Solar Panels Cost 8.7k-20k in Decatur, IN | October, 2024

Solar Panels Cost $8.7k-$20k in Decatur, IN | October, 2024

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

The current cost per watt of solar panel systems in Decatur, IN in October, 2024 is estimated at $4.18/W.

For every 1000 watts (1 kW) your solar system can generate, you will need to invest, on average, $4,180 for its installation. You can come up with this number based on this rate price cost per watt. When you subtract the 30% federal tax credit, you will pay around $14,630, in Decatur, for a 5 kW solar system. To adequately cover your energy consumption, you could require more than a 5kW system.

To the left, you have the option to select your county and see the typical roof size along with the average maximum capacity for residential solar in homes in your area. See below a full outline of the {price|costs, 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.
Decatur: $14,630US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Decatur: 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.
Decatur: $10,646US Average: $15,784

Solar Potential in Decatur

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

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

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

The standard monthly kWh used in Decatur is 813, resulting in an average electric bill of around $131.44. Apartments and other smaller residences with diminished energy usage are covered in this statistic.

The average electricity rate in Decatur, IN in October 2024 is 16.17¢ per kWh.

In Decatur, the typical energy user requires a solar power setup of 7 kW or higher to take care of their entire energy demands. Right now, a 7 kW solar system will have an initial cost of about $29,260 before incentives, but the federal income tax credit will provide a 30% reimbursement, lowering the cost to $20,482.

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Average solar panel costs by system size in Decatur

On your left, we have displayed a detailed pricing details for different solar panel system sizes set up in Decatur. Even though a larger solar installation carries a higher price tag, it also provides increased electricity savings and more substantial income tax credits.

The solar panel cost calculator below and to the right details costs and benefits, using an average $131.44 electric bill in Decatur To get custom results, change the $131.44 to match your typical electricity payment.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $710 a year
Est. Price
$8,778
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $59
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 3.98 tons a year
  • Equivalent to planting 183 trees a year
  • Equivalent to driving 9,861 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $947 a year
Est. Price
$11,704
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $79
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 5.31 tons a year
  • Equivalent to planting 244 trees a year
  • Equivalent to driving 13,148 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,183 a year
Est. Price
$14,630
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $99
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 6.64 tons a year
  • Equivalent to planting 305 trees a year
  • Equivalent to driving 16,435 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,420 a year
Est. Price
$17,556
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $118
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 7.97 tons a year
  • Equivalent to planting 366 trees a year
  • Equivalent to driving 19,722 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,656 a year
Est. Price
$20,482
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $131
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 8.82 tons a year
  • Equivalent to planting 405 trees a year
  • Equivalent to driving 21,836 mi less a year

Decatur Solar Panel Installation Incentives & Rebates | 2024

For rural small businesses and farms, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Curious if you fall into this category? Check your eligibility with our REAP Grant eligibility tool.

Most residents can qualify for a 30% federal income tax credit for residential solar, making it a feasible option in numerous areas of the United States. A variety of regional and state programs exist to encourage solar energy adoption.

In Indiana, different utilities and government organizations offer 4 solar rebate and incentive initiatives.

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 planning to live in your home past the solar system's payback period, solar panels are a good decision in Decatur. A 5 kW solar system in Decatur, IN might save you an average of $16,915.6 over 20 years, with the break even point generally being 9 years.

The cost of not having solar panels in Decatur, IN

Beyond missing out on the savings noted above, the absence of solar panels or another backup energy solution leads to total dependency on your electric utility for power. As illustrated by recent news, total dependence on your utility is not always the best option.

There are about 1.32 outages per customer annually in Decatur. The typical duration of each outage is 260.05 minutes. When significant events such as tornadoes, grid management errors, or construction accidents occur, these time frames can become much longer.

Whether a backup battery is included or not, a solar panel system could ease the pressure of possible future outages.

Power Outages

Currently, 0 customers are being tracked in Adams County.

Learn more

Customers Out:

0

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

Your Energy Needs - With larger solar panel systems, the cost per watt decreases, despite the higher upfront expense. Many people find it useful to install a solar energy system that can replace their entire electric bill. This results in greater savings.

Make & Model - There are a variety of makes and models of solar panels and mounting equipment. The contractor’s preference for system makes it important to choose a reputable contractor. Higher grade models usually provide an enhanced long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels have taken over as the standard in the industry, and it's not hard to see why. These panels cost more but offer a higher energy efficiency. The majority of installers in the industry work with panels constructed of this material.

Your Property - Every property and home is distinct. Trees, rough terrain, or other challenges can make the installation more difficult. Nowadays, the majority of solar installers can leverage satellite imagery to assess your home and include these aspects into the preliminary cost estimate.

Labor Rates - The pay that various companies offer their employees differ, and these costs are borne by the consumers. Companies paying more to their employees frequently get higher reviews for their work and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which differ by area, will affect your installation cost. That said, experienced local installers will be able to incorporate these numbers into your initial quotes so there are no surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Decatur?

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.

Decatur, IN Solar Panel Cost FAQs

  • As recorded in October, 2024, the standard cost for solar panel installations in Decatur, IN is $4.18/W. After the federal tax credit, the estimated cost for a 5 kW solar panel system in Decatur, IN is roughly $14,630.

  • Residents of Indiana can currently take advantage of 4 rebates and incentives offered by various utilities and government bodies. Additionally, the vast majority qualify for the 30% federal tax credit.

  • Paying cash provides the highest savings, but there are now several financing options for solar panels that are also cost-effective. Many installers work with financing partners and will provide this information in your initial quotes.

  • Yes, in Decatur, IN, 5 kW solar panel systems usually pay off in 9 years, providing an average electricity cost savings of $16,915.6 over a 20-year period.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01