Solar Panel Cost Guide in Lakes of the Four Seasons, IN (2024 Update)
- Lakes of the Four Seasons Solar Installation Cost: $25,653
- 25-Year Savings: $28,524
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Lakes of the Four Seasons
Let’s take a look at the average cost of solar panels in Lakes of the Four Seasons.
The average cost of a solar system in Lakes of the Four Seasons is 4 per watt.Using this figure, a typical 8.9-kW system would cost about $25,653 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with.But, after you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $19,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lakes of the Four Seasons
| Year | Return on Investment |
|---|---|
| 1 years | $-23,933 |
| 3 years | $-20,494 |
| 5 years | $-17,054 |
| 7 years | $-13,615 |
| 9 years | $-10,175 |
| 11 years | $-6,736 |
| 13 years | $-3,296 |
| 15 years | $143 |
| 17 years | $3,582 |
| 19 years | $7,022 |
| 21 years | $10,461 |
| 23 years | $13,901 |
| 25 years | $17,340 |
Top Solar Installers in Lakes of the Four Seasons
Trying to put up solar panels by yourself can be a dangerous project, which is why hiring a solar installation company is a good option for many homeowners. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Lakes of the Four Seasons:
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 Lakes of the Four Seasons
Factors that Affect Solar Panel Costs in Lakes of the Four Seasons
The cost of installing a solar system in Lakes of the Four Seasons can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $4,100. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 will be looking at 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
If paying for a solar system in cash is too expensive, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating in Lakes of the Four Seasons, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,494 | 14.7 years |
| 8 kW | $4.18 | $23,419 | $17,118 | 14.4 years |
| 10 kW | $4.10 | $28,700 | $21,972 | 14.2 years |
| 12 kW | $4.02 | $33,751 | $27,055 | 13.9 years |
| 14 kW | $3.94 | $38,573 | $32,367 | 13.6 years |
| 16 kW | $3.85 | $43,165 | $37,910 | 13.3 years |
| 18 kW | $3.77 | $47,527 | $43,682 | 13.0 years |
| 20 kW | $3.69 | $51,660 | $49,683 | 12.7 years |
How to Save on Solar Panels
There are many companies available in Lakes of the Four Seasons, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
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 Lakes of the Four Seasons, IN Solar Cost FAQs
What is the average cost of installing solar panels in Lakes of the Four Seasons?
This is a hard question to answer exactly, because the cost depends on a few different 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. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider 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 why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Lakes of the Four Seasons?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.