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

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

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

Having a solar system averages out to $4.09/W in Gary, IN in October, 2024.

Said another way, solar panels will cost you $4,090 per 1 kW (or 1000 watts) of generation capacity. Subtracting the 30% federal tax credit, a 5 kW solar panel system in Gary typically costs $14,315. Note that a more extensive system may be essential to fully meet your energy needs.

On the left-hand side, you can pick your county to see the average roof size and the maximum capacity for solar panels in residences in your area. Below, you can see a breakdown 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.
Gary: $14,315US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Gary: 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.
Gary: $8,182US Average: $15,784

Solar Potential in Gary

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

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

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

Gary's average monthly electric bill is $119.30, with consumers using an average of 654 kWh. Apartments and other smaller residences with reduced energy requirements are encompassed in this figure.

Gary, IN's electricity rate is 18.25¢ per kWh in October 2024.

If you’re an average electricity consumer in Gary, you will require a solar power system sized at 6 kW or larger to cover your electricity needs. At the moment, a 6 kW setup will set you back about $24,540initially, but thanks to the federal tax credit, you get a 30% reimbursement, bringing the cost down to $17,178.

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Average solar panel costs by system size in Gary

Located below and to the left, there is the cost summary for multiple sizes of the solar panel systems set up in Gary. A more extensive solar array will obviously cost more, but it will also provide higher electricity savings and higher income tax credits.

The solar panel calculator, positioned down and to the right, gives a detailed cost and benefit analysis based on a typical $119.30 electric bill for Gary. By changing the $119.30 to your average electricity bill, you can get tailored results.

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 5.08 tons a year
  • Equivalent to planting 233 trees a year
  • Equivalent to driving 12,577 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 7.62 tons a year
  • Equivalent to planting 350 trees a year
  • Equivalent to driving 18,865 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 10.16 tons a year
  • Equivalent to planting 467 trees a year
  • Equivalent to driving 25,154 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 12.7 tons a year
  • Equivalent to planting 583 trees a year
  • Equivalent to driving 31,442 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 13.63 tons a year
  • Equivalent to planting 626 trees a year
  • Equivalent to driving 33,732 mi less a year

Gary Solar Panel Installation Incentives & Rebates | 2024

Rural farmers and small business owners could have between 80% and 100% of their solar energy or wind turbine installation expenses covered by the REAP Grant. Believe you might be eligible? Verify your qualification with our REAP Grant eligibility tool.

The federal government offers a 30% tax credit for residential solar systems, rendering solar practical and sensible for a variety of homeowners. On top of that, there are many state and local incentives to further encourage the adoption of solar energy.

Indiana provides 4 solar rebates and incentives from different utility companies 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?

For homeowners in Gary who expect to stay in their residence beyond the solar payback period, solar panels make an smart investment. Over a 20 year time frame, a 5 kW solar system in Gary, IN could save you around $14,317, with the average break even time being 10 years.

The cost of not having solar panels in Gary, IN

Without solar panels or another backup power source, you miss out on the previously noted savings and are fully dependent on your electric utility for electricity. Many recent news reports have highlighted that complete dependence on your utility is not always ideal.

The average number of outages per customer per year in Gary is 0.95. On average, the length of an outage is 143 minutes. Major events like overloaded power grids, winter storms or vandalism can cause these durations to rise considerably.

A solar energy system, regardless of whether it has a backup battery or not, could help relieve the pressure of future power outages you may experience.

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 Gary, IN?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt decreases as the system size increases. Homeowners often find that installing a solar system that can replace their electric bill is highly beneficial. This method results in maximum savings.

Make & Model - Like other industries, the solar energy sector includes a range of solar panel brands and designs. The preferences for brand that your contractor has may make it crucial to choose a reputable installer. Opting for superior quality models can yield a greatly enhanced long-term experience for the buyer.

Solar Panel Type - It's understandable that monocrystalline panels are now the standard in the industry. Although the cost is higher, they deliver more energy. Many installers use these types of panels.

Your Property - Challenges like trees, sloping terrain, or additional considerations can increase the difficulty of installing solar panels. Solar installers currently typically use satellite imagery to evaluate your home and incorporate these factors into the initial cost estimate.

Labor Rates - The costs connected to the varying wages paid by companies to their employees are transferred to the consumers. Companies frequently garner higher reviews for their work and customer service when they offer better wages.

Permitting & Interconnection - Your final installation cost will be impacted by local permitting and utility interconnection fees, which change by area. Good local installers will incorporate these figures into your preliminary estimates to prevent any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Gary?

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.

Gary, IN Solar Panel Cost FAQs

  • As recorded in October, 2024, the standard cost for solar panel installations in Gary, IN is $4.09/W. Post federal tax credit, a 5 kW solar panel system installation in Gary, IN will roughly cost $14,315.

  • Indiana offers 4 different rebates and incentives from a range of utilities and government organizations. Moreover, nearly everyone is eligible for the 30% federal income tax credit.

  • Cash payments offer the highest savings, yet several financing options now available for solar panels are financially beneficial as well. Installers will often include details on financing partners in the quotes they provide initially.

  • Yes, the average 5 kW solar panel payback period in Gary, IN stands at 10 years, yielding average electricity savings of $14,317 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01