Solar Panels Cost 17k-29k in Bright CDP, IN | October, 2024

Solar Panels Cost $17k-$29k in Bright CDP, IN | October, 2024

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How much do solar panels cost in Bright CDP, IN in 2024?

To get a solar system averages out to $4.23 per watt in Bright CDP, IN in October, 2024.

It will cost you $4,230, on average, per 1000 watts (1 kW) of capacity that your solar panels have. After receiving the 30% federal tax credit, you can expect to pay about $14,805, in Bright CDP, for a 5 kW solar panel install. Keep in mind that a larger system may be necessary to adequately cover your energy demands.

Select your county from the menu on the left to determine the average roof size and maximum solar panel system capacity for homes in your area. Displayed below is an analysis of the price, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Bright CDP: $14,805US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Bright CDP: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Bright CDP: $16,741US Average: $15,784

Solar Potential in Bright CDP

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

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

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

Bright CDP residents generally have an average monthly electric bill of $157.88 per month, with an average consumption of 1,119 kWh. Smaller homes, including condos and bungalows, are also part of the numbers mentioned in the previous sentence.

In October 2024, the average electricity rate in Bright CDP, IN is 14.11¢ per kWh.

The typical electricity consumer in Bright CDP has to have a 10 kW or larger solar setup to cover their full electricity usage demands. Right now, a 10 kW setup is priced at around $42,300 initially, but after the 30% federal tax credit, the total comes to $29,610.

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Average solar panel costs by system size in Bright CDP

To the left below, you can see the price breakdown for different sizes of solar panel systems set up in Bright CDP. With bigger solar systems, the price rises, but so do the electricity savings and the income tax credits you can gain.

The cost-benefit analysis for solar panels, presented in the calculator down and to the right, is based on an average electric bill of $157.88 in Bright CDP. Replace the $157.88 with your usual electricity bill for more accurate results.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,242 a year
Est. Price
$17,766
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $104
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 5.99 tons a year
  • Equivalent to planting 275 trees a year
  • Equivalent to driving 14,829 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,449 a year
Est. Price
$20,727
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $121
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 6.99 tons a year
  • Equivalent to planting 321 trees a year
  • Equivalent to driving 17,300 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,656 a year
Est. Price
$23,688
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $138
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 7.99 tons a year
  • Equivalent to planting 367 trees a year
  • Equivalent to driving 19,772 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,864 a year
Est. Price
$26,649
Savings from a 9kWthis system
  • Est. yearly production 13,311 kWh
  • Est. monthly savings $155
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 8.99 tons a year
  • Equivalent to planting 413 trees a year
  • Equivalent to driving 22,243 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,071 a year
Est. Price
$29,610
Savings from a 10kWthis system
  • Est. yearly production 14,790 kWh
  • Est. monthly savings $158
  • 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

Bright CDP Solar Panel Installation Incentives & Rebates | 2024

Small businesses and agricultural enterprises in rural areas may see between 80% and 100% of their solar energy or wind turbine installation costs covered by the REAP Grant. Think you might qualify? Use our REAP Grant eligibility tool to confirm your eligibility.

A 30% federal tax credit is accessible to most homeowners for residential solar installations, which renders solar energy a feasible choice in various regions throughout the United States. Moreover, there are various state and local incentives to further encourage the adoption of solar energy.

A total of 4 solar rebates and incentives are available in Indiana through multiple utility companies 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 plan to own your residence longer than the solar system's payback period, solar panels are a good investment in Bright CDP. A 5 kW system in Bright CDP, IN will save the average homeowner, on average, $23,086.2 over a 20 period and the average break even point is 8 years.

The cost of not having solar panels in Bright CDP, IN

Besides missing out on the previously mentioned savings, not installing solar panels or a separate backup energy source results in complete dependence on your electric utility for electricity. Recent news has proven that total reliance on your utility company isn't always ideal.

The average number of outages per customer per year in Bright CDP is 1.35. Typically, outages have an average duration of 192.27 minutes. However, during significant events such as earthquakes, vandalism, or overloaded power grids, these times can drastically increase.

Having a solar panel system, with or without a backup battery, could alleviate the strain of any future outages you may experience.

Power Outages

Currently, 0 customers are being tracked in Dearborn County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Bright CDP, IN?

Your Energy Needs - While the upfront cost is greater, the price per watt drops with larger solar panel systems. Homeowners often find that installing a solar system that can offset their entire electric bill is advantageous, leading to optimal savings.

Make & Model - Just like other industries, the solar energy sector features a range of solar panel brands and designs. Picking an installer with certain system preferences means it's even more important crucial to go with a reputable contractor. Buyers often find that utilizing better quality materials leads to a more positive long-term experience.

Solar Panel Type - It's not surprising that monocrystalline panels are now the standard in the industry. Even with a higher cost, this technology produce more energy. The majority of installers choose panels crafted using this material.

Your Property - Elements such as trees, uneven landscapes, or other hindrances might complicate the installation process. Nowadays, solar installers commonly leverage satellite images to assess your home and factor in these factors into the preliminary cost estimate.

Labor Rates - The costs related to the different wages offered by companies to their employees are borne by the consumers. Businesses that pay higher wages often get higher reviews for their services and customer service.

Permitting & Interconnection - Regional differences in permitting and utility interconnection fees will impact your installation cost. Good local installers will build these figures into your preliminary estimates to prevent any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Bright CDP?

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.

Bright CDP, IN Solar Panel Cost FAQs

  • As recorded in October, 2024, the standard cost for solar panel installations in Bright CDP, IN is $4.23/W. A 5 kW solar panel system will cost you around $14,805 in Bright CDP, IN after the federal tax credit is applied.

  • Utilities and government agencies in Indiana are currently offering 4 different rebates and incentives. Moreover, the 30% federal tax credit is accessible to nearly everyone.

  • Even though paying cash provides the most savings, there are now multiple financing options for solar panels that also are cost-effective. Initial quotes from installers will frequently detail information about available financing options.

  • Yes, the average 5 kW solar panel payback time in Bright CDP, IN is 8 years, with expected savings of $23,086.2 on electricity over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01