Solar Panel Cost Guide in Peru, IN (2024 Update)
- Peru Solar Installation Cost: $25,582
- 25-Year Savings: $23,988
- Payback Period: 15.7 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Peru
We break down average solar pricing in Peru.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Peru, the typical cost of a solar system is 4 per watt.The average solar panel system size in Peru is around 8.9 kilowatts, meaning a cost of about $25,582 for a solar installation, or $36,582 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on power bills.
To get a free quote from a vetted solar company in Peru, you can click the button below.
Solar savings over time in Peru
Year | Return on Investment |
---|---|
1 years | $-24,256 |
3 years | $-21,605 |
5 years | $-18,954 |
7 years | $-16,303 |
9 years | $-13,652 |
11 years | $-11,000 |
13 years | $-8,349 |
15 years | $-5,698 |
17 years | $-3,047 |
19 years | $-396 |
21 years | $2,256 |
23 years | $4,907 |
25 years | $7,558 |
Top Solar Installers in Peru
Many homeowners choose to hire a solar installation company since installing solar panels yourself can be challenging. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar company as well, which can save you more money after your upfront investment.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 Peru
Factors that Affect Solar Panel Costs in Peru
The cost of installing a solar system in Peru can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel 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 nearly $4,100. The kind of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also increases your all-in costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $9,494 | 16.3 years |
8 kW | $4.18 | $23,419 | $13,118 | 16.0 years |
10 kW | $4.10 | $28,700 | $16,971 | 15.7 years |
12 kW | $4.02 | $33,751 | $21,054 | 15.4 years |
14 kW | $3.94 | $38,573 | $25,367 | 15.1 years |
16 kW | $3.85 | $43,165 | $29,909 | 14.8 years |
18 kW | $3.77 | $47,527 | $34,681 | 14.5 years |
20 kW | $3.69 | $51,660 | $39,682 | 14.1 years |
How to Save on Solar Panels
There are many 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: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Peru, IN Solar Cost FAQs
How much does it cost to install solar panels in Peru?
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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Peru?
Solar panels aren’t free in Peru, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Peru have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces 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 many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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 get between 20 and 35 panels to cover 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.