Solar Panels Cost 13k-24k in Plainfield, IN | November, 2024

Solar Panels Cost $13k-$24k in Plainfield, IN | November, 2024

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

Going solar costs, on average, $3.93 per watt in the month of November, 2024 in Plainfield, IN.

It will cost you $3,930, on average, for every 1000 watts (1 kW) of capacity that your solar panels have. After receiving the 30% federal tax credit, you can expect to spend around $13,755, in Plainfield, for a 5 kW panel install. It's important to realize that a bigger system might be needed to cover your energy consumption.

On the left-hand side, pick your county to access information on the average roof size and the average maximum capacity for solar panel systems on homes within your area. Displayed below is a summary of 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.
Plainfield: $13,755US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Plainfield: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Plainfield: $13,900US Average: $16,169

Solar Potential in Plainfield

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

Roof size 894sq. ft.
Capacity 12.5kW DC
Electricity 14.5kkWh AC per yr.

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

For Plainfield energy consumers, the standard monthly kWh usage is 1,042, with an average electric bill of $139.79. Be mindful that this figure includes data from apartments and other smaller homes with reduced energy consumption.

The electricity rate per kWh in Plainfield, IN for November 2024 averages 13.41¢.

If you’re an average energy user in Plainfield you must have a 9 kW or larger sized system to cover your entire energy demands. Currently, a 9 kW solar panel installation will cost you roughly $35,370at first, but thanks to the 30% federal tax credit, you receive 30% back, bringing the cost down to $24,759.

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Average solar panel costs by system size in Plainfield

To the left side and below, there is the cost summary for multiple sizes of solar panel systems set up in Plainfield. As expected, with a bigger solar system, there will be a higher upfront cost, but the benefits include more electricity savings and greater income tax credits.

Using the solar panel cost calculator situated down and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $139.79 in Plainfield. Swap the $139.79 with your average electricity bill to get more accurate results.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $961 a year
Est. Price
$13,755
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $80
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 5.29 tons a year
  • Equivalent to planting 243 trees a year
  • Equivalent to driving 13,083 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,154 a year
Est. Price
$16,506
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $96
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 6.34 tons a year
  • Equivalent to planting 291 trees a year
  • Equivalent to driving 15,700 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,346 a year
Est. Price
$19,257
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $112
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 7.4 tons a year
  • Equivalent to planting 340 trees a year
  • Equivalent to driving 18,317 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,538 a year
Est. Price
$22,008
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $128
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 8.46 tons a year
  • Equivalent to planting 388 trees a year
  • Equivalent to driving 20,933 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,730 a year
Est. Price
$24,759
Savings from a 9kWthis system
  • Est. yearly production 13,311 kWh
  • Est. monthly savings $140
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 9.24 tons a year
  • Equivalent to planting 424 trees a year
  • Equivalent to driving 22,864 mi less a year

Plainfield Solar Panel Installation Incentives & Rebates | 2024

If you're a rural small business or farm owner, you might be eligible for REAP Grant coverage of between 80% and 100% for your photovoltaic or wind turbine project. If you think you might be in this category, we suggest checking your qualification with our REAP Grant eligibility tool.

For those considering residential solar options, a 30% federal income tax credit is broadly available, increasing the appeal and practicality of solar energy in various areas in the nation. Together with federal efforts, state and local programs help to support the use of solar power.

A total of 4 solar incentive and rebate initiatives are available in Indiana from different 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?

If you plan to own your residence longer than the solar system's payback period, solar panels are a wise investment in Plainfield. Installing a 5 kW solar system in Plainfield, IN will, on average, save you $19,794.6 over 20 years, and you can expect to break even in about 8 years.

The cost of not having solar panels in Plainfield, IN

Not installing solar panels or any other backup energy system leads to missing the earlier mentioned savings and full dependence on your electric utility for electricity. As recent examples in the news have shown, total dependence on your utility provider isn't always the best idea.

In recent years, utilities in Plainfield have had an average of 0.93 outages per customer annually. Usually, outages have an average duration of 92.81 minutes. However, during critical events like hurricanes, aging infrastructure, or wildlife damage, these times can extend dramatically.

Regardless of whether featuring a backup battery or not, a solar panel system can alleviate the strain of possible future outages.

Power Outages

Currently, 0 customers are being tracked in Hendricks County.

Learn more

Customers Out:

0

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

Your Energy Needs - Larger solar panel systems have a larger initial cost, yet the average cost per watt falls as the system size expands. Most consumers see the benefit in installing a solar setup that can produce enough power to replace their entire electric bill, ensuring significant savings.

Make & Model - Solar panels and mounting equipment, like many other products, are available in a variety of makes and models. Given the certain system preferences an contractor might have, choosing a reputable contractor is crucial. The utilization of better equipment is likely to yield a more satisfactory long-term experience for buyers.

Solar Panel Type - It's no surprise that monocrystalline panels are now the standard in the industry. These panels cost more but produce more energy. Most installers in the industry work with panels crafted from this material.

Your Property - No two properties or homes are identical. Trees, rough terrain, or other challenges can increase the difficulty of the installation. Nowadays, the majority of solar installers can evaluate your home with satellite images and include these factors in the preliminary cost estimate.

Labor Rates - Various wages are paid to employees by various companies, and these expenses are passed on to the consumers. Companies often get higher reviews for their services and customer service when they pay higher wages.

Permitting & Interconnection - Your final installation price will be impacted by the permitting and utility interconnection fees, which change by area. Reputable local installers will integrate these numbers into your initial quotes to prevent any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Plainfield?

YellowLite

Cleveland, OH(216) 333-1364

Services

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

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Auditing of energy requirements for independent energy generation.
  • Reparation of solar arrays.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

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

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Silver Sun Solar

Deltona, FL(407) 832-42452

Services

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

Harvest Solar

Jackson, MI(888) 907-6527

Services

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

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • 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

  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

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

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Expertise in consulting on advantageous financing for solar.
  • Auditing of energy requirements for independent energy generation.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

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

Icon Solar

Milford, OH(513) 396-7777

Services

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

Plainfield, IN Solar Panel Cost FAQs

  • As of November, 2024, the average solar panel installation cost in Plainfield, IN has reached $3.93/W. Post federal tax credit, a 5 kW solar panel system installation in Plainfield, IN will roughly cost $13,755.
  • Indiana offers 4 different rebates and incentives from a range of utilities and government organizations. Furthermore, the majority of people qualify for the 30% federal tax credit.
  • Paying cash provides the most savings, yet there are several financing options available today for solar panels that are also financially sensible. Financing details are often provided by installers and may be included in your initial quotes.
  • Yes, solar panels systems of 5 kW in Plainfield, IN typically have a payback period of 8years, with expected savings on electricity costs of $19,794.6 over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-11-04