Solar Panels Cost 11k-22k in Cumberland, IN | October, 2024

Solar Panels Cost $11k-$22k in Cumberland, IN | October, 2024

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

Going solar in October, 2024 in Cumberland, IN averages out to $3.93/W.

Said another way, solar panel installations will cost you about $3,930 per 1 kW (or 1000 watts) of production capacity. In Cumberland, a 5 kW solar setup will set you back, on average, $13,755 after the 30% federal income tax credit. Please keep in mind that a bigger system may be necessary to satisfy your energy needs.

Select your county from the menu on the left to find the average roof size and maximum solar panel system capacity for homes in your area. Below, you can see a comprehensive outline of the costs, payback period, and 20-year typical 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.
Cumberland: $13,755US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Cumberland: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Cumberland: $9,683US Average: $15,784

Solar Potential in Cumberland

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

Roof size 679sq. ft.
Capacity 9.5kW DC
Electricity 11kkWh AC per yr.

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

Cumberland residents generally have an average monthly electric bill of $122.22 per month, with a typical usage of 933 kWh. Apartments and compact living spaces with lower energy requirements are covered in this statistic.

In October 2024, Cumberland, IN's average electricity rate amounts to 13.11¢ per kWh.

If your household consumes an average amount of electricity in Cumberland, you will want a solar panel system of 8 kW or higher to fully meet your entire electricity requirements. Right now, an 8 kW solar system will cost around $31,440 upfront, but the federal tax credit offers a 30% credit, the cost is $22,008.

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Average solar panel costs by system size in Cumberland

Displayed below and to the left is the cost analysis for various sizes of solar panel systems set up in Cumberland. The larger the solar array, the higher the initial expense, but also the more considerable electricity savings and income tax credits you'll gain.

The solar panel cost and benefit breakdown, shown in the calculator down and to the right, is based on an average electric bill of $122.22 in Cumberland. Modify the $122.22 to match your usual electricity bill payment for custom results.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $769 a year
Est. Price
$11,004
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
$13,755
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $80
  • Full payback in 9 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
$16,506
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $96
  • Full payback in 11 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
$19,257
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $112
  • Full payback in 13 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
$22,008
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $122
  • Full payback in 15 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

Cumberland Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can fund anywhere from 80% to 100% of the expenses associated with setting up solar energy or wind turbines for rural small businesses and farmlands. Confirm if you are eligible by trying our REAP Grant eligibility tool.

For those looking into residential solar, the 30% federal income tax credit is offered to most people, which makes solar a feasible option in many states. In conjunction with federal efforts, state and local programs help to promote the use of solar power.

In Indiana, 4 solar rebates and incentives are currently available from different utilities and government agencies.

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?

Intending to stay in your house beyond the solar payback period? Solar panels are a smart investment in Cumberland. A 5 kW solar system in Cumberland, IN could potentially save you $15,577.8 over the course of 20 years, with the break even point typically at 9 years.

The cost of not having solar panels in Cumberland, IN

Not installing solar panels or any other backup energy system leads to missing the previously noted savings and full dependence on your electric utility for electricity. Recent news examples have shown that full reliance on your utility provider is not always ideal.

The average number of outages per customer per year for utilities in Cumberland has been 1.17 recently. On average, each outage lasts for 128.27 minutes. Major events like heavy rain and flooding, construction accidents, or equipment failure can considerably extend these durations.

With or without a backup battery, a solar panel system could ease the stress of future power disruptions you might experience.

Power Outages

Currently, 0 customers are being tracked in Marion County.

Learn more

Customers Out:

0

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

Your Energy Needs - Larger solar panel systems require more upfront investment, but the cost per watt drops as the size of the system expands. Many homeowners find it useful to install a system that can produce enough electricity to replace the entirety of their electric bill. This approach makes the most sense for optimal savings.

Make & Model - Similar to many other products, there are different makes and models of solar panels and mounting equipment on the market. The installer you choose may have specific brand preferences, so it's important to select a highly rated installer. Buyers who prioritize better models generally enjoy a better long-term experience.

Solar Panel Type - It's not surprising that monocrystalline panels are now the industry standard. Despite the higher price tag, these panels provide greater energy output. Most installation experts use panels made from this material.

Your Property - Trees, irregular terrain, or additional challenges can increase the difficulty of the installation. Many solar installers today are able to leverage satellite imagery to evaluate your home and factor in these aspects in the initial cost estimate.

Labor Rates - Differences in employee wages across companies lead to expenses that are transferred to the consumers. Businesses that pay higher wages often get higher reviews for their work and customer service.

Permitting & Interconnection - The cost of installation will change depending on local permitting and utility interconnection fees. Experienced local installers will incorporate these numbers into your first quotes to avoid any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Cumberland?

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.

Cumberland, IN Solar Panel Cost FAQs

  • In Cumberland, IN, the mean cost per watt for solar panels as recorded in October, 2024 is $3.93/W. Installing a 5 kW solar panel system in Cumberland, IN will cost approximately $13,755 after applying the federal tax credit.

  • If you live in Indiana, you can find 4 rebates and incentives through different utilities and government agencies. Furthermore, almost all individuals are entitled to the 30% federal income tax credit.

  • While paying cash provides the most savings, various financing options for solar panels exist that also make financial sense. Financing options from installers will often be detailed in your initial quotes.

  • Yes, homeowners in Cumberland, IN generally see a payback time of 9 years for 5 kW solar panel systems, with electricity savings averaging $15,577.8 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01