Solar Panels Cost 11k-23k in Bedford, IN | October, 2024

Solar Panels Cost $11k-$23k in Bedford, IN | October, 2024

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How much do solar panels cost in Bedford, IN in 2024?

For the month of October, 2024, the cost per watt for solar systems in Bedford, IN is $4.15/W.

Expect to pay $4,150, on average, for every 1000 watts (or 1 kW) of solar energy your system can generate. We are able to come to this conclusion by using this rate price cost per watt. In Bedford, the cost of a 5 kW solar system is typically $14,525, after the 30% federal tax credit. Please keep in mind that a more extensive system could be necessary to meet your energy requirements.

To the left, you can choose your county to view the average roof size and the maximum capacity of solar panels for houses in your area. Displayed below is an outline of the costs, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Bedford: $14,525US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Bedford: 10 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Bedford: $8,489US Average: $15,784

Solar Potential in Bedford

Estimated system size and solar electricity production per median viable roof in
Bedford.

Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.

Electricity Costs in Bedford, IN & What that Means for Your Solar Panel Pricing

Bedford residents generally consume 940 kWh of electricity each month, with bills around $121.83. These statistics also reflects the energy consumption patterns of smaller residences, such as apartments.

Bedford, IN's electricity rate is 12.96¢ per kWh in October 2024.

For the typical energy consumer in Bedford, a system size of 8 kW or more is needed to cover their full power consumption demands. Right now, an 8 kW solar panel installation will cost you approximately $33,200, but the federal tax credit reduces the price by 30%, making it $23,240.

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Average solar panel costs by system size in Bedford

On your left, you will see a detailed cost analysis for various solar panel system sizes set up in Bedford. When you opt for a bigger solar system, the cost is greater, but it also leads to more significant electricity savings and a larger income tax credit.

The calculator below and to the right offers a detailed summary of solar panel costs and benefits, based on an average electric bill of $121.83 in Bedford. Custom results can be achieved by changing the $121.83 to your usual bill amount.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $769 a year
Est. Price
$11,620
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $64
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 4.8 tons a year
  • Equivalent to planting 221 trees a year
  • Equivalent to driving 11,889 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $961 a year
Est. Price
$14,525
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $80
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 6 tons a year
  • Equivalent to planting 276 trees a year
  • Equivalent to driving 14,861 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,154 a year
Est. Price
$17,430
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $96
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 7.2 tons a year
  • Equivalent to planting 331 trees a year
  • Equivalent to driving 17,833 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,346 a year
Est. Price
$20,335
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $112
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 8.41 tons a year
  • Equivalent to planting 386 trees a year
  • Equivalent to driving 20,805 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,538 a year
Est. Price
$23,240
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $122
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 9.14 tons a year
  • Equivalent to planting 420 trees a year
  • Equivalent to driving 22,631 mi less a year

Bedford Solar Panel Installation Incentives & Rebates | 2024

If you run a small business or farm in a rural area, you could receive REAP Grant support that covers 80% to 100% of your solar or wind turbine installation costs. Believe you fit this category? Check your qualification with our REAP Grant eligibility tool.

Adding residential solar panels comes with a 30% federal tax credit, available to most homeowners, making it a good option for numerous areas across the country. Alongside federal efforts, state and local programs help to encourage the use of solar power.

Indiana features 4 solar rebate and incentive initiatives available from different utilities and government organizations.

Renewable Energy Property Tax Exemption

Value:Varies

Property tax exemptions apply in Indiana for solar, wind, geothermal, and hydroelectric power and thermal devices. (Solar devices installed before January 1, 2012 do not qualify for an exemption.) For most generation systems, exemptions will amount to the currently assessed value of the system (adjusted for depreciation.) Solar thermal, HVAC, or pool heating systems will be exempted at a fixed amount equal to parts and labor costs. Unique to Indiana, should the owner sell their property, exemptions will not apply to the new owner. Qualifying taxpayers may claim the exemption by filing Form 18865 with their county. Additional information is available from the Indiana Department of Local Government Finance website.

Community Conservation Challenge

Value:Varies

NOTE: This program is closed to new applicants. Indiana's Community Conservation Challenge is a grant program managed by the Office of Energy Development. Commercial, industrial, or agricultural property owners may be eligible for $20,000 - $80,000 to install new renewable energy systems or make energy efficiency improvements. Projects that may qualify for funding include green vehicles, HVAC, lighting, solar PV/thermal systems, and wind turbines. At least one community must partner with the property owner, and the completed project should be visible to the public eye. Additional information is available from the OED website.

