solar system in Dyer is $25,659, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $4,100 per kilowatt in Dyer.There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Dyer homeowners decide to finance their solar panel systems to make paying for solar more affordable.Although solar loans make switching to solar energy more accessible for Dyer homeowners, they can also increase the total you pay for your system due to interest. 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 solar installer you choose will play a role in your total cost to make the switch to solar power. Different companies will charge 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 with an above-average cost. It’s best to do some research and go with the company that provides 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 | $4.26 | $17,909 | $14,185 | 14.0 years |
| 8 kW | $4.18 | $23,419 | $19,372 | 13.7 years |
| 10 kW | $4.10 | $28,700 | $24,789 | 13.4 years |
| 12 kW | $4.02 | $33,751 | $30,435 | 13.1 years |
| 14 kW | $3.94 | $38,573 | $36,312 | 12.9 years |
| 16 kW | $3.85 | $43,165 | $42,417 | 12.6 years |
| 18 kW | $3.77 | $47,527 | $48,753 | 12.3 years |
| 20 kW | $3.69 | $51,660 | $55,318 | 12.1 years |
How to Save on Solar Panels
There are a lot of 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: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you want to install plays a role in which company you should opt for, since different companies offer different panels.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Dyer, IN Solar Cost FAQs
What is the average cost of installing solar panels in Dyer?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Dyer?
You can’t get solar panels for free in Dyer. However, you may still be able to afford 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.
Does Dyer have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 larger level 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.