Solar Panels Cost $19k-$30k in Miami County, IN | December, 2024
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How much do solar panels cost in Miami County, IN in 2024?
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During December, 2024, the current cost of solar panels in Miami County, IN was $3.99/W.
Stemming from this price, solar panel installations will cost you, on average, $3,990 per 1000 watts (1 kW) of generation capacounty. A 5 kW solar panel system in Miami County will typically cost you $13,965 after applying the 30% federal tax credit. It's important to note that a bigger system might be required to satisfy your energy demands.
To your left, you have the option to choose your county and view the typical roof size along with the average maximum capacity for solar panel installations on homes in your area. The following analysis, below, highlights the price, 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.
Miami County: $13,965US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Miami 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.
Miami County: $23,202US Average: $16,152
Solar Potential in Miami County
Estimated system size and solar electricity production per median viable roof in Miami County.
Roof size 644sq. ft.
Capacity 9kW DC
Electricity 10kkWh AC per yr.
Electricity Costs in Miami County, IN & What that Means for Your Solar Panel Pricing
For Miami County energy consumers, the typical monthly kWh usage is 1,351, with an average electric bill of 179.80. This figure also encompasses the energy needs of apartments and smaller homes.
In December 2024, the electricity rate in Miami County, IN is on average 13.3¢ per kWh.
Initially, an 11 kW solar system is around $43,890, with the federal tax credit returning 30% of your investment amount, reducing the price to $30,723.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Miami County
To the left side and below, you will see the pricing details for different sizes of solar panel systems installed in Miami County. When you opt for a larger solar system, the cost is larger, but it also results in greater electricity savings and a greater income tax credit.
The solar panel cost calculator to the right and below breaks down costs and benefits, using an average $179.80 electric bill in Miami County Change the $179.80 with your typical electricity bill to get more accurate results.
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 $1,346 a year
Est. Price
$19,551
Savings from a 7kWthis system
Est. yearly production 10,353 kWh
Est. monthly savings $112
Full payback in 9 years
Environmental Impacts
Reduces CO2 emissions by 5.62 tons a year
Equivalent to planting 258 trees a year
Equivalent to driving 13,906 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,538 a year
Est. Price
$22,344
Savings from a 8kWthis system
Est. yearly production 11,832 kWh
Est. monthly savings $128
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 6.42 tons a year
Equivalent to planting 295 trees a year
Equivalent to driving 15,893 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,730 a year
Est. Price
$25,137
Savings from a 9kWthis system
Est. yearly production 13,311 kWh
Est. monthly savings $144
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 7.22 tons a year
Equivalent to planting 332 trees a year
Equivalent to driving 17,880 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,923 a year
Est. Price
$27,930
Savings from a 10kWthis system
Est. yearly production 14,790 kWh
Est. monthly savings $160
Full payback in 13 years
Environmental Impacts
Reduces CO2 emissions by 8.03 tons a year
Equivalent to planting 369 trees a year
Equivalent to driving 19,866 mi less a year
System Size 11kW
Roof Size Min. space required
787 ft²
Electricity Value Annual Production $2,115 a year
Est. Price
$30,723
Savings from a 11kWthis system
Est. yearly production 16,269 kWh
Est. monthly savings $176
Full payback in 14 years
Environmental Impacts
Reduces CO2 emissions by 8.83 tons a year
Equivalent to planting 405 trees a year
Equivalent to driving 21,853 mi less a year
Miami County Solar Panel Installation Incentives & Rebates | 2024
Eligible rural small businesses and farmlands might have their solar energy or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. Think you are eligible? Use our REAP Grant eligibility tool to verify your qualification.
With the 30% federal income tax credit, nearly all homeowners qualify for residential solar, making it a practical option in many regions in the United States. Furthermore, many state and local programs are intended to encourage more people to use solar power.
Residents of Indiana can access 6 solar rebate and incentive programs from a range of utilities and governmental agencies.
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 Miami County, IN?
For those in Miami County planning to stay in their homes past the payback period of their solar system, solar panels make excellent sense. Installing a 5 kW solar system in Miami County, IN will, on average, save you $29,187 over 20 years, and you can expect to break even in about 6 years.
The cost of not having solar panels in Miami County, IN
Beyond forgoing the savings highlighted above, the absence of solar panels or another backup energy solution leads to total dependency on your electric utility for power. Many recent news reports have highlighted that relying entirely on your utility isn't always ideal.
There are about 0.72 outages per customer annually in Miami County. On average, an outage lasts 79.01 minutes. When major events such as overloaded power grids, wildfires or construction accidents occur, these durations can increase significantly
View the info below to see the number of current electricity customers without power in Miami County.
A solar energy system, regardless of whether it has a backup battery or not, should help relieve the strain of future power outages you may face.
Power Outages
Currently, 0 customers are being tracked in Miami County.
What impacts the cost of solar panels in Miami County, IN?
Your Energy Needs - Larger solar panel setups come with a greater price tag, yet the cost per watt reduces as the size of the system expands. A lot of people find it useful to set up a solar energy system that can offset their entire electric bill. This ensures optimal savings.
Make & Model - Solar panels are offered in a range of makes and models. The installer you select may have certain system preferences, so it's important to select a reputable installer. For buyers desiring a superior long-term experience, choosing better quality makes and models is important.
Solar Panel Type - For good reasons, monocrystalline panels have become the standard in the industry. These panels are more expensive but generate more energy. The majority of installers in the industry use panels made of this material.
Your Property - Each property and home is one of a kind. Trees, uneven ground, or additional hindrances can increase the difficulty of installing solar panels. Using satellite images, solar installers currently can assess your home and include these elements into the preliminary cost estimate.
Labor Rates - Various wages are paid to employees by various companies, and these expenses are passed on to the consumers. It is frequently observed that companies with higher wages get superior reviews for their services and customer service.
Permitting & Interconnection - Your installation cost will be impacted by area-specific permitting and utility interconnection fees. That said, experienced local installers will be able to integrate these numbers into your preliminary quotes so there are no surprises.
See what solar panels cost in other Miami County cities
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Miami County, IN Solar Panel Cost FAQs
As recorded in December, 2024, the standard cost for solar panel installations in Miami County, IN is $3.99/W. With the federal tax credit, the cost of a 5 kW solar panel system in Miami County, IN drops to roughly $13,965.
There are 6 rebates and incentives available in Indiana from a range of utility providers and government organizations. On top of that, most individuals are eligible for the 30% federal income tax credit.
While cash payments offer the most savings, there are now many financing options for solar panels that are also financially beneficial. Financing partners are often associated with many installers, and this will be provided in your initial quotes.
Yes, in Miami County, IN, the average time for 5 kWsolar panel systems to pay for themselves is 6 years, leading to electricity savings of $29,187 over a 20-year period.
Savings from 
Environmental Impacts 
