Solar Panels Cost $0k-$0k in Fulton County, IN | November, 2024
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How much do solar panels cost in Fulton County, IN in 2024?
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Getting a solar system in the month of November, 2024 in Fulton County, IN costs approximately $0/W.
In accordance with the cost per watt, you are able to conclude that for every 1 kW (1000 watts) your solar system can generate, you will have to invest $0 to have it installed. After subtracting the 30% federal tax credit, a 5 kW solar system in Fulton County typically costs $0. To adequately cover your energy needs, you could need a bigger system.
To the left, you can choose your county to see the average roof size and average maximum capacity for solar panels on homes in your area. Below is an analysis of the costs, 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.
Fulton County: $0US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Fulton County: 0 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Fulton County: $49,817US Average: $16,169
Solar Potential in Fulton County
Estimated system size and solar electricity production per median viable roof in Fulton County.
Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.
Electricity Costs in Fulton County, IN & What that Means for Your Solar Panel Pricing
On average, a Fulton County energy consumer uses 1,714 kWh and pays 207.57 per month for electricity. Please be aware that this figure covers apartments and smaller residences, which typically require reduced energy.
In November 2024, the electricity rate in Fulton County, IN averages 12.11¢ per kWh.
Currently, a 14 kW solar system will cost around $0 after incentives.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Fulton County
Available below and to the left is the price structure for multiple sizes of solar panel systems in Fulton County. A more extensive solar array will expectedly cost more, but it will also provide higher electricity savings and higher income tax credits.
In the solar panel cost calculator found to the right and below, you can view a cost and benefit breakdown to match an average $207.57 electric bill in Fulton County. For results that are more personalized, adjust the $207.57 to match your typical electricity bill.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,775 a year
Est. Price
$0
Savings from a 10kWthis system
Est. yearly production 14,790 kWh
Est. monthly savings $148
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 6.57 tons a year
Equivalent to planting 302 trees a year
Equivalent to driving 16,257 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $1,952 a year
Est. Price
$0
Savings from a 11kWthis system
Est. yearly production 16,269 kWh
Est. monthly savings $163
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 7.22 tons a year
Equivalent to planting 332 trees a year
Equivalent to driving 17,883 mi less a year
System Size 12kW
Roof Size Min. space required
858 ft²
Electricity Value Annual Production $2,130 a year
Est. Price
$0
Savings from a 12kWthis system
Est. yearly production 17,748 kWh
Est. monthly savings $177
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 7.88 tons a year
Equivalent to planting 362 trees a year
Equivalent to driving 19,509 mi less a year
System Size 13kW
Roof Size Min. space required
930 ft²
Electricity Value Annual Production $2,307 a year
Est. Price
$0
Savings from a 13kWthis system
Est. yearly production 19,227 kWh
Est. monthly savings $192
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 8.54 tons a year
Equivalent to planting 392 trees a year
Equivalent to driving 21,134 mi less a year
System Size 14kW
Roof Size Min. space required
1,001 ft²
Electricity Value Annual Production $2,485 a year
Est. Price
$0
Savings from a 14kWthis system
Est. yearly production 20,706 kWh
Est. monthly savings $207
Full payback in 0 years
Environmental Impacts
Reduces CO2 emissions by 9.2 tons a year
Equivalent to planting 422 trees a year
Equivalent to driving 22,760 mi less a year
Fulton County 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 agricultural businesses. If you feel you might be eligible, we suggest utilizing our REAP Grant eligibility tool to verify your qualification.
The federal government offers a 30% tax credit for residential solar systems, making solar practical and practical for a diverse set of homeowners. A variety of state and local incentives are offered to promote the use of solar energy.
Indiana features 6 solar rebate and incentive initiatives provided by multiple utilities and government organizations.
Solar incentives in INIncentive Description Value
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.
