Indiana Solar Panel Cost

Another calculation that potential solar buyers have to consider is the solar payback period.

Indiana solar panel cost.

The state capital of indianapolis for example averages at around 4 5 peak sun hours per day. This is 2 49 per watt. As of sep 2020 the average cost of solar panels in indiana is 2 49 per watt making a typical 6000 watt 6 kw solar system 11 038 after claiming the 26 federal solar tax credit now available. Indiana solar panel rebates are extremely limited as well.

If you re an ip l customer you are eligible for a solar power rebate of 1 000 kw up to 4 000. Indiana s average cost of a solar panel installation ranges from 12 878 to 17 422. Check your savings costs tax breaks incentives and rebates. The average cost of installing residential solar panels in indianapolis indiana in 2020 is 2 67 per watt the average system size in the us is 6 kilowatts which means the average price of a solar system in indianapolis in is 13 350.

Indiana gets a decent amount of sunlight over the year up to 5 peak sun hours per day to the south of the state and all of it represents potential solar energy savings for homeowners who invest in solar power. In fact in the entire state only ip l offers a rebate on the installation of a residential solar power system and the rebate program is set to expire at the end of 2014. Solar panel cost in indiana. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. As of september 2020 the average solar panel cost in indiana is 3 05 w given a solar panel system size of 5 kilowatts kw an average solar installation in indiana ranges in cost from 12 962 to 17 538 with the average gross price for solar in indiana coming in at 15 250 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net. The average cost for an installed residential solar system in indiana is currently 11 038 after claiming the 26 federal solar tax credit. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.

This is lower than the average price of residential solar power systems across the united states which is currently 2 60 per watt.