Solar Panels Cost 19k-30k in Henry County, IN | November, 2024

Solar Panels Cost $19k-$30k in Henry County, IN | November, 2024

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How much do solar panels cost in Henry County, IN in 2024?

The typical cost per watt for solar panel installations in Henry County, IN in November, 2024 is estimated at $3.98/W.

In other words, for every 1000 watts (or 1 Kw) your system can generate you will spend $3,980 to get your system installed in . When you subtract the 30% federal tax credit, the cost of a 5 kW solar system in Henry County typically comes out to approximately $13,930. It's worth noting that a more powerful system might be required to fulfill your energy requirements.

Use the left-hand menu to select your area and view the average roof size and the maximum production capacity for residential solar on homes in your county. The following breakdown, below, highlights 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.
Henry County: $13,930US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Henry County: 5 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Henry County: $30,896US Average: $16,169

Solar Potential in Henry County

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

Roof size 1,126sq. ft.
Capacity 15.75kW DC
Electricity 17kkWh AC per yr.

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

With an average consumption of 1,269 kWh per month, Henry County residents pay about 211.65 for electricity each month. Bear in mind that this statistic includes smaller homes and apartments, which generally have reduced energy requirements.

Henry County, IN's electricity rate averages 16.68¢ per kWh in November 2024.

After incentives, an 11 kW solar system costs around $30,646.

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Average solar panel costs by system size in Henry County

To the left, you'll see a detailed cost breakdown of the various sizes of solar panel systems implemented in Henry County. The more extensive the solar array, the larger the initial expense, but also the greater electricity savings and income tax credits you'll receive.

The solar panel calculator, located below and to the right, gives a detailed cost and benefit analysis based on a typical $211.65 electric bill for Henry County. If you seek tailored results, adjust the $211.65 to your typical electricity bill amount.

System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,760 a year
Est. Price
$19,502
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $147
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 6.07 tons a year
  • Equivalent to planting 279 trees a year
  • Equivalent to driving 15,022 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $2,011 a year
Est. Price
$22,288
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $168
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 6.94 tons a year
  • Equivalent to planting 319 trees a year
  • Equivalent to driving 17,168 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $2,263 a year
Est. Price
$25,074
Savings from a 9kWthis system
  • Est. yearly production 13,311 kWh
  • Est. monthly savings $189
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 7.8 tons a year
  • Equivalent to planting 358 trees a year
  • Equivalent to driving 19,314 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,514 a year
Est. Price
$27,860
Savings from a 10kWthis system
  • Est. yearly production 14,790 kWh
  • Est. monthly savings $210
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 8.67 tons a year
  • Equivalent to planting 398 trees a year
  • Equivalent to driving 21,460 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $2,766 a year
Est. Price
$30,646
Savings from a 11kWthis system
  • Est. yearly production 16,269 kWh
  • Est. monthly savings $212
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 8.77 tons a year
  • Equivalent to planting 403 trees a year
  • Equivalent to driving 21,713 mi less a year

Henry County Solar Panel Installation Incentives & Rebates | 2024

If you currently own a agricultural property or small business in a rural area, the REAP Grant could cover between 80% and 100% of your solar energy or wind turbine installation costs. To see if you qualify, use our REAP Grant eligibility tool.

A 30% federal tax credit is accessible to most homeowners for residential solar installations, which renders solar energy a practical choice in numerous regions throughout the United States. Furthermore, many regional and state programs are designed to encourage more people to switch to solar power.

Multiple utilities and governmental organizations in Indiana offer 6 solar rebate and incentive programs.

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 Henry County, IN?

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 Henry County. In Henry County, IN, a 5 kW solar system installation might save you $36,866 on average over 20 years, with a typical break even point of 5 years.

The cost of not having solar panels in Henry County, IN

Besides forgoing the aforementioned savings, not having solar panels or any backup energy system makes you totally reliant on your electric utility for power. Several recent examples in the news have revealed that full reliance on your utility company isn't always ideal.

Henry County utilities have recorded 0.94 outages per customer per year recently. The average length of an outage is 107.47 minutes. In events like wildlife damage, overloaded power grids or wildfires, this duration can extend significantly.

Take a look at the info below to see the number of current electricity customers without power in Henry County.

Whether a backup battery is present or not, a solar panel system could ease the burden of potential future outages.

Power Outages

Currently, 0 customers are being tracked in Henry County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Henry County, IN?

Your Energy Needs - The upfront cost for larger solar panel systems is greater, but the cost per watt diminishes as the system size increases. Homeowners often discover that installing a solar system that can offset their entire electric bill is beneficial, resulting in maximum savings.

Make & Model - Similar to other items, solar panels and mounting equipment are available in a wide variety of makes and models. The preferences for brand that your installer has may make it essential to select a reputable installer. The selection of superior makes and models can substantially improve the long-term experience for buyers.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even though they are costlier, they provide additional energy. Most installers use panels constructed from this material.

Your Property - Each property and residence is unique. Issues like irregular terrain, trees, or additional obstacles may add to the complexity of the installation. Nowadays, satellite images allow many solar installers to evaluate your home and factor in these elements into the first cost estimate.

Labor Rates - Employees get varied wages from different companies, and these costs are borne by the consumers. Higher reviews for work and customer service are frequently associated with businesses that pay higher wages.

Permitting & Interconnection - The cost of installation will be impacted by different local permitting and utility interconnection fees. Reliable local installers will integrate these figures into your preliminary estimates to prevent any surprises.

See what solar panels cost in other Henry County cities

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Who are the best solar installers in Henry County?

YellowLite

Cleveland, OH(216) 333-1364

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Silver Sun Solar

Deltona, FL(407) 832-42452

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Icon Solar

Milford, OH(513) 396-7777

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Henry County, IN Solar Panel Cost FAQs

  • As of November, 2024, the average per-watt cost for solar panels in Henry County, IN is $3.98/W. The approximate cost of a 5 kW solar panel system in Henry County, IN, after deducting federal tax credits, is $13,930.

  • Utilities and government agencies in Indiana are currently offering 6 different rebates and incentives. On top of that, nearly everyone can qualify for the 30% federal tax credit.

  • While cash payments offer the most savings, there are now various financing options for solar panels that are also financially beneficial. Information about financing options will often be provided in your preliminary quotes by many installers.

  • Yes, in Henry County, IN, 5 kW solar panel systems usually pay off in 5 years, providing an average electricity cost savings of $36,866 over a 20-year period.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-11-04