Solar Panels Cost 11k-22k in Lakes of the Four Seasons CDP, IN | October, 2024

Solar Panels Cost $11k-$22k in Lakes of the Four Seasons CDP, IN | October, 2024

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How much do solar panels cost in Lakes of the Four Seasons CDP, IN in 2024?

To go solar in Lakes of the Four Seasons CDP, IN in October, 2024 is approximately $4.09/W.

Each 1 kW (1000 watts) of solar power capacity will require an investment of $4,090 for installation. We can come to this conclusion in accordance with this rate price cost per watt. A 5 kW panel install in Lakes of the Four Seasons CDP will generally cost you $14,315 after the 30% federal tax credit. Please note that a larger system may be needed to ensure your energy requirements are met.

By selecting your county on the left, you can discover the average roof size and the average maximum capacity for residential solar panel systems in your area. The following analysis, below, highlights the costs, 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.
Lakes of the Four Seasons CDP: $14,315US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Lakes of the Four Seasons CDP: 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.
Lakes of the Four Seasons CDP: $10,606US Average: $15,784

Solar Potential in Lakes of the Four Seasons CDP

Estimated system size and solar electricity production per median viable roof in
Lakes of the Four Seasons CDP.

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

Electricity Costs in Lakes of the Four Seasons CDP, IN & What that Means for Your Solar Panel Pricing

Energy consumers in Lakes of the Four Seasons CDP typically use 944 kWh per month, with an average monthly bill of $129.40. This number also comprises data from smaller living spaces like apartments with less energy needs.This figure includes the energy usage patterns of smaller dwellings, including apartments.

In October 2024, the mean electricity rate in Lakes of the Four Seasons CDP, IN is 13.7¢ per kWh.

The average energy user in Lakes of the Four Seasons CDP will need an 8 kW or larger solar setup to cover their full energy usage demands. You'll spend $22,904 on an 8 kW solar panel installation after including the 30% federal income tax credit in your calculations.

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Average solar panel costs by system size in Lakes of the Four Seasons CDP

To the left, you'll see a detailed price breakdown of the various sizes of solar panel systems set up in Lakes of the Four Seasons CDP. With larger solar systems, the price goes up, but so do the electricity savings and the income tax credits you can receive.

The solar panel cost and benefit breakdown, displayed in the calculator below and to the right, is based on an average electric bill of $129.40 in Lakes of the Four Seasons CDP. Change the $129.40 to your average electricity bill payment for more detailed results.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $828 a year
Est. Price
$11,452
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $69
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 4.89 tons a year
  • Equivalent to planting 225 trees a year
  • Equivalent to driving 12,108 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,035 a year
Est. Price
$14,315
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $86
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 6.11 tons a year
  • Equivalent to planting 281 trees a year
  • Equivalent to driving 15,135 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,242 a year
Est. Price
$17,178
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $104
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 7.34 tons a year
  • Equivalent to planting 337 trees a year
  • Equivalent to driving 18,163 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,449 a year
Est. Price
$20,041
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $121
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 8.56 tons a year
  • Equivalent to planting 393 trees a year
  • Equivalent to driving 21,190 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,656 a year
Est. Price
$22,904
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $129
  • 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

Lakes of the Four Seasons CDP Solar Panel Installation Incentives & Rebates | 2024

Rural small businesses and farms can benefit from the REAP Grant, which may cover between 80% and 100% of your solar energy or wind turbine installation costs. Believe you fall into this category? Check your qualification with our REAP Grant eligibility tool.

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

Multiple utilities and governmental agencies in Indiana offer 4 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.

Are solar panels worth it in Indiana?

If you're intending to stay in your home past the period required to pay back your solar investment, installing solar panels is a good decision in Lakes of the Four Seasons CDP. A 5 kW solar system in Lakes of the Four Seasons CDP, IN might save you an average of $16,741 over 20 years, with the break even point usually being 9 years.

The cost of not having solar panels in Lakes of the Four Seasons CDP, IN

In addition to forgoing the savings mentioned previously, not installing solar panels or another form of backup power results in you being completely dependent on your electric utility. Full reliance on your utility provider isn't always ideal, as recent examples in the news have shown.

On average, customers in Lake County have experienced 0.95 utility outages per year recently. On average, an outage lasts 143 minutes. When major events such as wildfires, planned maintenance, or equipment failure occur, these durations can increase significantly

With or without a backup battery, a solar panel system could reduce the stress of future power disruptions you might encounter.

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 Lakes of the Four Seasons CDP, IN?

Your Energy Needs - The price per watt lowers with larger solar panel systems, even though the upfront cost is larger. For most consumers, installing a system that can produce enough power to reduce their entire electric bill is useful, providing significant savings.

Make & Model - Like many products, solar panels and mounting equipment are offered in a variety of makes and models. The system preferences of your selected installer can make it crucial to select a reputable installer. The use of better materials is probably will result in a more satisfactory long-term experience for buyers.

Solar Panel Type - For good reason why monocrystalline panels are now considered the industry standard. They come with a higher price but are more energy-efficient. The majority of solar panel installers use panels made of this material.

Your Property - No two properties or homes are identical. Trees, uneven landscapes, or additional hurdles can increase the difficulty of the installation. These days, the majority of solar installers can evaluate your home with satellite images and incorporate these elements in the preliminary cost estimate.

Labor Rates - Various wages are paid to employees by various companies, and these expenses are transferred to the consumers. It is often observed that companies with higher wages receive superior reviews for their services and customer service.

Permitting & Interconnection - Your final installation price will be influenced by the permitting and utility interconnection fees, which change by area. That said, experienced local installers will be able to build 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 Lakes of the Four Seasons CDP?

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.

Lakes of the Four Seasons CDP, IN Solar Panel Cost FAQs

  • As of October, 2024, the typical cost for solar panels in Lakes of the Four Seasons CDP, IN is $4.09/W. In Lakes of the Four Seasons CDP, IN, the cost of installing a 5 kW solar panel system is approximately $14,315 after applying the federal tax credit.

  • At present, there are 4 rebates and incentives available to Indiana residents from various utility and government programs. Additionally, the vast majority qualify for the 30% federal tax credit.

  • Paying in cash provides the highest savings, but there are several financing options available today for solar panels that are also financially advantageous. Information about financing options is typically detailed in initial quotes provided by installers.

  • Yes, solar panels systems of 5 kW in Lakes of the Four Seasons CDP, IN typically have a payback period of 9years, with expected savings on electricity costs of $16,741 over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01