Solar Panels Cost 8.5k-19k in Hartford City, IN | October, 2024

Solar Panels Cost $8.5k-$19k in Hartford City, IN | October, 2024

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How much do solar panels cost in Hartford City, IN in 2024?

In Hartford City, IN in the month of October, 2024 you will spend about $4.05 per watt to go solar.

It will cost you $4,050, on average, for every 1K (or 1000 watts) of capacity that your solar panels have. After receiving the 30% federal tax credit, you can expect to pay around $14,175 for a 5 kW solar setup in Hartford City. Please keep in mind that a bigger system might be needed to adequately cover your energy consumption.

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.
Hartford City: $14,175US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Hartford City: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Hartford City: $11,296US Average: $15,784

Solar Potential in Hartford City

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

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

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

On average, Hartford City residents pay $131.44 for their electric bill each month and use 813 kWh. These statistics also include apartments and other smaller residences with reduced energy demand.

The average rate for electricity in Hartford City, IN in October, 2024 is 16.17¢ per kWh.

Average citizens in Hartford City will want a solar panel system with a generation capacity of 7 kW or larger to satisfy their full electricity consumption requirements. Installing a a 7 kW solar panel installation will be priced at about $28,350 initially, but with the 30% federal tax credit, you can receive a 30% reimbursement, reducing the cost to $19,845.

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Average solar panel costs by system size in Hartford City

Located below and to the left, there is the price breakdown for different sizes of the solar panel systems set up in Hartford City. The bigger the solar array, the higher the initial expense, but also the greater electricity savings and income tax credits you'll get.

The solar panel cost and benefit breakdown, shown in the calculator below and to the right, is based on an average electric bill of $131.44 in Hartford City. Change the $131.44 to match your average electricity bill payment for custom results.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $710 a year
Est. Price
$8,505
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $59
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 4.13 tons a year
  • Equivalent to planting 190 trees a year
  • Equivalent to driving 10,220 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $947 a year
Est. Price
$11,340
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $79
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 5.51 tons a year
  • Equivalent to planting 253 trees a year
  • Equivalent to driving 13,627 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,183 a year
Est. Price
$14,175
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $99
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 6.88 tons a year
  • Equivalent to planting 316 trees a year
  • Equivalent to driving 17,034 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,420 a year
Est. Price
$17,010
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $118
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 8.26 tons a year
  • Equivalent to planting 379 trees a year
  • Equivalent to driving 20,440 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,656 a year
Est. Price
$19,845
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $131
  • Full payback in 13 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

Hartford City 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 4 solar rebate and incentive initiatives provided by 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?

For those expecting to remain in their homes after the solar system's payback period, installing solar panels is a obvious choice in Hartford City. By installing a 5 kW solar system in Hartford City, IN, you can expect to save roughly $17,370.6 over 20 years, with the break even point usually being 9 years.

The cost of not having solar panels in Hartford City, 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.

Recently, the average number of utility outages per customer in Hartford City has been 1.32 annually. Outages generally last for an average of 260.05 minutes. During major occurrences like landslides, aging infrastructure, or construction accidents, these times can extend significantly.

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 Blackford County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Hartford City, 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 IN cities

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Who are the best solar installers in Hartford City?

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.

Hartford City, IN Solar Panel Cost FAQs

  • The average solar panel cost in Hartford City, IN as of October, 2024 is estimated at $4.05/W. Post federal tax credit, a 5 kW solar panel system installation in Hartford City, IN will roughly cost $14,175.

  • Currently, Indiana residents can benefit from 4 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 average 5 kW solar panel payback time in Hartford City, IN is 9 years, with expected savings of $17,370.6 on electricity over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01