Solar Panels Cost 8.6k-20k in Muncie, IN | October, 2024

Solar Panels Cost $8.6k-$20k in Muncie, IN | October, 2024

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

Going solar averages out to $4.1 per watt in Muncie, IN in the month of October, 2024.

Utilizing this rate per watt, we can conclude that for every 1000 watts (1 kW) of solar generation capacity will require an investment of $4,100 for installation. In Muncie, the cost of a 5 kW system is generally $14,350, after the 30% federal tax credit. It's worth noting that a larger system might be required to satisfy your energy requirements.

By selecting your county on the left, you can determine the average roof size and the maximum capacity for residential solar on homes in your area. See below a detailed summary of the {price|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.
Muncie: $14,350US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Muncie: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Muncie: $11,046US Average: $15,784

Solar Potential in Muncie

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

Roof size 661sq. ft.
Capacity 9.25kW DC
Electricity 10.3kkWh AC per yr.

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

For Muncie energy consumers, the standard monthly kWh usage is 813, with an average electric bill of $131.44. Compact houses, such as studio apartments or condos, are also encompassed in the figures cited in the previous sentence.

The mean rate for electricity in Muncie, IN in October, 2024 is 16.17¢ per kWh.

In Muncie, a system size of 7 kW or larger is needed for the typical energy consumer to account for all of their power demands. At the moment, a 7 kW setup costs around $28,700, but with a 30% tax credit, it is reduced to $20,090

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Average solar panel costs by system size in Muncie

To the left and below, you can find a detailed pricing breakdown for different solar panel system sizes set up in Muncie. Although a bigger solar installation has a greater cost, it also yields increased electricity savings and more substantial income tax credits.

Check the solar panel cost calculator to the right and below to see the cost and benefit details based on an average $131.44 electric bill in Muncie. Just change the $131.44 to your regular electricity bill for more accurate results.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $710 a year
Est. Price
$8,610
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $59
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 4.13 tons a year
  • Equivalent to planting 190 trees a year
  • Equivalent to driving 10,220 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $947 a year
Est. Price
$11,480
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $79
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 5.51 tons a year
  • Equivalent to planting 253 trees a year
  • Equivalent to driving 13,627 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,183 a year
Est. Price
$14,350
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $99
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 6.88 tons a year
  • Equivalent to planting 316 trees a year
  • Equivalent to driving 17,034 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,420 a year
Est. Price
$17,220
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $118
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 8.26 tons a year
  • Equivalent to planting 379 trees a year
  • Equivalent to driving 20,440 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,656 a year
Est. Price
$20,090
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $131
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 9.14 tons a year
  • Equivalent to planting 420 trees a year
  • Equivalent to driving 22,631 mi less a year

Muncie Solar Panel Installation Incentives & Rebates | 2024

For rural farms and small businesses, the REAP Grant might currently cover between 80% and 100% of the expenses for installing photovoltaic or wind energy systems. Wondering if you qualify? Our REAP Grant eligibility tool can help you check.

For residential solar installations, almost all homeowners qualify for a 30% federal income tax credit, which makes solar energy a feasible choice in many parts of the country. State and local governments have various programs to further encourage the switch to solar energy.

Indiana has 4 solar incentive and rebate programs available through a range of utilities and government bodies.

Solar incentives in IN

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?

Intending to stay in your house beyond the solar payback period? Solar panels are a smart investment in Muncie. In Muncie, IN, a 5 kW solar system installation might save you $17,195.6 on average over 20 years, with a typical break even point of 9 years.

The cost of not having solar panels in Muncie, IN

Forgoing solar panels or an alternative backup energy source means you'll miss out on the savings mentioned above and be fully dependent on your electric utility for power. The news has recently shown us that complete reliance on your utility provider isn't always the best idea.

Over the past few years, customers in Muncie have encountered an average of 1.32 utility outages each year. Typically, outages have an average duration of 260.05 minutes. However, during significant events such as tornadoes, equipment failure, or wildlife damage, these times can drastically increase.

A solar panel system with (or without) a backup battery could ease the stress of future outages you encounter.

Power Outages

Currently, 0 customers are being tracked in Delaware County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Muncie, IN?

Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is decreased as the system size increases. Consumers often realize that installing a solar system that can replace their entire electric bill is advantageous, ensuring maximum savings.

Make & Model - Similar to other industries, the solar energy sector offers a variety of solar panel and mounting equipment brands and designs. Taking into account the system preferences that your installer may have, it's essential to choose a recommended company. Buyers who prioritize superior equipment typically enjoy a superior long-term experience.

Solar Panel Type - For good reason why monocrystalline panels are now the industry standard. Even with a higher cost, this technology yield more energy. The majority of installers opt for panels constructed using this material.

Your Property - Every home and property differs in its own way. Challenges such as trees, sloping terrain, or other barriers can increase the difficulty of installing solar panels. Today, many solar installers can leverage satellite imagery to assess your home and incorporate these aspects into the initial cost estimate.

Labor Rates - Different companies pay varied wages to their employees, and these expenses are eventually borne by the consumers. Businesses often receive higher reviews for their services and customer service when they pay higher wages.

Permitting & Interconnection - Local permitting and utility interconnection fees, which differ by region, will affect your final installation cost. Reputable local installers will integrate these numbers into your first quotes to avoid any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Muncie?

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.

Muncie, IN Solar Panel Cost FAQs

  • As recorded in October, 2024, the standard cost for solar panel installations in Muncie, IN is $4.1/W. For a 5 kW solar panel system, the total cost in Muncie, IN after federal tax credits is around $14,350.
  • If you live in Indiana, you can find 4 rebates and incentives through different utilities and government agencies. Furthermore, the majority of people qualify for the 30% federal tax credit.
  • Choosing to pay cash ensures the most savings, but today there are several financing options for solar panels that are also cost-effective. Installers typically partner with financing companies and will incorporate this information into your initial quotes.
  • Yes, the typical duration for 5 kW solar panel systems to pay back their cost in Muncie, IN is 9 years, with electricity savings estimated at $17,195.6 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01