Solar Panels Cost 5.8k-17k in Portage, IN | October, 2024

Solar Panels Cost $5.8k-$17k in Portage, IN | October, 2024

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

To go solar in Portage, IN in the month of October, 2024 averages out to $4.17/W.

You should expect the price to be $4,170, on average, for every 1 kW (or 1000 watts) of solar energy your solar system can produce. In Portage, when you subtract the 30% federal income tax credit, a 5 kW solar installation sets you back $14,595. A 5kW system might not be sufficient to fully meet your energy demands.

Use the left-hand menu to select your area and find the typical roof size and the maximum capacity for solar panel systems on homes in your county. Below, you can see an outline of the 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.
Portage: $14,595US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Portage: 10 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Portage: $7,782US Average: $15,784

Solar Potential in Portage

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

Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.5kkWh AC per yr.

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

Portage energy consumers typically use 654 kWh monthly, with an average monthly bill of $119.30. Flats and other smaller housing units with reduced energy requirements are included in this statistic.

The average electricity rate in Portage, IN in October 2024 is 18.25¢ per kWh.

In Portage, a system size of 6 kW or higher is a must for the typical energy user to cover their entire electricity consumption needs. Currently, a 6 kW setup is priced at around $17,514 after incentives.

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Average solar panel costs by system size in Portage

Presented on the left and below is the price breakdown for different sizes of the solar panel systems installed in Portage. Of course, with a bigger solar system, you'll see a higher upfront cost, but the advantages are more electricity savings and larger income tax credits.

In the calculator located below and to the right, you will find a breakdown of solar panel costs and benefits, calculated with an average $119.30 electric bill for Portage. Swap the $119.30 with your usual electricity bill to get more accurate results.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $532 a year
Est. Price
$5,838
Savings from a 2kWthis system
  • Est. yearly production 2,958 kWh
  • Est. monthly savings $44
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 3.41 tons a year
  • Equivalent to planting 157 trees a year
  • Equivalent to driving 8,438 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $799 a year
Est. Price
$8,757
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $67
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 5.11 tons a year
  • Equivalent to planting 235 trees a year
  • Equivalent to driving 12,657 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,065 a year
Est. Price
$11,676
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $89
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 6.82 tons a year
  • Equivalent to planting 313 trees a year
  • Equivalent to driving 16,876 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,331 a year
Est. Price
$14,595
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $111
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 8.52 tons a year
  • Equivalent to planting 391 trees a year
  • Equivalent to driving 21,095 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,597 a year
Est. Price
$17,514
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $119
  • Full payback in 12 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

Portage Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant offers substantial financial support, potentially covering 80% to 100% of the costs for rural businesses and farmlands to install solar or wind energy systems. Curious about your eligibility? Use our REAP Grant eligibility tool to find out.

For those looking into residential solar, the 30% federal income tax credit is accessible to most people, making solar a sensible option in numerous states. Besides the federal incentives, state and local programs also seek to boost solar energy uptake.

A total of 4 solar rebates and incentives are available in Indiana through different utility companies and government organizations.

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?

For those in Portage looking to stay in their homes past the payback period of their solar system, solar panels make perfect sense. With a 5 kW solar system in Portage, IN, the average savings over a 20 period is $14,037, with break even usually occurring at 10 years.

The cost of not having solar panels in Portage, IN

Beyond forgoing the savings, the absence of solar panels or another backup energy source results in full dependence on your electric utility for your power needs. As shown by recent news stories, complete dependence on your utility company isn't always ideal.

On average, customers in Portage have faced 0.95 utility outages per year over the past few years. Typically, outages have an average duration of 143 minutes. However, during significant events such as thunderstorms, vandalism, or aging infrastructure, these times can drastically increase.

Whether or not a backup battery is present, a solar panel system could help ease the impact of future power outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Porter County.

Learn more

Customers Out:

0

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

Your Energy Needs - The upfront cost for larger solar panel systems is higher, but the cost per watt decreases as the system size grows. Setting up a solar system that makes sufficient electricity to eliminate their electric bill is beneficial to most individuals, ensuring savings.

Make & Model - There are a variety of makes and models of solar panels. The potential system preferences of your installer mean that it is it's even more necessary to choose a reputable contractor. For a more favorable long-term experience, buyers should opt for superior quality equipment.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They have a higher price, but they produce more energy. Most solar panel installers choose this type of material.

Your Property - Each property and home is one of a kind. Uneven ground, trees, or other hindrances can increase the difficulty of installing solar panels. These days, most solar installers are able to utilize satellite images to evaluate your home and include these factors for the initial cost estimate.

Labor Rates - The wages that companies pay their employees differ, and these costs are inevitably reflected in consumer prices. Higher reviews for work and customer service are generally associated with businesses that pay higher wages.

Permitting & Interconnection - Local permitting and utility interconnection fees, which vary by region, will impact your final installation cost. Reputable local installers will include these figures in your initial estimates to ensure transparency.

See what solar panels cost in other IN cities

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Who are the best solar installers in Portage?

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.

Portage, IN Solar Panel Cost FAQs

  • During October, 2024, the average price for solar panel installations in Portage, IN is $4.17/W. Post federal tax credit, a 5 kW solar panel system installation in Portage, IN will roughly cost $14,595.

  • Currently, Indiana residents can benefit from 4 rebates and incentives available through various utilities and government bodies. Moreover, nearly everyone is eligible for the 30% federal income tax credit.

  • Opting to pay in cash provides the highest savings, but there are now multiple financing options for solar panels that make financial sense. Initial quotes from installers will frequently detail information about available financing options.

  • Yes, the payback period for 5 kW solar energy systems in Portage, IN averages 10 years, with electricity savings of about $14,037 over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01