Solar Panels Cost $19k-$31k in Martin County, IN | November, 2024
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How much do solar panels cost in Martin County, IN in 2024?
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It costs about $4.07/W in November, 2024 in Martin County, IN to go solar.
It will cost $4,070, on average, per 1K (or 1000 watts) of capacounty that your solar panels have. When you deduct the 30% federal tax credit, the cost of a 5 kW solar panel install in Martin County typically comes to around $14,245. A higher capacity system may be essential to fulfill your energy needs.
On the left, choose your area to view the typical roof size and the maximum production capacity for solar panel systems on homes in your county. 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.
Martin County: $14,245US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Martin County: 6 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Martin County: $28,920US Average: $16,169
Solar Potential in Martin County
Estimated system size and solar electricity production per median viable roof in Martin County.
Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.
Electricity Costs in Martin County, IN & What that Means for Your Solar Panel Pricing
The typical energy consumer in Martin County has a monthly electric bill of 205.29 and uses 1,317 kWh on average. These statistics also take into account apartments and other smaller homes with generally lower energy consumption.
In November 2024, the average electricity rate in Martin County, IN is 15.59¢ per kWh.
Currently, an 11 kW solar system is priced at around $31,340 after incentives.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Martin County
To the left and below, you can find a detailed pricing breakdown for multiple solar panel system sizes set up in Martin County. The more extensive the solar array, the greater the initial expense, but also the greater electricity savings and income tax credits you'll get.
Check the solar panel cost calculator below and to the right to see the cost and benefit details based on an average $205.29 electric bill in Martin County. For custom results, adjust the $205.29 to whatever your average electricity bill is.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,656 a year
Est. Price
$19,943
Savings from a 7kWthis system
Est. yearly production 10,353 kWh
Est. monthly savings $138
Full payback in 8 years
Environmental Impacts
Reduces CO2 emissions by 4.96 tons a year
Equivalent to planting 228 trees a year
Equivalent to driving 12,274 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,893 a year
Est. Price
$22,792
Savings from a 8kWthis system
Est. yearly production 11,832 kWh
Est. monthly savings $158
Full payback in 9 years
Environmental Impacts
Reduces CO2 emissions by 5.67 tons a year
Equivalent to planting 260 trees a year
Equivalent to driving 14,027 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $2,130 a year
Est. Price
$25,641
Savings from a 9kWthis system
Est. yearly production 13,311 kWh
Est. monthly savings $177
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 6.38 tons a year
Equivalent to planting 293 trees a year
Equivalent to driving 15,781 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,366 a year
Est. Price
$28,490
Savings from a 10kWthis system
Est. yearly production 14,790 kWh
Est. monthly savings $197
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 7.08 tons a year
Equivalent to planting 325 trees a year
Equivalent to driving 17,534 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $2,603 a year
Est. Price
$31,339
Savings from a 11kWthis system
Est. yearly production 16,269 kWh
Est. monthly savings $205
Full payback in 13 years
Environmental Impacts
Reduces CO2 emissions by 7.36 tons a year
Equivalent to planting 338 trees a year
Equivalent to driving 18,228 mi less a year
Martin County Solar Panel Installation Incentives & Rebates | 2024
For rural small businesses and agricultural enterprises, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Think you fall into this category? Check your qualification with our REAP Grant eligibility tool.
Nearly all residents can qualify for a 30% federal income tax credit for residential solar, which makes it a feasible option in numerous areas of the United States. In addition, there are many state and local initiatives aimed at further promote the uptake of solar energy.
Multiple utilities and government agencies in Indiana have 6 solar rebate and incentive programs.
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 Martin County, IN?
If you intend to own your residence longer than the solar system's payback period, solar panels are a wise investment in Martin County. Over a 20 year period, a 5 kW solar system in Martin County, IN could save you around $35,024.6, with the average break even time being 6 years.
The cost of not having solar panels in Martin County, IN
If you don't have solar panels or an alternative backup power source, you forgo the aforementioned savings and your household is entirely dependent on your electric utility for electricity. The news has recently demonstrated that relying entirely on your utility provider isn't always ideal.
Throughout Martin County, there are about 1.3 outages per customer annually. Each outage, on average, lasts for 162.93 minutes. In the case of major events like construction accidents, equipment failure or winter storms, this period can rise substantially.
View the graphic below to see the number of current electricity customers without power in Martin County.
A solar panel system with (or without) a backup battery could ease the pressure of future outages you encounter.
Power Outages
Currently, 0 customers are being tracked in Martin County.
What impacts the cost of solar panels in Martin County, IN?
Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is higher. Setting up a solar system that produces sufficient electricity to eliminate their electric bill is beneficial to most homeowners, ensuring savings.
Make & Model - Just like other industries, the solar energy sector offers a range of solar panel and mounting equipment brands and designs. Since your installer may prefer certain brands, it's essential to pick a recommended company. Selecting superior quality materials usually ensures a more favorable long-term experience for the buyer.
Solar Panel Type - The standard in the industry is now monocrystalline panels, and for good reason. These panels are more expensive but offer a higher energy efficiency. Many installers in the industry use panels crafted of this material.
Your Property - Sloping terrain, trees, or additional considerations can increase the difficulty of the installation. These days, solar installers typically use satellite images to assess your home and include these elements into the first cost estimate.
Labor Rates - Various wages are paid to employees by various companies, and these costs are borne by the consumers. Businesses that invest in higher wages often see higher reviews for their services and customer service.
Permitting & Interconnection - The cost of your installation will be impacted by the local permitting and utility interconnection fees, which vary depending on the area. That said, quality local installers will be able to incorporate these numbers into your first quotes so there are no surprises.
See what solar panels cost in other Martin County cities
Go Solar for less than your cell phone bill.
Who are the best solar installers in Martin County?
Solar systems for selling electricity back to the grid.
Expertise in consulting on advantageous financing for solar.
Consulting on all things solar related.
Martin County, IN Solar Panel Cost FAQs
The typical cost per watt for solar panels in Martin County, IN as of November, 2024 is $4.07/W. The approximate cost of a 5 kW solar panel system in Martin County, IN, after deducting federal tax credits, is $14,245.
Right now, Indiana has 6 rebates and incentives available through a variety of utility companies and government entities. Furthermore, almost all individuals are entitled to the 30% federal income tax credit.
Even though paying cash offers the best savings, there are now multiple financing options for solar panels that are also financially beneficial. Many installers will include information about financing options in their initial quotes.
Yes, in Martin County, IN, the average time for 5 kWsolar panel systems to pay for themselves is 6 years, leading to electricity savings of $35,024.6 over a 20-year period.
Savings from 
Environmental Impacts 
