Solar Panels Cost 14k-26k in North Vernon, IN | October, 2024

Solar Panels Cost $14k-$26k in North Vernon, IN | October, 2024

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How much do solar panels cost in North Vernon, IN in 2024?

In North Vernon, IN in October, 2024, the current cost per watt of solar panel systems is estimated at $4.23/W

According to this cost, you should expect to pony up $4,230, on average, for every 1 kW (or 1000 watts) of solar energy your system will need to generate. On average, the expense for a 5 kW solar setup in North Vernon, after a 30% federal tax credit, is $14,805. A bigger system could be necessary to satisfy your energy requirements.

Select your county from the menu on the left to find the typical roof size and maximum solar panel capacity for homes in your area. The following summary, below, highlights the costs, 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.
North Vernon: $14,805US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
North Vernon: 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.
North Vernon: $10,885US Average: $15,784

Solar Potential in North Vernon

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

Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.

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

The typical kWh usage for a North Vernon resident is 1,003 monthly, with an average electric bill of $133.48. This number also includes data from apartments and smaller residences, which generally use reduced energy requirements.

In October 2024, the mean electricity rate in North Vernon, IN amounts to 13.31¢ per kWh.

In North Vernon, an average electricity consumer's electricity needs can be fully accounted for by a solar system of 9 kW or higher. Upfront, a 9 kWsolar installation is priced at about $38,070, with the 30% tax credit, this drops to $26,649.

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Average solar panel costs by system size in North Vernon

Displayed below and to the left is the price structure for various sizes of the solar panel systems in North Vernon. The larger the solar array, the larger the initial expense, but also the greater electricity savings and income tax credits you'll get.

The cost and benefit breakdown for solar panels, displayed in the calculator down and to the right, is based on an average electric bill of $133.48 in North Vernon. Simply change the $133.48 to your average electricity bill for more accurate results.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $961 a year
Est. Price
$14,805
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $80
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 5.51 tons a year
  • Equivalent to planting 253 trees a year
  • Equivalent to driving 13,632 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,154 a year
Est. Price
$17,766
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $96
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 6.61 tons a year
  • Equivalent to planting 304 trees a year
  • Equivalent to driving 16,358 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,346 a year
Est. Price
$20,727
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $112
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 7.71 tons a year
  • Equivalent to planting 354 trees a year
  • Equivalent to driving 19,084 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,538 a year
Est. Price
$23,688
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $128
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 8.81 tons a year
  • Equivalent to planting 405 trees a year
  • Equivalent to driving 21,811 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,730 a year
Est. Price
$26,649
Savings from a 9kWthis system
  • Est. yearly production 13,311 kWh
  • Est. monthly savings $133
  • Full payback in 17 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

North Vernon 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 or wind energy systems. Unsure if you're eligible? Check your status with our REAP Grant eligibility tool.

A 30% federal tax credit is accessible to most homeowners for residential solar installations, which renders solar energy a feasible choice in various regions across the United States. Apart from the federal incentives, state and local programs also aim to boost solar energy uptake.

Indiana provides 4 solar rebates and incentives from different utility companies and government departments.

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 expecting to live in your home past the solar system's payback period, solar panels are a wise decision in North Vernon. Over a 20 year period, a 5 kW solar system in North Vernon, IN could save you approximately $17,230.2, with the average break even time being 9 years.

The cost of not having solar panels in North Vernon, IN

Failing to have solar panels or an alternative backup energy means missing the savings mentioned earlier and being entirely reliant on your electric utility for electricity. As recent news articles have highlighted, full dependence on your utility provider isn't always ideal.

The average number of outages per customer per year for utilities in North Vernon has been 1.53 in recent years. On average, an outage lasts 210.87 minutes. When major events such as wildfires, vandalism, or aging infrastructure occur, these durations can increase significantly

A solar energy system could mitigate the effects of future outages, whether or not it has a backup battery.

Power Outages

Currently, 0 customers are being tracked in Jennings County.

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Customers Out:

0

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What impacts the cost of solar panels in North Vernon, IN?

Your Energy Needs - Larger solar panel systems come with a larger upfront cost, but the price per watt is reduced. Homeowners often discover that installing a solar system that can offset their entire electric bill is advantageous, ensuring optimal savings.

Make & Model - There are many brands and models of solar panels. Because the installer you select might have specific brand preferences, picking a highly rated company is especially important. The utilization of high-quality materials is likely to result in a more positive long-term experience for buyers.

Solar Panel Type - It's understandable that monocrystalline panels are now the industry standard. They are pricier but generate more energy. Most professionals in solar installation work with panels constructed from this material.

Your Property - Trees, uneven ground, or additional considerations can increase the complexity of the installation. Most solar installers today use satellite imagery to evaluate your home and integrate these elements into the preliminary cost estimate.

Labor Rates - Different companies offer varying wages to their employees, and these costs are inevitably borne by the consumers. Businesses that invest in higher wages often see higher reviews for their work and customer service.

Permitting & Interconnection - Depending on the area, local permitting and utility interconnection fees will affect the cost of your installation. Quality local installers will include these figures in your preliminary estimates to provide transparency.

See what solar panels cost in other IN cities

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Who are the best solar installers in North Vernon?

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

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

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

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

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

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

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.

North Vernon, IN Solar Panel Cost FAQs

  • In October, 2024, the average cost of solar panels per watt in North Vernon, IN is $4.23/W. The approximate cost of a 5 kW solar panel system in North Vernon, IN, after deducting federal tax credits, is $14,805.

  • Currently, Indiana residents can benefit from 4 rebates and incentives available through various utilities and government bodies. On top of that, most individuals are eligible for the 30% federal income tax credit.

  • Cash payments yield the highest savings, yet several financing options now available for solar panels are advantageous as well. Installers often have partnerships with financing companies and will include this information in your initial quotes.

  • Yes, on average, the return on investment for 5 kW solar panel systems in North Vernon, IN is achieved in 9 years, with electricity savings amounting to $17,230.2 over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01