Solar Panel Cost Guide in Nappanee, IN (2024 Update)
- Nappanee Solar Installation Cost: $25,854
- 25-Year Savings: $26,713
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Nappanee
We go over average solar pricing in Nappanee.
Although the national average of solar panels is $2.66 per watt, solar panels in Nappanee typically cost about 4.To cover the typical energy needs of the average home in Nappanee, most homeowners require a 9.0-kilowatt system. Using the figure above, a solar installation costs about $25,854, or $36,971 before the federal solar tax credit of 0 is applied.
The true cost of your system can be higher or lower than the average in Nappanee based on a variety of factors, such as the type of solar panels you choose and the solar company you hire.For many homeowners, the upfront cost of solar power is worth paying. On average Nappanee homeowners see about $18,000 in savings on utility bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Nappanee
| Year | Return on Investment |
|---|---|
| 1 years | $-24,134 |
| 3 years | $-20,695 |
| 5 years | $-17,256 |
| 7 years | $-13,816 |
| 9 years | $-10,377 |
| 11 years | $-6,937 |
| 13 years | $-3,498 |
| 15 years | $-58 |
| 17 years | $3,381 |
| 19 years | $6,821 |
| 21 years | $10,260 |
| 23 years | $13,699 |
| 25 years | $17,139 |
Top Solar Installers in Nappanee
Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be a lot of work. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
Working with a vetted solar installer can make going solar easier. 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 Nappanee
Factors that Affect Solar Panel Costs in Nappanee
There are several factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,100. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Nappanee homeowners choose to finance their solar panel systems to offset upfront costs.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Nappanee is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Nappanee know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $11,139 | 15.4 years |
| 8 kW | $4.18 | $23,419 | $15,311 | 15.1 years |
| 10 kW | $4.10 | $28,700 | $19,713 | 14.8 years |
| 12 kW | $4.02 | $33,751 | $24,344 | 14.5 years |
| 14 kW | $3.94 | $38,573 | $29,205 | 14.2 years |
| 16 kW | $3.85 | $43,165 | $34,296 | 13.9 years |
| 18 kW | $3.77 | $47,527 | $39,616 | 13.6 years |
| 20 kW | $3.69 | $51,660 | $45,166 | 13.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Companies that have been in business 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.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Nappanee, IN Solar Cost FAQs
How much does it cost to install solar panels in Nappanee?
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. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Nappanee?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 savings from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.