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

  • Winona Lake Solar Installation Cost: $25,775
  • 25-Year Savings: $26,765
  • Payback Period: 14.8 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 Winona Lake

We go over average solar pricing in Winona Lake.

Although the national average of solar panels is $2.66 per watt, solar panels in Winona Lake generally cost about 4.Because a 9.0-kW system is needed to cover the energy costs of a typical home in Winona Lake, the average price of going solar will be about $25,775 after claiming the federal solar tax credit of 0.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want, your solar contractor and more.With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Winona Lake find going solar can pay off big.

Click the button below to get connected to a highly rated solar installer in your area for a custom estimate.

Solar savings over time in Winona Lake

Year Return on Investment
1 years $-24,055
3 years $-20,615
5 years $-17,176
7 years $-13,736
9 years $-10,297
11 years $-6,858
13 years $-3,418
15 years $21
17 years $3,461
19 years $6,900
21 years $10,340
23 years $13,779
25 years $17,219

Top Solar Installers in Winona Lake

Installing solar panels on your own can be a difficult undertaking, which is why hiring a solar installer is a good option for many homeowners. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.

You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:

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 Winona Lake

Factors that Affect Solar Panel Costs in Winona Lake

There are a number of factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $4,100 per kilowatt in Winona Lake.There are several different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Winona Lake to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The solar company you pick will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Companies that only sell high-quality, high-efficiency and high-price products — 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 choose a company that provides the products, warranties and services you’re looking for and also fit into 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 $11,229 15.4 years
8 kW $4.18 $23,419 $15,431 15.1 years
10 kW $4.10 $28,700 $19,863 14.8 years
12 kW $4.02 $33,751 $24,524 14.5 years
14 kW $3.94 $38,573 $29,415 14.2 years
16 kW $3.85 $43,165 $34,535 13.9 years
18 kW $3.77 $47,527 $39,885 13.6 years
20 kW $3.69 $51,660 $45,465 13.3 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:

  • Warranty: If you’re worried about the endurance of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
  • Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.

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 Winona Lake, IN Solar Cost FAQs

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

This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

What other factors should I consider in addition to cost 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 your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Is making the switch to solar worth it?

Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.

How often do you have to replace solar panels?

On average, solar panels can last 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 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.

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