Solar Panels Cost 10k-21k in Fort Wayne, IN | September, 2024

Solar Panels Cost $10k-$21k in Fort Wayne, IN | September, 2024

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How much do solar panels cost in Fort Wayne, IN in 2024?

In Fort Wayne, IN, the cost per watt for solar panel installations is about $3.83/W in September, 2024.

Expect to pay $3,830, on average, for every 1000 watts (or 1 kW) of solar energy your panels will need to produce. In Fort Wayne, you will spend around $13,405 for a 5 kW solar panel install once the 30% federal income tax credit is factored in. Be advised that a more powerful system may be necessary to fully meet your energy needs.

Use the menu on the left to pick your county and find out the average roof size and the average maximum capacity for residential solar on residences in your area. Below, you can see a summary of the price, payback period and 20 year average 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.
Fort Wayne: $13,405US Average: $12,598
Average Payback Period The number of years until you break even on the solar investment.
Fort Wayne: 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.
Fort Wayne: $12,652US Average: $15,732

Solar Potential in Fort Wayne

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

Roof size 787sq. ft.
Capacity 11kW DC
Electricity 12.2kkWh AC per yr.

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

Energy consumers in Fort Wayne usually pay $132.51 per month for electricity, consuming an average of 828 kWh. Compact residences, such as efficiency studios and apartments, are also included in the figures mentioned in the prior sentence.

In September 2024, the electricity rate in Fort Wayne, IN is 16.01¢ per kWh.

To fully meet the energy requirements of an average user in Fort Wayne, a solar system of 8 kW or larger is required. The expense for aan 8 kW solar installation is about $30,640 upfront, but with a 30% tax credit, the price decreases to $21,448.

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Average solar panel costs by system size in Fort Wayne

Shown on the left, you will find a price breakdown for various solar panel system sizes set up in Fort Wayne. When you opt for a more extensive solar system, the cost is larger, but it also leads to higher electricity savings and a greater income tax credit.

Using the solar panel cost calculator located down and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $132.51 in Fort Wayne. Modify the $132.51 to your average bill payment for more accurate results.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $886 a year
Est. Price
$10,724
Savings from a 4kWthis system
  • Est. yearly production 5,538 kWh
  • Est. monthly savings $74
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 5.1 tons a year
  • Equivalent to planting 234 trees a year
  • Equivalent to driving 12,635 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,108 a year
Est. Price
$13,405
Savings from a 5kWthis system
  • Est. yearly production 6,923 kWh
  • Est. monthly savings $92
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 6.38 tons a year
  • Equivalent to planting 293 trees a year
  • Equivalent to driving 15,794 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,329 a year
Est. Price
$16,086
Savings from a 6kWthis system
  • Est. yearly production 8,307 kWh
  • Est. monthly savings $111
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 7.66 tons a year
  • Equivalent to planting 352 trees a year
  • Equivalent to driving 18,953 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,551 a year
Est. Price
$18,767
Savings from a 7kWthis system
  • Est. yearly production 9,692 kWh
  • Est. monthly savings $129
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 8.93 tons a year
  • Equivalent to planting 410 trees a year
  • Equivalent to driving 22,112 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,772 a year
Est. Price
$21,448
Savings from a 8kWthis system
  • Est. yearly production 11,076 kWh
  • Est. monthly savings $133
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 9.19 tons a year
  • Equivalent to planting 422 trees a year
  • Equivalent to driving 22,758 mi less a year

Fort Wayne Solar Panel Installation Incentives & Rebates | 2024

Between 80% and 100% of your solar or wind turbine installation costs may be covered by the REAP Grant if you own a rural small business or farm. Think you fit this category? Check your qualification with our REAP Grant eligibility tool.

Homeowners can benefit from a 30% federal income tax credit for adding residential solar panels, making solar power a feasible option across much of the country. Additionally, a number of state and local programs are available to promote solar adoption.

Residents of Indiana can access 4 solar rebate and incentive programs from a range of utilities and governmental 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 your plan is to stay in your home past the time it takes to pay off your solar system, opting for solar panels is a good move in Fort Wayne. Over a 20 year period, a 5 kW solar system in Fort Wayne, IN could save you around $18,397.4, with the average break even time being 8 years.

The cost of not having solar panels in Fort Wayne, IN

Apart from missing out on the savings highlighted earlier, not having solar panels or an alternative backup energy source leaves you fully reliant on your electric utility for electricity. The media has demonstrated several cases where complete reliance on your utility isn't always the best scenario.

Recently, the average number of utility outages per customer annually in Fort Wayne has been about 1.09. On average, an outage lasts 187.4 minutes. When major events such as heavy rain and flooding, aging infrastructure, or wildlife damage occur, these durations can increase significantly

Regardless of whether a backup battery is included or not, a solar panel system could reduce the strain of possible future outages.

Power Outages

Currently, 0 customers are being tracked in Allen County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Fort Wayne, IN?

Your Energy Needs - The cost per watt is reduced with larger solar panel systems, even though the initial cost is higher. A lot of people find it advantageous to set up a solar energy system that can fully cover their entire electric bill. This results in optimal savings.

Make & Model - Similar to many products, solar panels come in a variety of makes and models. The potential system preferences of your contractor mean that it is it's even more vital to select a recommended company. The employment of superior materials is likely to result in a more favorable long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have secured their spot as the industry standard, and for valid reasons. Even with a higher cost, this technology yield more energy. Most installers opt for panels constructed using this material.

Your Property - Each property and home has its own unique features. Irregular terrain, trees, or additional hindrances may add to the difficulty of the installation. These days, satellite images enable many solar installers to assess your home and include these elements into the preliminary cost estimate.

Labor Rates - The varying wages that companies offer their employees lead to costs that are ultimately borne by consumers. Businesses paying more to their employees typically receive higher reviews for their services and customer service.

Permitting & Interconnection - Regional differences in permitting and utility interconnection fees will affect your installation cost. Quality local installers will integrate these numbers into your preliminary 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 Fort Wayne?

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.

Fort Wayne, IN Solar Panel Cost FAQs

  • The average solar panel cost in Fort Wayne, IN as of September, 2024 is estimated at $3.83/W. In Fort Wayne, IN, installing a 5 kW solar panel system will set you back approximately $13,405 after federal tax incentives.

  • In Indiana, you have access to 4 rebates and incentives provided by numerous utilities and government organizations. In addition, the 30% federal income tax credit is available to almost everyone.

  • Although paying in cash offers the most savings, numerous financing options for solar panels now exist that are cost-effective. Many installers have financing partners and will provide this information in your initial quotes.

  • Yes, homeowners in Fort Wayne, IN generally see a payback time of 8 years for 5 kW solar panel systems, with electricity savings averaging $18,397.4 over a 20-year period.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-09-01