Solar Panels Cost 7.9k-18k in Greenfield, IN | October, 2024

Solar Panels Cost $7.9k-$18k in Greenfield, IN | October, 2024

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

To go solar in Greenfield, IN in October, 2024 costs $3.79/W.

According to the rate per watt, solar panel installations will cost you, on average, $3,790 per 1K (or 1000 watts) of production capacity. When you subtract the 30% federal tax credit, a 5 kW solar system in Greenfield will cost around $13,265. In accordance with your energy consumption habits, your home might require a larger system.

On the left, select your county to see the average roof size and the maximum generation capacity for residential solar on homes in your area. Outlined below are the price, 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.
Greenfield: $13,265US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Greenfield: 12 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Greenfield: $2,758US Average: $15,784

Solar Potential in Greenfield

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

Roof size 1,037sq. ft.
Capacity 14.5kW DC
Electricity 16.8kkWh AC per yr.

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

In Greenfield, the typical electric bill for an energy user is $90.45, with a typical monthly usage of 779 kWh. Be mindful that this number includes data from apartments and other smaller homes with lower energy needs.

In October 2024, the average electricity rate in Greenfield, IN is 11.61¢ per kWh.

If your household uses an average amount of electricity in Greenfield, you will need a solar system of 7 kW or higher to fully satisfy your full electricity consumption demands. At this time, a 7 kW solar installation costs around $26,530 initially, with the 30% federal tax credit, the cost comes to $18,571.

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Average solar panel costs by system size in Greenfield

Displayed below and to the left, is a thorough cost analysis for multiple solar panel system sizes installed in Greenfield. A more extensive solar array will obviously cost more, but it will also provide more significant electricity savings and higher income tax credits.

Using the solar panel cost calculator located to the right and below, you can view a detailed cost and benefit analysis based on an average electric bill of $90.45 in Greenfield. Swap the $90.45 with your usual electricity bill for custom results.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $532 a year
Est. Price
$7,959
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $44
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 4.51 tons a year
  • Equivalent to planting 207 trees a year
  • Equivalent to driving 11,157 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $710 a year
Est. Price
$10,612
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $59
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 6.01 tons a year
  • Equivalent to planting 276 trees a year
  • Equivalent to driving 14,876 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $887 a year
Est. Price
$13,265
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $74
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 7.51 tons a year
  • Equivalent to planting 345 trees a year
  • Equivalent to driving 18,595 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,065 a year
Est. Price
$15,918
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $89
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 9.01 tons a year
  • Equivalent to planting 414 trees a year
  • Equivalent to driving 22,314 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,242 a year
Est. Price
$18,571
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $90
  • Full payback in 17 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

Greenfield Solar Panel Installation Incentives & Rebates | 2024

Rural entrepreneurs and farmers might find that the REAP Grant pays for 80% to 100% of their costs when installing solar energy or wind energy systems. Believe you qualify? Use our REAP Grant eligibility tool to see if you are eligible.

For residential solar installations, nearly all homeowners can benefit from a 30% federal income tax credit, which makes solar energy a feasible choice in many parts of the country. Furthermore, several state and local efforts are in place to further encourage the adoption of solar energy.

Indiana residents have access to 4 solar rebate and incentive initiatives from various utilities and governmental bodies.

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 smart move in Greenfield. In Greenfield, IN, a 5 kW solar system installation might save you $8,443 on average over 20 years, with a usual break even point of 12 years.

The cost of not having solar panels in Greenfield, IN

Without solar panels or another backup power source, you miss out on the savings highlighted previously and rely entirely on your electric utility for electricity. As we have seen in numerous recent news reports, full reliance on your utility isn't always the best option.

Each year, customers in Greenfield have encountered approximately 0.82 utility outages.Yearly, customers in Greenfield have dealt with approximately 0.82 utility outages. On average, the length of an outage is 99.64 minutes. Major events like grid management errors, heavy rain and flooding or planned maintenance can cause these durations to rise considerably.

With or without a backup battery, a solar panel system could reduce the effects of future power interruptions you might face.

Power Outages

Currently, 0 customers are being tracked in Hancock County.

Learn more

Customers Out:

0

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

Your Energy Needs - Larger solar panel systems have a higher initial cost, yet the average cost per watt falls as the system size expands. Most homeowners see the advantage in installing a solar setup that can make enough power to cover their entire electric bill, ensuring significant savings.

Make & Model - Solar panels and mounting equipment, just like many other products, are offered in a variety of makes and models. Taking into account the specific brand preferences an installer might have, choosing a recommended company is important. Better quality models generally provide a more favorable long-term experience for buyers.

Solar Panel Type - For good reasons, monocrystalline panels have become the standard in the industry. These panels are more expensive, yet they offer more energy. Most installers tend to use panels crafted from this material.

Your Property - Each property and home has its own unique features. Uneven ground, trees, or additional obstacles may add to the difficulty of the installation. Many solar installers now are able to utilize satellite imagery to assess your home and include these factors in the initial cost estimate.

Labor Rates - The costs related to the varied wages offered by companies to their employees are passed on to the consumers. Businesses paying more to their employees frequently receive higher reviews for their work and customer service.

Permitting & Interconnection - Your installation cost will be impacted by area-specific permitting and utility interconnection fees. That said, reputable local installers will be able to integrate these numbers into your preliminary 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 Greenfield?

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.

Greenfield, IN Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Greenfield, IN as of October, 2024 is $3.79/W. With the federal tax credit, the cost of a 5 kW solar panel system in Greenfield, IN drops to roughly $13,265.

  • Indiana offers 4 different rebates and incentives from a range of utilities and government organizations. On top of that, most individuals are eligible for the 30% federal income tax credit.

  • Paying cash provides the most savings, yet there are several financing options available today for solar panels that are also advantageous. Financing partners are often associated with many installers, and this will be detailed in your initial quotes.

  • Yes, the typical payback time for 5 kW solar panel systems in Greenfield, IN is 12 years, and the expected electricity cost savings over 20 years is $8,443.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01