Solar Panels Cost $11k-$22k in Marion County, IN | November, 2024
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How much do solar panels cost in Marion County, IN in 2024?
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It averages out to $3.94 per watt to go solar in Marion County, IN in November, 2024.
It will cost $3,940, on average, per 1000 watts (1 kW) your solar system can produce. In Marion County, when you deduct the 30% federal income tax credit, a 5 kW solar setup sets you back $13,790. To fulfill your energy demands, you could require more than a 5kW system.
By selecting your county on the left, you can see the typical roof size and the average maximum capacity for residential solar panel systems in your area. Shown below is an overview of 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.
Marion County: $13,790US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Marion County: 10 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Marion County: $8,975US Average: $16,169
Solar Potential in Marion County
Estimated system size and solar electricity production per median viable roof in Marion County.
Roof size 679sq. ft.
Capacity 9.5kW DC
Electricity 11kkWh AC per yr.
Electricity Costs in Marion County, IN & What that Means for Your Solar Panel Pricing
On average, Marion County residents use 898 kWh each month, and the electric bill is 119.48. Keep in mind that this number takes into account smaller residences including apartments, known for less energy use.
In November 2024, Marion County, IN's average electricity rate amounts to 13.31¢ per kWh.
The projected cost for an 8 kW setup is $31,520 initially, but with a 30% federal tax credit, it drops to $22,064.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Marion County
Shown on the left and below is the pricing structure for multiple sizes of the solar panel systems set up in Marion County. Although a more extensive solar installation carries a higher price tag, it also offers higher electricity savings and larger income tax credits.
Using the solar panel cost calculator located down and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $119.48 in Marion County. For more specific results, just change the $119.48 with whatever your usual electricity bill is.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $734 a year
Est. Price
$11,032
Savings from a 4kWthis system
Est. yearly production 5,649 kWh
Est. monthly savings $61
Full payback in 8 years
Environmental Impacts
Reduces CO2 emissions by 4.71 tons a year
Equivalent to planting 216 trees a year
Equivalent to driving 11,667 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $918 a year
Est. Price
$13,790
Savings from a 5kWthis system
Est. yearly production 7,061 kWh
Est. monthly savings $76
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 5.89 tons a year
Equivalent to planting 271 trees a year
Equivalent to driving 14,584 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,102 a year
Est. Price
$16,548
Savings from a 6kWthis system
Est. yearly production 8,474 kWh
Est. monthly savings $92
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 7.07 tons a year
Equivalent to planting 325 trees a year
Equivalent to driving 17,501 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,285 a year
Est. Price
$19,306
Savings from a 7kWthis system
Est. yearly production 9,886 kWh
Est. monthly savings $107
Full payback in 13 years
Environmental Impacts
Reduces CO2 emissions by 8.25 tons a year
Equivalent to planting 379 trees a year
Equivalent to driving 20,418 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,469 a year
Est. Price
$22,064
Savings from a 8kWthis system
Est. yearly production 11,298 kWh
Est. monthly savings $119
Full payback in 15 years
Environmental Impacts
Reduces CO2 emissions by 9.17 tons a year
Equivalent to planting 421 trees a year
Equivalent to driving 22,687 mi less a year
Marion County Solar Panel Installation Incentives & Rebates | 2024
For rural small businesses and agricultural properties, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. If you consider yourself eligible, we recommend using our REAP Grant eligibility tool to confirm your qualification.
Homeowners can benefit from a 30% federal income tax credit for setting up residential solar panels, making solar power a sensible option across much of the country. Additionally, a variety of state and local programs are available to incentivize solar adoption.
Indiana provides 6 solar rebates and incentives from different utility companies and government organizations.
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 Marion County, IN?
If your goal is to keep your home well past the payback period of your solar system, solar panels are an excellent choice in Marion County. If you install a 5 kW solar system in Marion County, IN, you might save $14,885.2 over 20 years on average, with a break even point at roughly 10 years.
The cost of not having solar panels in Marion County, IN
In addition to missing out on the savings mentioned above, not installing solar panels or an alternative backup energy source means total reliance on your electric utility for electricity. The news has provided several examples highlighting that relying entirely on your utility isn't always ideal.
Marion County utilities have averaged 0.92 outages per customer per year recently. Usually, outages have an average duration of 89.06 minutes. However, during critical events like wildlife damage, overloaded power grids or winter storms, these times can extend dramatically.
See the info below to see the number of current electricity customers without power in Marion County.
With or without a backup battery, a solar panel system could relieve the stress of future power disruptions you might face.
Power Outages
Currently, 0 customers are being tracked in Marion County.
What impacts the cost of solar panels in Marion County, IN?
Your Energy Needs - The cost per watt drops with larger solar panel systems, even if the upfront cost is larger. Consumers often discover that setting up a solar system to replace their electric bill is a smart choice, resulting in the most savings.
Make & Model - Like many products, solar panels and mounting equipment are offered in a variety of makes and models. Because the installer you choose might have specific brand preferences, selecting a reputable installer is even more important. Higher quality makes and models generally result in a more satisfactory long-term experience for buyers.
Solar Panel Type - Monocrystalline panels have established themselves as the industry standard, and for valid reasons. Even with a higher cost, this technology generate more energy. Most installers opt for panels crafted using this material.
Your Property - No two homes or properties are the same. Elements such as sloped land, trees, or other obstacles might complicate the installation process. These days, many solar installers can leverage satellite imagery to evaluate your home and incorporate these aspects into the preliminary cost estimate.
Labor Rates - Companies pay their employees in varying amounts, and these costs are borne by consumers. Businesses that pay higher wages frequently receive higher reviews for their work and customer service.
Permitting & Interconnection - Depending on the area, local permitting and utility interconnection fees will influence the cost of your installation. Reputable local installers will include these numbers into your initial quotes to prevent any surprises.
See what solar panels cost in other Marion County cities
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Marion County, IN Solar Panel Cost FAQs
In Marion County, IN, the mean cost per watt for solar panels as recorded in November, 2024 is $3.94/W. With the federal tax credit, the cost of a 5 kW solar panel system in Marion County, IN drops to roughly $13,790.
There are 6 rebates and incentives available in Indiana from a range of utility providers and government organizations. Furthermore, the majority of people qualify for the 30% federal tax credit.
Although cash payments offer the greatest savings, many financing options for solar panels now exist that are also beneficial. Many installers will provide information about their financing partners in the initial quotes they provide.
Yes, the average time to recoup the cost of 5 kW solar panels in Marion County, IN is 10 years, with homeowners saving an average of $14,885.2 on electricity over 20 years.
Savings from 
Environmental Impacts 
