Solar Panels Cost 14k-26k in Greensburg, IN | October, 2024

Solar Panels Cost $14k-$26k in Greensburg, IN | October, 2024

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

In Greensburg, IN, the cost per watt of solar panel installations is around $4.13 per watt in October, 2024.

Based on this rate per watt, you can conclude that for every 1 kW (1000 watts) of solar generation capacity will require an investment of $4,130 for installation. After receiving the 30% federal tax credit, a 5 kW solar setup in Greensburg will cost you $14,455. Remember that a bigger system could be required to fulfill your energy demands.

On the left-hand side, you can select your county to view the average roof size and the maximum capacity for solar panels in residences in your area. Outlined below are 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.
Greensburg: $14,455US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Greensburg: 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.
Greensburg: $14,935US Average: $15,784

Solar Potential in Greensburg

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

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

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

Greensburg residents typically have an average monthly electric bill of $148.27 per month, with a typical usage of 1,085 kWh. Smaller homes, such as apartments, are also covered in the numbers mentioned in the prior sentence.

Greensburg, IN's electricity rate is 13.66¢ per kWh in October 2024.

Typical electricity users in Greensburg need a solar panel system of 9 kW or more to take care of their full power demands. Upfront, a 9 kWsolar panel installation costs around $37,170, after the 30% federal tax credit, the final cost is $26,019.

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Average solar panel costs by system size in Greensburg

To the left, we present a comprehensive pricing details for different solar panel system sizes installed in Greensburg. Although a more extensive solar installation has a greater cost, it also yields increased electricity savings and higher income tax credits.

The solar panel calculator, located below and to the right, offers a detailed cost and benefit analysis based on a typical $148.27 electric bill for Greensburg. Just change the $148.27 to your typical electricity bill for more precise results.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,035 a year
Est. Price
$14,455
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $86
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 5.33 tons a year
  • Equivalent to planting 245 trees a year
  • Equivalent to driving 13,192 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,242 a year
Est. Price
$17,346
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $104
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 6.4 tons a year
  • Equivalent to planting 294 trees a year
  • Equivalent to driving 15,831 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,449 a year
Est. Price
$20,237
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $121
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 7.46 tons a year
  • Equivalent to planting 343 trees a year
  • Equivalent to driving 18,469 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,656 a year
Est. Price
$23,128
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $138
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 8.53 tons a year
  • Equivalent to planting 392 trees a year
  • Equivalent to driving 21,108 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,864 a year
Est. Price
$26,019
Savings from a 9kWthis system
  • Est. yearly production 13,311 kWh
  • Est. monthly savings $148
  • Full payback in 15 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

Greensburg Solar Panel Installation Incentives & Rebates | 2024

If you run a small business or farm in a rural area, you could receive REAP Grant support that covers 80% to 100% of your solar or wind turbine installation costs. If you believe you might be eligible, we suggest using our REAP Grant eligibility tool to verify your qualification.

For those considering residential solar, the 30% federal income tax credit is available to almost all homeowners, which makes solar power a good investment in various parts of the country. Additionally, numerous state and local programs aim to further promote the adoption of solar power.

Indiana residents have access to 4 solar rebate and incentive programs from multiple utilities and governmental agencies.

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 Greensburg planning to stay beyond the payback period of their solar system, solar panels are the clear choice. Over a 20 year period, a 5 kW solar system in Greensburg, IN could save you approximately $21,129.8, with the average break even time being 8 years.

The cost of not having solar panels in Greensburg, 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. Recent media coverage has made it clear that relying solely on your utility isn't always the best idea.

In recent times, the average number of utility outages per customer annually in Greensburg has been about 1.42. On average, an outage lasts 185.53 minutes. Major events such as overloaded power grids, landslides or construction accidents can significantly extend these time frames.

Even without a backup battery, a solar panel system can reduce the pressure of future outages you may encounter.

Power Outages

Currently, 0 customers are being tracked in Decatur County.

Learn more

Customers Out:

0

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

Your Energy Needs - Although the initial cost is higher, the cost per watt declines with larger solar panel systems. Homeowners often find that installing a solar system that can cover their entire electric bill is advantageous, ensuring maximum savings.

Make & Model - There are a range of makes and models of solar panels and mounting equipment. Selecting an installer with specific brand preferences means it's even more vital important to go with a highly rated company. The selection of better materials can substantially improve the long-term experience for buyers.

Solar Panel Type - It's clear why monocrystalline panels are now the go-to choice in the industry. Even though they are more expensive, they provide more energy. Many installers work with panels made from this material.

Your Property - Each home and property is unique in its own way. Uneven ground, trees, or additional challenges may complicate the installation. Today, the majority of solar installers can assess your home with satellite images and factor in these elements in the preliminary cost estimate.

Labor Rates - The costs related to the varying wages offered by companies to their employees are borne by the consumers. Frequently, businesses paying more in wages also enjoy higher ratings for their services and customer service.

Permitting & Interconnection - The fees for local permitting and utility interconnection, which vary by area, will affect the cost of your installation. Reliable local installers will integrate these figures into your first estimates to avoid any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Greensburg?

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.

Greensburg, IN Solar Panel Cost FAQs

  • The average solar panel cost in Greensburg, IN as of October, 2024 is estimated at $4.13/W. After federal tax credits, the installation of a 5 kW solar panel system in Greensburg, IN is estimated to cost $14,455.

  • Utilities and government agencies in Indiana are currently offering 4 different rebates and incentives. Furthermore, the majority of people qualify for the 30% federal tax credit.

  • Paying cash will result in the most savings, but currently there are multiple options for financing solar panels that make great money sense as well. Financing options from installers will often be specified in your initial quotes.

  • Yes, homeowners in Greensburg, IN generally see a payback time of 8 years for 5 kW solar panel systems, with electricity savings averaging $21,129.8 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01