Solar Panels Cost 2.8k-14k in Mishawaka, IN | October, 2024

Solar Panels Cost $2.8k-$14k in Mishawaka, IN | October, 2024

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How much do solar panels cost in Mishawaka, IN in 2024?

As of October, 2024, the current cost to get solar panels installed in Mishawaka, IN is $4 per watt.

Said another way, for every 1000 watts (or 1 Kw) your system can generate you will spend $4,000 to get your system installed in . When you deduct the 30% federal tax credit, you can expect to spend approximately $14,000 for a 5 kW solar setup in Mishawaka. It's vital to consider that a higher capacity system might be essential to fulfill your energy needs.

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.
Mishawaka: $14,000US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Mishawaka: 18 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Mishawaka: $-4,273US Average: $15,784

Solar Potential in Mishawaka

Estimated system size and solar electricity production per median viable roof in
Mishawaka.

Roof size 608sq. ft.
Capacity 8.5kW DC
Electricity 9.1kkWh AC per yr.

Electricity Costs in Mishawaka, IN & What that Means for Your Solar Panel Pricing

For Mishawaka energy consumers, the typical electric bill is $65.53 per month, with a usage of 613 kWh. Smaller dwellings, such as townhouses and condos, are also covered in the statistics mentioned in the preceding sentence.

Mishawaka, IN's electricity rate is 10.69¢ per kWh in October 2024.

If you’re a typical electricity consumer in Mishawaka you has to have a 5 kW or higher sized system to take care of all of your energy usage demands. Initially, a 5 kWsetup will cost about $20,000, but with a 30% federal tax credit, the price drops to $14,000.

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Average solar panel costs by system size in Mishawaka

To the left side and below, there is the pricing details for multiple sizes of the solar panel systems set up in Mishawaka. Naturally, with a larger solar system, there will be a larger initial investment, but the advantages include greater energy savings and larger income tax credits.

The solar panel cost calculator, located to the right and below, offers a cost and benefit breakdown using an average $65.53 electric bill for Mishawaka. To get personalized results, adjust the $65.53 to align with your typical electricity payment.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $163 a year
Est. Price
$2,800
Savings from a 1kWthis system
  • Est. yearly production 1,479 kWh
  • Est. monthly savings $14
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 1.83 tons a year
  • Equivalent to planting 84 trees a year
  • Equivalent to driving 4,532 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $325 a year
Est. Price
$5,600
Savings from a 2kWthis system
  • Est. yearly production 2,958 kWh
  • Est. monthly savings $27
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 3.66 tons a year
  • Equivalent to planting 168 trees a year
  • Equivalent to driving 9,064 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $488 a year
Est. Price
$8,400
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $41
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 5.49 tons a year
  • Equivalent to planting 252 trees a year
  • Equivalent to driving 13,596 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $651 a year
Est. Price
$11,200
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $54
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 7.32 tons a year
  • Equivalent to planting 336 trees a year
  • Equivalent to driving 18,128 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $813 a year
Est. Price
$14,000
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $66
  • Full payback in 18 years
Environmental Impacts
  • Reduces CO2 emissions by 8.91 tons a year
  • Equivalent to planting 409 trees a year
  • Equivalent to driving 22,063 mi less a year

Mishawaka 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 4 solar rebate and incentive initiatives from multiple utilities and governmental bodies.

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 planning to stay in your home past the period required to pay back your solar investment, choosing solar panels is a wise decision in Mishawaka. Having a 5 kW solar system in Mishawaka, IN can potentially save you roughly $1,727.2 over a span of 20 years, with an average break even point of 18 years.

The cost of not having solar panels in Mishawaka, 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, customers in Mishawaka face approximately 1.32 outages every year. On average, the length of an outage is 260.05 minutes. Major events like winter storms, wildlife damage, or grid management errors can cause these durations to rise considerably.

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 St. Joseph County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Mishawaka, 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 IN cities

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Who are the best solar installers in Mishawaka?

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.

Mishawaka, IN Solar Panel Cost FAQs

  • As of October, 2024, the average solar panel installation cost in Mishawaka, IN has reached $4/W. After federal tax credits, the installation of a 5 kW solar panel system in Mishawaka, IN is estimated to cost $14,000.

  • Residents of Indiana can currently take advantage of 4 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, on average, 5 kW solar panels in Mishawaka, IN pay for themselves in 18 years, with homeowners saving approximately $1,727.2 on electricity over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01