Solar Panels Cost $16k-$28k in Morgan County, IN | November, 2024
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How much do solar panels cost in Morgan County, IN in 2024?
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Solar systems in Morgan County, IN during November, 2024 typically are $4.01 per watt.
Or in other words, for every 1000 watts (or 1 Kw) your system can generate you will spend $4,010 to get your system installed in . After deducting the 30% federal tax credit, the cost of a 5 kW solar panel system in Morgan County typically totals up to around $14,035. Note that a more powerful system may be required to adequately cover your energy requirements.
On the left-hand side, you can choose your county to find out the average roof size and the maximum capacity for solar panels in residences in your area. The following summary, below, highlights the price, payback period, and 20-year average savings for a 5 kW system installed in your county.
Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Morgan County: $14,035US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Morgan 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.
Morgan County: $20,668US Average: $16,169
Solar Potential in Morgan County
Estimated system size and solar electricity production per median viable roof in Morgan County.
Roof size 787sq. ft.
Capacity 11kW DC
Electricity 12.8kkWh AC per yr.
Electricity Costs in Morgan County, IN & What that Means for Your Solar Panel Pricing
The average monthly electric bill for a Morgan County energy consumer is 169.66, based on an average usage of 1,121 kWh. Smaller homes, including condos and bungalows, are also encompassed by the statistics indicated in the previous sentence.
In November 2024, the electricity rate in Morgan County, IN averages 15.14¢ per kWh.
Before any incentives, a 10 kW solar panel system will cost around $40,100, with the 30% tax credit, the price drops to $28,070.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Morgan County
Displayed on the left, you will find a price breakdown for various solar panel system sizes set up in Morgan County. As expected, a more extensive solar system implies a greater initial expense, but it also results in increased electricity savings and larger income tax credits.
Look at the solar panel cost calculator to the right and below to see the cost and benefit details calculated from an average $169.66 electric bill in Morgan County. If you want more personalized results, just modify the $169.66 to whichever your average electricity bill is.
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
$16,842
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 3.39 tons a year
Equivalent to planting 155 trees a year
Equivalent to driving 8,380 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,553 a year
Est. Price
$19,649
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 3.95 tons a year
Equivalent to planting 181 trees a year
Equivalent to driving 9,777 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,775 a year
Est. Price
$22,456
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 4.51 tons a year
Equivalent to planting 207 trees a year
Equivalent to driving 11,173 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,997 a year
Est. Price
$25,263
Savings from a 9kWthis system
Est. yearly production 13,311 kWh
Est. monthly savings $166
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 5.08 tons a year
Equivalent to planting 233 trees a year
Equivalent to driving 12,570 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,218 a year
Est. Price
$28,070
Savings from a 10kWthis system
Est. yearly production 14,790 kWh
Est. monthly savings $170
Full payback in 14 years
Environmental Impacts
Reduces CO2 emissions by 5.19 tons a year
Equivalent to planting 238 trees a year
Equivalent to driving 12,843 mi less a year
Morgan County Solar Panel Installation Incentives & Rebates | 2024
Rural entrepreneurs and farmers might find that the REAP Grant pays for 80% to 100% of their costs when installing solar energy or wind energy systems. Wondering if you are eligible? Our REAP Grant eligibility tool can help you find out.
Homeowners can benefit from a 30% federal income tax credit for installing residential solar panels, which makes solar power a feasible option across much of the country. Moreover, many state and local programs are intended to encourage more people to adopt solar power.
In Indiana, multiple utilities and government organizations offer 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 Morgan County, IN?
Intending to stay in your house beyond the solar payback period? Solar panels are a wise investment in Morgan County. Installing a 5 kW solar system in Morgan County, IN will, on average, save you $26,683.4 over 20 years, and you can expect to break even in about 7 years.
The cost of not having solar panels in Morgan County, IN
The absence of solar panels or another backup power source results in missing out on the previously highlighted savings and full dependence on your electric utility for power. Recent news coverage has revealed that total dependence on your utility company isn't always the most favorable scenario.
Each year, the utilities in Morgan County have recorded about 1.08 outages per customer. Outages generally last for an average of 107.12 minutes. During major occurrences like lightning strikes, overloaded power grids, or wildlife damage, these times can extend significantly.
Take a look at the info below to see the number of current electricity customers without power in Morgan County.
A solar energy system could help mitigate the effects of future outages, with or without a backup battery.
Power Outages
Currently, 0 customers are being tracked in Morgan County.
What impacts the cost of solar panels in Morgan County, IN?
Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is greater. Consumers often find that setting up a solar system that can offset their entire electric bill is useful, resulting in optimal savings.
Make & Model - There are a wide variety of makes and models of solar panels. Because the installer you select might have particular brand preferences, choosing a reputable contractor is even more important. Consumers who opt for better equipment usually enjoy a more favorable long-term experience.
Solar Panel Type - Monocrystalline panels have established themselves as the standard in the industry, and justifiably so. Even with a higher cost, this technology generate more energy. Many installers choose panels made using this material.
Your Property - Every home and property differs in its own way. Challenges like uneven land, trees, or additional challenges can increase the difficulty of installing solar panels. These days, the majority of solar installers are able to utilize satellite images to assess your home and incorporate these elements for the preliminary cost estimate.
Labor Rates - The pay employees get from their employers are different, and these expenses are transferred to the consumers. Businesses often get higher reviews for their services and customer service when they offer better wages.
Permitting & Interconnection - The final price of your installation will be affected by local permitting and utility interconnection fees, which vary by location. Quality local installers will include these figures in your first estimates to ensure transparency.
See what solar panels cost in other Morgan County cities
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Morgan County, IN Solar Panel Cost FAQs
The typical cost per watt for solar panels in Morgan County, IN as of November, 2024 is $4.01/W. The approximate cost of a 5 kW solar panel system in Morgan County, IN, after deducting federal tax credits, is $14,035.
Residents of Indiana can currently take advantage of 6 rebates and incentives offered by various utilities and government bodies. Furthermore, the majority of people qualify for the 30% federal tax credit.
Even though paying cash yields the best savings, there are now multiple financing options for solar panels that are also advantageous. Information about financing options is typically provided in initial quotes provided by installers.
Yes, the payback period for 5 kW solar energy systems in Morgan County, IN averages 7 years, with electricity savings of about $26,683.4 over 20 years.
Savings from 
Environmental Impacts 
