Solar Panels Cost 8.6k-20k in Frankfort, IN | October, 2024

Solar Panels Cost $8.6k-$20k in Frankfort, IN | October, 2024

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

You will spend around $4.1/W in Frankfort, IN in the month of October, 2024 to have solar panels installed.

Stemming from the price per watt, we are able to come to the conclusion that for every 1 kW (1000 watts) your system can produce you will invest $4,100 to get your panels installed. In Frankfort, you can expect to pay about $14,350 for a 5 kW system once the 30% federal income tax credit is factored in. In accordance with your energy usage, your home may need a bigger system.

To the left, you can select your county to access information on the typical roof size and the maximum capacity of residential solar for houses in your area. Below, you can see a full analysis of the 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.
Frankfort: $14,350US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Frankfort: 14 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Frankfort: $207US Average: $15,784

Solar Potential in Frankfort

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

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

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

The average monthly electric bill for a Frankfort energy consumer is $86.28, with an typical usage of 788 kWh. Compact dwellings, such as townhouses and condos, are also covered in the figures noted in the prior sentence.

In October 2024, Frankfort, IN's mean electricity rate is 10.95¢ per kWh.

To take care of the electricity requirements of a typical consumer in Frankfort, a solar system of 7 kW or higher is necessary. After incentives, a 7 kW solar system is priced at around $20,090.

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Average solar panel costs by system size in Frankfort

To the left and below, the cost breakdown for different sizes of the solar panel systems installed in Frankfort is displayed. Naturally, a larger solar system implies a greater upfront cost, but it also translates to more significant electricity savings and larger income tax credits.

The breakdown of costs and benefits for solar panels, shown in the calculator down and to the right, is based on an average electric bill of $86.28 in Frankfort. Swap the $86.28 with your usual electricity bill to get more accurate results.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $488 a year
Est. Price
$8,610
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $41
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 4.32 tons a year
  • Equivalent to planting 199 trees a year
  • Equivalent to driving 10,703 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $651 a year
Est. Price
$11,480
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $54
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 5.77 tons a year
  • Equivalent to planting 265 trees a year
  • Equivalent to driving 14,271 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $813 a year
Est. Price
$14,350
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $68
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 7.21 tons a year
  • Equivalent to planting 331 trees a year
  • Equivalent to driving 17,838 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $976 a year
Est. Price
$17,220
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $81
  • Full payback in 17 years
Environmental Impacts
  • Reduces CO2 emissions by 8.65 tons a year
  • Equivalent to planting 397 trees a year
  • Equivalent to driving 21,406 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,139 a year
Est. Price
$20,090
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $86
  • Full payback in 19 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

Frankfort Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can potentially cover between 80% and 100% of the installation costs for solar or wind turbines for rural small businesses and farms. Verify if you are eligible by utilizing our REAP Grant eligibility tool.

With the availability of a 30% federal income tax credit, solar energy becomes a viable solution for almost all homeowners, especially in various parts of the country. State and local efforts are also in place to boost the growth of solar energy use.

A total of 4 solar incentive and rebate programs are available in Indiana from multiple utilities and government 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 you intend to live in your home beyond the payback period of your solar system, solar panels are an excellent choice in Frankfort. A 5 kW solar system in Frankfort, IN might save you an average of $6,357.2 over 20 years, with the break even point typically being 14 years.

The cost of not having solar panels in Frankfort, IN

Skipping solar panels or an alternative backup energy source results in you'll miss out on the savings mentioned above and be completely dependent on your electric utility for power. Full reliance on your utility provider is not always ideal, as recent examples in the news have highlighted.

On average, customers in Clinton County have faced 1.04 utility outages per year in recent times. On average, the length of an outage is 119.59 minutes. Major events like heavy rain and flooding, construction accidents, or aging infrastructure can cause these durations to rise considerably.

A solar panel system, with or without a backup battery, could mitigate the effects of future outages you might face.

Power Outages

Currently, 0 customers are being tracked in Clinton County.

Learn more

Customers Out:

0

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

Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is reduced as the system size grows. Most consumers find it useful to install a solar system that can produce enough electricity to offset 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 to choose from. Given the certain brand preferences an installer might have, picking a highly rated company is crucial. The choice of better materials can substantially better the long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have emerged as the standard in the industry, and deservedly so. Although the cost is more, they yield more energy. Many installers use these panels.

Your Property - Each home and property is unique in its own way. Rough terrain, trees, or additional obstacles may complicate the installation. These days, solar installers frequently utilize satellite images to evaluate your home and include these elements into the preliminary cost estimate.

Labor Rates - Companies pay varying pay rates to their employees, which are then passed on to the prices consumers pay. Businesses typically garner higher reviews for their services and customer service when they pay higher wages.

Permitting & Interconnection - Your final installation cost will be influenced by local permitting and utility interconnection fees, which vary by area. Reputable local installers will integrate these numbers into your preliminary quotes to prevent any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Frankfort?

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.

Frankfort, IN Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Frankfort, IN as of October, 2024 is $4.1/W. With the federal tax credit, the cost of a 5 kW solar panel system in Frankfort, IN drops to roughly $14,350.

  • Homeowners in Indiana can take advantage of 4 different rebates and incentives from a variety of utility companies and government agencies. In addition, the 30% federal income tax credit is available to almost everyone.

  • Even though cash payments provide the greatest savings, numerous financing options for solar panels today are also advantageous. Information about financing options is typically provided in initial quotes provided by installers.

  • Yes, on average, the return on investment for 5 kW solar panel systems in Frankfort, IN is achieved in 14 years, with electricity savings amounting to $6,357.2 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01