City of Bloomington - Sustainable Development Incentives
Value:Varies
Special administrative incentives may apply to new construction in Bloomington, IN if it meets certain green building standards. The city has established standards across four areas, including energy efficiency, landscape/water efficiency, public policy (specifically promoting alternative vehicles), and public transportation. Buildings meeting certain minimum quotas for projects in the goal areas may qualify for permit fee waivers and less strict setback requirements. Additional information is available from the Bloomington city website.
City of Indianapolis - Green Building Incentive Program
Value:Varies
Special permitting privileges may apply to new projects in Indianapolis or greater Marion County if designers adhere to certain energy efficiency standards. Qualifying structures should either use on-site solar panels/small wind equipment or be ASHRAE 90.1 certified. Appliances, lighting, and HVAC systems used should be ENERGY STAR certified. Once the builder applies for permits, the structure will be ranked across six sustainability criteria. If it passes minimum standards on at least half of the criteria, 30% of the total permit fees will be refunded. For each additional criterion, another 10% will be added to the total rebate. Additional information is available from the Indianapolis city website.
Are solar panels worth it in Fulton County, IN?
If your goal is to maintain your home well past the payback period of your solar system, solar panels are an clear choice in Fulton County. With a 5 kW solar system in Fulton County, IN, the average savings over a 20 period is $49,816.8, with break even usually occurring at 0 years.
The cost of not having solar panels in Fulton County, IN
Without solar panels or another backup power source, you miss out on the savings discussed previously and rely entirely on your electric utility for electricity. As we've seen in many recent news reports, full reliance on your utility isn't always ideal.
In recent times, the average number of utility outages per customer annually in Fulton County has been about 0.91. The average duration of each outage is 128.23 minutes. During severe events like grid management errors, landslides or planned maintenance, these times can grow significantly longer.
Take a look at the component below to see the number of current electricity customers without power in Fulton County.
Whether or not a backup battery is included, a solar panel system could help ease the impact of future power outages you might face.
Power Outages
Currently, 0 customers are being tracked in Fulton County.
What impacts the cost of solar panels in Fulton County, IN?
Your Energy Needs - Larger solar panel systems require more upfront investment, but the cost per watt decreases as the size of the system increases. Many people find it useful to install a solar energy system that can replace their entire electric bill. This results in optimal savings.
Make & Model - There are a variety of makes and models of solar panels and mounting equipment. Taking into account the certain brand preferences an installer might have, picking a reputable contractor is important. Choosing superior quality equipment usually provides a more favorable long-term experience for the buyer.
Solar Panel Type - Monocrystalline panels have emerged as the standard in the industry, and deservedly so. They have a higher price, but they provide more energy. Most solar panel installers choose this type of material.
Your Property - Trees, sloped land, or additional considerations can increase the complexity of the installation. Nowadays, the majority of solar installers can assess your home with satellite images and incorporate these elements in the preliminary cost estimate.
Labor Rates - Companies compensate their employees in varying amounts, and these costs are passed down to consumers. Higher wages frequently lead to companies getting better reviews for their services and customer service.
Permitting & Interconnection - The local permitting and utility interconnection fees, which vary by region, will affect your final installation price. Quality installers will factor these costs into your preliminary quotes to prevent unexpected expenses.
See what solar panels cost in other Fulton County cities
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Fulton County, IN Solar Panel Cost FAQs
In Fulton County, IN, the mean cost per watt for solar panels as recorded in November, 2024 is $0/W. After the federal tax credit, the estimated cost for a 5 kW solar panel system in Fulton County, IN is roughly $0.
Currently, Indiana residents can benefit from 6 rebates and incentives available through various utilities and government bodies. On top of that, nearly everyone can qualify for the 30% federal tax credit.
Paying cash provides the most savings, yet there are many financing options available today for solar panels that are also beneficial. Financing options are frequently available through installers and will be included in your initial quotes.
Yes, the typical payback time for 5 kW solar panel systems in Fulton County, IN is 0 years, and the expected electricity cost savings over 20 years is $49,816.8.