Solar Panels Cost $17k-$29k in Lawrence County, IN | November, 2024
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How much do solar panels cost in Lawrence County, IN in 2024?
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It averages out to $4.15 per watt in the month of November, 2024 in Lawrence County, IN to go solar.
You should expect costs to be $4,150, on average, for every 1 kW (or 1000 watts) of solar energy your solar panel system can generate. You can come up with this number as a result of this rate price cost per watt above. After receiving the 30% federal tax credit, you can expect to pay about $14,525 for a 5 kW solar panel install in Lawrence County. However, keep in mind that you may need a more powerful system to ensure your energy requirements are met.
On the left, you can choose your county to view the average roof size and the maximum capacity for residential solar on houses in your area. You can also see an outline of the costs, payback period and 20 year average savings for a 5 kW system in your county below.
Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Lawrence County: $14,525US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Lawrence County: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Lawrence County: $20,948US Average: $16,169
Solar Potential in Lawrence County
Estimated system size and solar electricity production per median viable roof in Lawrence County.
Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.
Electricity Costs in Lawrence County, IN & What that Means for Your Solar Panel Pricing
Lawrence County energy consumers see typical electric bills of 173.74, based on an average monthly usage of 1,153 kWh. These figures also reflect apartments and other compact residences with lower energy needs.
The average electricity rate in Lawrence County, IN in November 2024 is 15.07¢ per kWh.
At this time, a 10 kW solar panel installation will have an initial cost of about $41,500 before incentives, but the 30% federal tax credit will return 30%, lowering the cost to $29,050.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Lawrence County
Presented on the left side, you will find a detailed pricing structure of the multiple sizes of solar panel systems installed in Lawrence County. A larger solar array will expectedly cost more, but it will also provide greater electricity savings and higher income tax credits.
The solar panel calculator, positioned to the right and below, gives a detailed cost and benefit analysis based on a typical $173.74 electric bill for Lawrence County. Swap the $173.74 with your average electricity bill for custom results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,331 a year
Est. Price
$17,430
Savings from a 6kWthis system
Est. yearly production 8,874 kWh
Est. monthly savings $111
Full payback in 8 years
Environmental Impacts
Reduces CO2 emissions by 5.86 tons a year
Equivalent to planting 269 trees a year
Equivalent to driving 14,503 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,553 a year
Est. Price
$20,335
Savings from a 7kWthis system
Est. yearly production 10,353 kWh
Est. monthly savings $129
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 6.84 tons a year
Equivalent to planting 314 trees a year
Equivalent to driving 16,921 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,775 a year
Est. Price
$23,240
Savings from a 8kWthis system
Est. yearly production 11,832 kWh
Est. monthly savings $148
Full payback in 11 years
Environmental Impacts
Reduces CO2 emissions by 7.81 tons a year
Equivalent to planting 359 trees a year
Equivalent to driving 19,338 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,997 a year
Est. Price
$26,145
Savings from a 9kWthis system
Est. yearly production 13,311 kWh
Est. monthly savings $166
Full payback in 13 years
Environmental Impacts
Reduces CO2 emissions by 8.79 tons a year
Equivalent to planting 404 trees a year
Equivalent to driving 21,755 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,218 a year
Est. Price
$29,050
Savings from a 10kWthis system
Est. yearly production 14,790 kWh
Est. monthly savings $174
Full payback in 14 years
Environmental Impacts
Reduces CO2 emissions by 9.19 tons a year
Equivalent to planting 422 trees a year
Equivalent to driving 22,751 mi less a year
Lawrence County Solar Panel Installation Incentives & Rebates | 2024
If you own a agricultural property or small business in a rural area, the REAP Grant could cover between 80% and 100% of your solar or wind turbine installation costs. Think you are eligible? Use our REAP Grant eligibility tool to see if you are eligible.
For those looking into residential solar, the 30% federal income tax credit is offered to nearly everyone, making solar a feasible option in various states. A number of state and local efforts are set up to enhance the adoption of solar energy.
Indiana residents have access to 6 solar rebate and incentive initiatives from multiple utilities and governmental bodies.
Solar incentives in INIncentive Description Value
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 Lawrence County, IN?
If you're aiming to stay in your home past the period required to pay back your solar investment, installing solar panels is a smart decision in Lawrence County. Installing a 5 kW solar system in Lawrence County, IN will, on average, save you $27,172.6 over 20 years, and you can expect to break even in about 7 years.
The cost of not having solar panels in Lawrence County, IN
Skipping the installation of solar panels or an alternative backup energy source results in missing the earlier mentioned savings and total reliance on your electric utility for power. As recent news articles have pointed out, full dependence on your utility provider isn't always ideal.
Yearly, the utilities in Lawrence County have reported about 1.38 outages per customer. The average duration of each outage is 159.71 minutes. During severe events like thunderstorms, overloaded power grids, or construction accidents, these times can grow significantly longer.
View the graphic below to see the number of current electricity customers without power in Lawrence County.
A solar panel system with (or without) a backup battery could reduce the strain of future outages you face.
Power Outages
Currently, 0 customers are being tracked in Lawrence County.
What impacts the cost of solar panels in Lawrence County, IN?
Your Energy Needs - Larger solar panel systems have a higher upfront cost, but the cost per watt decreases as the system size increases. It is often beneficial for consumers to install a solar system that can generate enough electricity to fully cover their electric bill, which leads to substantial savings.
Make & Model - Like many other products, there are different makes and models of solar panels to choose from. Your installer’s potential system preferences make it essential to select a recommended contractor. For consumers wanting a better long-term experience, choosing superior quality equipment is essential.
Solar Panel Type - Monocrystalline panels have emerged as the standard in the industry, and rightly so. Although the cost is higher, they deliver more energy. The majority of installers use these kinds of panels.
Your Property - Challenges such as irregular terrain, trees, or other obstructions can increase the difficulty of installing solar panels. Solar installers now have the ability to use satellite images to evaluate your home and factor in these considerations in the first cost estimate.
Labor Rates - The differing wages that companies give their employees result in costs that are inevitably transferred to consumers. Businesses that invest in higher wages typically see higher reviews for their work and customer service.
Permitting & Interconnection - Your installation cost will be influenced by area-specific permitting and utility interconnection fees. Quality local installers will integrate these figures into your initial estimates to prevent any surprises.
See what solar panels cost in other Lawrence County cities
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Lawrence County, IN Solar Panel Cost FAQs
As of November, 2024, the average solar panel installation cost in Lawrence County, IN has reached $4.15/W. With the federal tax credit, the cost of a 5 kW solar panel system in Lawrence County, IN drops to roughly $14,525.
Residents of Indiana can currently take advantage of 6 rebates and incentives offered by various utilities and government bodies. Additionally, the vast majority qualify for the 30% federal tax credit.
Opting for cash payments provides the highest savings, but there are now numerous financing options for solar panels that are financially sensible. Many installers have partnerships with financing companies and will provide this information in your initial quotes.
Yes, the typical duration for 5 kW solar panel systems to pay back their cost in Lawrence County, IN is 7 years, with electricity savings estimated at $27,172.6 over 20 years.
Savings from 
Environmental Impacts 
