Solar Panels Cost 5.8k-17k in Chesterton, IN | October, 2024

Solar Panels Cost $5.8k-$17k in Chesterton, IN | October, 2024

High Power Bills?

Reduce or replace your electricity bill with solar

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

Going solar is about $4.17 per watt in October, 2024 in Chesterton, IN.

Or in other words, solar panel installations will cost you about $4,170 per 1 kW (or 1000 watts) of production capacity. In Chesterton, after the 30% federal income tax credit, a 5 kW solar installation sets you back $14,595. Please consider, a 5kW system may not be sufficient to fulfill your energy requirements.

To the left, you have the option to select your county and find the average roof size along with the average maximum capacity for solar panels in homes in your area. Below, you can find a complete summary of the price, payback period, and 20-year typical 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.
Chesterton: $14,595US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Chesterton: 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.
Chesterton: $7,782US Average: $15,784

Solar Potential in Chesterton

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

Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.5kkWh AC per yr.

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

Energy consumers in Chesterton pay an average of $119.30 per month for electricity, consuming 654 kWh on average. Please note that this figure also encompasses data from smaller residential units, including apartments.

For October 2024, the mean electricity rate in Chesterton, IN is 18.25¢ per kWh.

If you’re a typical electricity consumer in Chesterton, you may need a solar panel system sized at 6 kW or larger to account for all your electricity needs. The initial cost for a 6 kW solar panel system will be $25,020, but with a 30% tax credit, your cost is reduced to $17,514.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Chesterton

On the left side, you'll see a detailed price breakdown of the multiple sizes of solar panel systems set up in Chesterton. The investment for a larger solar panel setup is greater, but it also provides greater electricity savings and more substantial income tax credits.

The calculator down and to the right offers a detailed summary of solar panel costs and benefits, based on an average electric bill of $119.30 in Chesterton. Change the $119.30 to your usual electricity bill payment for results that are personalized.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $532 a year
Est. Price
$5,838
Savings from a 2kWthis system
  • Est. yearly production 2,958 kWh
  • Est. monthly savings $44
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 3.41 tons a year
  • Equivalent to planting 157 trees a year
  • Equivalent to driving 8,438 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $799 a year
Est. Price
$8,757
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $67
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 5.11 tons a year
  • Equivalent to planting 235 trees a year
  • Equivalent to driving 12,657 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,065 a year
Est. Price
$11,676
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $89
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 6.82 tons a year
  • Equivalent to planting 313 trees a year
  • Equivalent to driving 16,876 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,331 a year
Est. Price
$14,595
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $111
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 8.52 tons a year
  • Equivalent to planting 391 trees a year
  • Equivalent to driving 21,095 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,597 a year
Est. Price
$17,514
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $119
  • Full payback in 12 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

Chesterton Solar Panel Installation Incentives & Rebates | 2024

Eligible rural small businesses and agricultural operations might have their solar or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. If you think you might be eligible, try our REAP Grant eligibility tool to check your qualification.

With the 30% federal income tax credit, nearly all homeowners are eligible for residential solar, making it a practical option in many regions in the United States. Moreover, several state and local efforts are in place to further boost the adoption of solar energy.

Multiple utilities and government bodies in Indiana have 4 solar rebate and incentive programs.

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 expect living in your home longer than the solar system's payback period, adding solar panels is an smart decision in Chesterton. By installing a 5 kW solar system in Chesterton, IN, you can expect to save roughly $14,037 over 20 years, with the break even point generally being 10 years.

The cost of not having solar panels in Chesterton, IN

The lack of solar panels or another energy backup means you'll forgo the earlier mentioned savings and be entirely reliant on your electric utility for power. The media has highlighted several cases where complete reliance on your utility isn't always the best scenario.

Lately, the average number of utility outages per customer in Chesterton has been 0.95 annually. The average duration of each outage is 143 minutes. During severe events like lightning strikes, wildlife damage, or overloaded power grids, these times can grow significantly longer.

Even without a backup battery, a solar panel system could relieve the strain of possible future power disruptions you may face.

Power Outages

Currently, 0 customers are being tracked in Porter County.

Learn more

Customers Out:

0

Go Solar for less than your cell phone bill.

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

Your Energy Needs - Larger solar panel systems have a higher upfront cost, but the cost per watt declines as the system size increases. Individuals often find that installing a solar system that can fully cover their electric bill is very advantageous. This method ensures increased savings.

Make & Model - Just like many products, solar panels are available in a variety of makes and models. The potential system preferences of your chosen installer make it essential to choose a highly rated installer. Choosing superior quality materials can result in a much better long-term experience for the buyer.

Solar Panel Type - For good reasons, monocrystalline panels have become the industry standard. Although they are costlier, they generate increased energy. Most installers utilize panels made of this material.

Your Property - Each property and home has its own unique features. Trees, uneven land, or other challenges may add to the difficulty of the installation. Currently, satellite images allow the majority of solar installers to evaluate your home and include these considerations into the preliminary cost estimate.

Labor Rates - Companies pay different wages to their employees, and these costs are eventually borne by the consumers. Higher reviews for services and customer service are generally associated with businesses that pay higher wages.

Permitting & Interconnection - The cost of installation will be affected by different local permitting and utility interconnection fees. That said, reputable local installers will be able to integrate these numbers into your preliminary quotes so there are no surprises.

See what solar panels cost in other IN cities

Go Solar for less than your cell phone bill.

Who are the best solar installers in Chesterton?

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

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

GRNE Solar

Palatine, IL(312) 859-3417

Services

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

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

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

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

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

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.

Chesterton, IN Solar Panel Cost FAQs

  • As of October, 2024, the average per-watt cost for solar panels in Chesterton, IN is $4.17/W. The approximate cost of a 5 kW solar panel system in Chesterton, IN, after deducting federal tax credits, is $14,595.

  • Right now, Indiana has 4 rebates and incentives available through a variety of utility companies and government entities. Furthermore, almost all individuals are entitled to the 30% federal income tax credit.

  • Cash payments offer the highest savings, yet numerous financing options now available for solar panels are cost-effective as well. Installers frequently offer financing options and will include them in your initial quotes.

  • Yes, the average 5 kW solar panel payback time in Chesterton, IN is 10 years, with expected savings of $14,037 on electricity over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01