Solar Panel Cost Guide in Lake Station, IN (2024 Update)

  • Lake Station Solar Installation Cost: $25,659
  • 25-Year Savings: $31,050
  • Payback Period: 13.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lake Station

Find out what the average cost of installing solar panels is in Lake Station.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Station, the average cost of solar panels is 4 per watt.To account for the typical energy needs of the average home in Lake Station, most homeowners require a 8.9-kilowatt system. Using the figure above, a solar installation costs about $25,659, or $36,692 before the federal solar tax credit of 0 is applied.

The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.For most homeowners, the upfront cost of solar panels is worth paying. On average Lake Station homeowners see about $20,000 in savings on energy bills over 20 years.

You can click the button below to get connected with a top solar company in Lake Station that can help you get a more accurate cost estimate for your home.

Solar savings over time in Lake Station

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 Lake Station

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar company can make swapping over to solar power much easier. Plus, if you’d like to maximize your investment in solar power, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.

There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Lake Station

Factors that Affect Solar Panel Costs in Lake Station

While the average cost of a solar system in Lake Station is $25,659, your actual cost may be higher or lower than that. There are several 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 keep in mind.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The kind 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, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Lake Station average.

Solar Financing Terms

Most solar installers in Lake Station provide solar loans, which reduce the initial cost of installing solar panels.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Lake Station, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.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 cost more. It’s best to do some research and go with the company that has the products, warranties and services you want 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

Since the kind of solar panels and the company you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Installation Process: When making the switch to solar, it’s important to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project timeline.
  • Contract: Before signing a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Lake Station, IN Solar Cost FAQs

What is the average cost of installing solar panels in Lake Station?

The average cost of solar panels in Lake Station is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider aside from cost when buying solar panels?

Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Is it worth going solar in Lake Station?

Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.

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 how much sunlight your roof gets. You can take a 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 account for 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.

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