Solar Panel Cost Guide in Fort Wayne, IN (2024 Update)
- Fort Wayne Solar Installation Cost: $25,765
- 25-Year Savings: $22,360
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Fort Wayne
Find out what the average cost of solar panels are in Fort Wayne.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fort Wayne, the typical cost of solar panels is 4 per watt.Using this figure, a typical 9.0-kW system would cost about $25,765 before the 0 federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Fort Wayne based on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar is worth paying. On average Fort Wayne homeowners see about $17,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Fort Wayne
| Year | Return on Investment |
|---|---|
| 1 years | $-24,147 |
| 3 years | $-20,912 |
| 5 years | $-17,677 |
| 7 years | $-14,443 |
| 9 years | $-11,208 |
| 11 years | $-7,973 |
| 13 years | $-4,738 |
| 15 years | $-1,503 |
| 17 years | $1,732 |
| 19 years | $4,967 |
| 21 years | $8,201 |
| 23 years | $11,436 |
| 25 years | $14,671 |
Top Solar Installers in Fort Wayne
When switching to solar energy, many homeowners decide to use a solar installer since installing solar panels yourself can be a time-consuming project. Plus, if you’d like to maximize your investment in solar energy, going with a solar installer can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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 Fort Wayne
Factors that Affect Solar Panel Costs in Fort Wayne
For many Fort Wayne homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Fort Wayne, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Fort Wayne, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $4,100 for each additional kilowatt you need.The brand and kind of equipment you choose 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Fort Wayne to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.It’s a good idea to add 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 off the loan.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Fort Wayne, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $8,292 | 17.1 years |
| 8 kW | $4.18 | $23,419 | $11,515 | 16.8 years |
| 10 kW | $4.10 | $28,700 | $14,968 | 16.4 years |
| 12 kW | $4.02 | $33,751 | $18,650 | 16.1 years |
| 14 kW | $3.94 | $38,573 | $22,562 | 15.8 years |
| 16 kW | $3.85 | $43,165 | $26,703 | 15.4 years |
| 18 kW | $3.77 | $47,527 | $31,074 | 15.1 years |
| 20 kW | $3.69 | $51,660 | $35,675 | 14.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The brand of solar panel you want to get plays a role in which installer you should choose, since different companies have access to different panels.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
Best National Provider
SunPower
- 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
- 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 Fort Wayne, IN Solar Cost FAQs
What is the average cost of installing solar panels in Fort Wayne?
This is a tough question to answer precisely, because the cost depends on many 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 extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Fort Wayne?
Leasing solar panels can be an option if you are unable to pay upfront or get 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.
Can you sell solar power back to the grid in Fort Wayne?
Most states have net metering programs of some kind. Through these, you can either 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 long do solar panels last in Fort Wayne?
On average, the lifespan of solar panels is 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.