Solar Panels Cost 14k-25k in Shelbyville, IN | October, 2024

Solar Panels Cost $14k-$25k in Shelbyville, IN | October, 2024

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

Going solar in the month of October, 2024 in Shelbyville, IN costs $4.11/W.

Expect costs to be $4,110, on average, for every 1000 watts (or 1 kW) of solar energy your solar panels will need to generate. We are able to come to this conclusion by using the rate price cost. In Shelbyville, the cost of a 5 kW system is generally $14,385, after a 30% federal tax credit. A more powerful system could be needed to ensure your energy requirements are met.

To the left, you have the option to select your county and see the typical roof size along with the average maximum capacity for residential solar in homes in your area. Below is a detailed summary of 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.
Shelbyville: $14,385US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Shelbyville: 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.
Shelbyville: $11,480US Average: $15,784

Solar Potential in Shelbyville

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

Roof size 858sq. ft.
Capacity 12kW DC
Electricity 13.7kkWh AC per yr.

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

The typical energy consumer in Shelbyville has a monthly electric bill of $133.46 and uses 997 kWh on average. Compact apartments are also encompassed in the numbers noted in the prior sentence. The lower energy use in these types of dwellings impacts those averages.

As of October 2024, the average rate for electricity per kWh in Shelbyville, IN is 13.39¢.

In Shelbyville, average users has to have a system size of 9 kW or greater to fully take care of all of their energy usage requirements. Before incentives, a 9 kW solar system is around $36,990, with the federal tax credit returning 30% of your investment amount, reducing the price to $25,893.

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Average solar panel costs by system size in Shelbyville

To the left and below, you can find a detailed pricing breakdown for various solar panel system sizes installed in Shelbyville. While a larger solar installation does come with a higher price tag, it also offers increased electricity savings and larger income tax credits.

Check a cost benefit analysis in the solar panel cost calculator down and to the right, for an average electric bill of $133.46 in Shelbyville. Modify the $133.46 to your usual electricity bill payment for customized results.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $961 a year
Est. Price
$14,385
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
$17,262
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
$20,139
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
$23,016
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $128
  • Full payback in 14 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
$25,893
Savings from a 9kWthis system
  • Est. yearly production 13,311 kWh
  • Est. monthly savings $133
  • Full payback in 16 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

Shelbyville 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 solar or wind energy systems. Curious if you fit this category? Confirm your eligibility with our REAP Grant eligibility tool.

Nearly all residents are eligible for the 30% federal income tax credit for residential solar, which makes it a practical option in many states in the country. In addition to the federal incentives, state and local programs also aim to boost solar energy uptake.

Indiana provides 4 solar rebates and incentives from multiple 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?

If you foresee living in your home longer than the solar system's payback period, installing solar panels is an smart decision in Shelbyville. By installing a 5 kW solar system in Shelbyville, IN, you can expect to save approximately $17,645.4 over 20 years, with the break even point typically being 9 years.

The cost of not having solar panels in Shelbyville, IN

Failing to have solar panels or an alternative backup energy results in missing the savings mentioned earlier and being completely reliant on your electric utility for electricity. Numerous recent examples in the news have highlighted that complete reliance on your utility company is not always the best option.

In recent times, utilities in Shelbyville have recorded an average of 1.11 outages per customer annually. Typically, outages have an average duration of 144.96 minutes. However, during significant events such as thunderstorms, wildlife damage, or grid management errors, these times can drastically increase.

A solar panel system, whether or not it has a backup battery, could reduce the impact of future outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Shelby County.

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Customers Out:

0

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

Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is lowered as the system size grows. For most homeowners, setting up a system that can generate enough power to eliminate their entire electric bill is useful, providing significant savings.

Make & Model - Solar panels, like many other products, are available in various makes and models. Your contractor’s potential brand preferences make it crucial to choose a reputable contractor. For buyers desiring a more favorable long-term experience, investing in superior quality makes and models is critical.

Solar Panel Type - The standard in the industry is now monocrystalline panels, and justifiably so. These panels have a higher cost but yield more energy. The majority of installers in the industry work with panels constructed of this material.

Your Property - Trees, uneven landscapes, or other obstacles can increase the complexity of the installation. These days, solar installers can leverage satellite images to assess your home and factor in these factors into the first cost estimate.

Labor Rates - Companies compensate their employees in varying amounts, and these costs are borne by consumers. Companies that invest in higher wages often see higher reviews for their work and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which vary by region, will influence your final installation cost. Reliable local installers will build these figures into your preliminary estimates to prevent any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Shelbyville?

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.

Shelbyville, IN Solar Panel Cost FAQs

  • The cost per watt for solar panels in Shelbyville, IN during October of 2024 averages $4.11/W. After federal tax credits, the installation of a 5 kW solar panel system in Shelbyville, IN is estimated to cost $14,385.

  • Currently, Indiana residents can benefit from 4 rebates and incentives available through various utilities and government bodies. On top of that, nearly everyone can qualify for the 30% federal tax credit.

  • Even though cash payments yield the greatest savings, several financing options for solar panels today are also financially beneficial. Information about financing options is typically included in initial quotes provided by installers.

  • Yes, in Shelbyville, IN, 5 kW solar panel systems typically pay off in 9 years, and users save around $17,645.4 in electricity costs over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01