Solar Panels Cost 5.7k-17k in East Chicago, IN | October, 2024

Solar Panels Cost $5.7k-$17k in East Chicago, IN | October, 2024

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How much do solar panels cost in East Chicago, IN in 2024?

Having solar installed costs $4.09/W in East Chicago, IN in October, 2024.

It will cost $4,090, on average, per 1000 watts (1 kW) of capacity that your solar panels have. With a 30% federal tax credit, the typical price for a 5 kW solar installation in East Chicago is approximately $14,315. Depending on your energy usage habits, you may need a bigger system.

To the left, you can choose your county to see the typical roof size and average maximum capacity for residential solar on homes in your area. You can also see an overview of the costs, payback period and 20 year average savings for a 5 kW system in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
East Chicago: $14,315US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
East Chicago: 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.
East Chicago: $8,182US Average: $15,784

Solar Potential in East Chicago

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

Roof size 572sq. ft.
Capacity 8kW DC
Electricity 8.8kkWh AC per yr.

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

On average, East Chicago residents use 654 kWh each month, and the electric bill is $119.30. Keep in mind that apartments and smaller dwellings, which generally have reduced energy requirements, are included in this statistic.

The electricity rate per kWh in East Chicago, IN for October 2024 is on average 18.25¢.

In East Chicago, a typical electricity user's needs will usually be entirely accounted for by a solar panel system of 6 kW or more. Upfront, a 6 kW setup will cost you $24,540, but after the 30% federal tax credit, the total cost is $17,178.

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Average solar panel costs by system size in East Chicago

To the left, you will find a breakdown of prices for different solar panel system sizes installed in East Chicago. With more extensive solar systems, the price rises, but so do the electricity savings and the income tax credits you can receive.

Look at the solar panel cost calculator below and to the right to see the cost and benefit details calculated from an average $119.30 electric bill in East Chicago. Adjust the $119.30 to your typical electricity bill payment for results that are tailored to you.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $532 a year
Est. Price
$5,726
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 3.24 tons a year
  • Equivalent to planting 149 trees a year
  • Equivalent to driving 8,027 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $799 a year
Est. Price
$8,589
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 4.86 tons a year
  • Equivalent to planting 223 trees a year
  • Equivalent to driving 12,040 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,065 a year
Est. Price
$11,452
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 6.49 tons a year
  • Equivalent to planting 298 trees a year
  • Equivalent to driving 16,053 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,331 a year
Est. Price
$14,315
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 8.11 tons a year
  • Equivalent to planting 372 trees a year
  • Equivalent to driving 20,066 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,597 a year
Est. Price
$17,178
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 8.7 tons a year
  • Equivalent to planting 399 trees a year
  • Equivalent to driving 21,527 mi less a year

East Chicago Solar Panel Installation Incentives & Rebates | 2024

Rural small business and farm owners might benefit from the REAP Grant, which could cover 80% to 100% of their solar energy or wind energy installation expenses. Curious if you fall into this category? Confirm your eligibility with our REAP Grant eligibility tool.

With the availability of a 30% federal income tax credit, solar energy becomes a feasible solution for most homeowners, particularly in numerous parts of the country. A number of state and local programs are set up to increase the adoption of solar energy.

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?

If your goal is to own your home well past the payback period of your solar system, solar panels are an clear choice in East Chicago. A 5 kW solar system in East Chicago, IN could potentially save you $14,317 over the course of 20 years, with the break even point averaging at 10 years.

The cost of not having solar panels in East Chicago, IN

Opting not to have solar panels or a separate backup energy solution results in you missing out on the savings noted earlier and leaves you fully reliant on your electric utility for electricity. As shown by recent news stories, total reliance on your utility company is not always ideal.

Annually, customers in East Chicago face approximately 0.95 outages each year. Outages typically last for an average of 143 minutes. Major occurrences like planned maintenance, overloaded power grids or high winds can lead to a significant rise in these time frames.

Regardless of whether a backup battery is present, a solar panel system could reduce the impact of future power outages you might face.

Power Outages

Currently, 0 customers are being tracked in Lake County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in East Chicago, IN?

Your Energy Needs - With larger solar panel systems, the cost per watt decreases, despite the greater upfront expense. Many consumers realize it's a great idea to install a solar system that can make enough power to replace their electric bill, because it helps them reduce costs.

Make & Model - Just like other products, solar panels come in a variety of makes and models. The brand preferences of your chosen installer can make it crucial to select a highly rated company. The utilization of high-quality models is expected to provide a more satisfactory long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have become the industry standard, and for valid reasons. Despite the higher price tag, these panels provide greater energy output. The majority of installation experts use panels constructed from this material.

Your Property - Things like rough terrain, trees, or other challenges may cause the installation to be more difficult. With the use of satellite images, the majority of solar installers nowadays can assess your home and incorporate these considerations into the initial cost estimate.

Labor Rates - The wages that companies offer their employees are different, and these expenses are inevitably reflected in consumer prices. Companies paying higher wages usually garner better reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility level interconnection fees change by area and will affect your final install price. That said, reputable local installers will be able to build these numbers into your first 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 East Chicago?

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.

East Chicago, IN Solar Panel Cost FAQs

  • As of October, 2024, the average per-watt cost for solar panels in East Chicago, IN is $4.09/W. The installation of a 5 kW solar panel system in East Chicago, IN will cost about $14,315 after federal tax credits.

  • If you live in Indiana, you can find 4 rebates and incentives through different utilities and government agencies. In addition, the 30% federal income tax credit is available to almost everyone.

  • Even though cash payments offer the greatest savings, several financing options for solar panels today are also cost-effective. Many installers collaborate with financing partners and will provide this information in your initial quotes.

  • Yes, the typical duration for 5 kW solar panel systems to pay back their cost in East Chicago, IN is 10 years, with electricity savings estimated at $14,317 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01