NIPSCO - Feed-In Tariff

Value:Varies

NIPSCO pays feed-in tariffs to distributed renewable energy customers with systems rated for 3 kilowatts to one megawatt of capacity. Monthly compensation will take the form of a bill credit based on the amount of excess energy sent back to the grid. Unlike net metering, NIPSCO has greater control over how much of a customer's generated energy can be considered "excess." This control is to keep the grid stable. Customers must "opt in" to receive tariffs by filling out an application on the NIPSCO website and paying an administration fee based on system capacity; the current fee is $1 per kilowatt plus $25.

Clean Energy Portfolio Standard

Value:Varies

Indiana has adopted a non-binding renewable portfolio standard called the CHOICE. There have been three clean energy targets set with the final goal of sourcing 10% of the state's energy from renewable sources by 2025. Unique to the CHOICE standard, up to 30% of investments can be in cleaner conventional energy (natural gas, CHP, and clean coal). Participation in the CHOICE is completely voluntary. Interested utilities can register with the state's Utility Regulatory Commission to submit business and project plans. As a utility makes CHOICE investments, they will earn Clean Energy Credits pegging energy capacity to a fixed dollar value. Additional information is available from the CHOICE website.

Are solar panels worth it in Indiana?

If you're intending to stay in your home past the period required to pay back your solar investment, opting for solar panels is a wise decision in Bedford. A 5 kW system in Bedford, IN will enable you to save the average homeowner, on average, $14,714.2 over a 20 period and the average break even point is 10 years.

The cost of not having solar panels in Bedford, IN

In addition to forgoing the savings, the absence of solar panels or another backup energy source results in full dependence on your electric utility for your power needs. Recent news stories have demonstrated that complete dependence on your utility is not always ideal.

Lately, customers in Bedford have typically experienced 1.11 utility outages per year. The average duration of each outage is 144.96 minutes. During severe events like vandalism, overloaded power grids or landslides, these times can grow significantly longer.

Whether or not a backup battery is included, a solar panel system could ease the impact of future power outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Lawrence County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Bedford, IN?

Your Energy Needs - The upfront cost for larger solar panel systems is larger, but the cost per watt decreases as the system size increases. Many people find it advantageous to set up a solar energy system that can fully cover their entire electric bill. This ensures optimal savings.

Make & Model - Similar to other items, solar panels come in a variety of makes and models. As your installer may prefer certain systems, it's essential to choose a reputable contractor. Higher quality makes and models often result in a more satisfactory long-term experience for buyers.

Solar Panel Type - For numerous good reasons, monocrystalline panels are now the standard in the industry. They are associated with a higher price, but they provide more energy. Most solar panel installers opt for this kind of material.

Your Property - Elements such as trees, sloping terrain, or other obstructions might complicate the installation process. Using satellite imagery, solar installers can now assess your home and include these considerations into the initial cost estimate.

Labor Rates - Different companies have varying pay scales for their employees, and these costs are ultimately passed on to consumers. Businesses that invest in higher wages often see higher reviews for their work and customer service.

Permitting & Interconnection - Local permitting and utility level interconnection fees change by area and will affect your final install price. Experienced local installers will incorporate these numbers into your first quotes to prevent any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Bedford?

YellowLite

Cleveland, OH(877) 743-8757

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Icon Solar

Milford, OH(513) 396-7777

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Bedford, IN Solar Panel Cost FAQs

  • As of October, 2024, the average cost for solar panels in Bedford, IN is $4.15/W. In Bedford, IN, installing a 5 kW solar panel system will set you back approximately $14,525 after federal tax incentives.

  • Utilities and government agencies in Indiana are currently offering 4 different rebates and incentives. Furthermore, almost all individuals are entitled to the 30% federal income tax credit.

  • Opting to pay in cash provides the highest savings, but there are now various financing options for solar panels that are financially beneficial. Many installers will detail information about financing options in their initial quotes.

  • Yes, in Bedford, IN, the average payback period for 5 kW solar panels is 10 years, resulting in average electricity savings of $14,714.2 over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01