Solar Panels Cost $11k-$22k in Steuben County, IN | November, 2024
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How much do solar panels cost in Steuben County, IN in 2024?
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Getting solar panels in Steuben County, IN averages out to $4.06/W in the month of November, 2024.
For every 1000 watts (1 kW) your solar system can produce, you will need to invest, on average, $4,060 for its installation. You are able to come to this conclusion by using this rate price cost per watt. Taking into consideration the 30% federal tax credit, a 5 kW system in Steuben County typically costs $14,210. Be advised that a bigger system may be essential to fully meet your energy needs.
On the left, choose a county to view the average roof size and the maximum production capacity for solar panels on houses in your area. Below, you'll see a full overview 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.
Steuben County: $14,210US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Steuben County: 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.
Steuben County: $11,181US Average: $16,169
Solar Potential in Steuben County
Estimated system size and solar electricity production per median viable roof in Steuben County.
Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.
Electricity Costs in Steuben County, IN & What that Means for Your Solar Panel Pricing
Energy consumers in Steuben County generally pay 131.17 per month for electricity, using an typical of 899 kWh. Smaller units, including efficiencies and condos, are also part of the numbers cited in the earlier sentence.
In November 2024, the average electricity rate in Steuben County, IN is 14.59¢ per kWh.
Before any incentives, an 8 kW solar panel installation is priced at around $32,480, after the 30% federal tax credit, the price drops to $22,736.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Steuben County
Displayed on the left and below is the cost analysis for multiple sizes of the solar panel systems set up in Steuben County. The initial cost for more extensive solar systems is larger, but they also yield greater electricity savings and larger income tax credits.
The solar panel cost calculator, situated below and to the right, offers a breakdown of costs and benefits using an average $131.17 electric bill for Steuben County. If you seek tailored results, change the $131.17 to your typical electricity bill amount.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $887 a year
Est. Price
$11,368
Savings from a 4kWthis system
Est. yearly production 5,916 kWh
Est. monthly savings $74
Full payback in 7 years
Environmental Impacts
Reduces CO2 emissions by 5.21 tons a year
Equivalent to planting 239 trees a year
Equivalent to driving 12,907 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,109 a year
Est. Price
$14,210
Savings from a 5kWthis system
Est. yearly production 7,395 kWh
Est. monthly savings $92
Full payback in 9 years
Environmental Impacts
Reduces CO2 emissions by 6.52 tons a year
Equivalent to planting 299 trees a year
Equivalent to driving 16,133 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,331 a year
Est. Price
$17,052
Savings from a 6kWthis system
Est. yearly production 8,874 kWh
Est. monthly savings $111
Full payback in 11 years
Environmental Impacts
Reduces CO2 emissions by 7.82 tons a year
Equivalent to planting 359 trees a year
Equivalent to driving 19,360 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,553 a year
Est. Price
$19,894
Savings from a 7kWthis system
Est. yearly production 10,353 kWh
Est. monthly savings $129
Full payback in 13 years
Environmental Impacts
Reduces CO2 emissions by 9.12 tons a year
Equivalent to planting 419 trees a year
Equivalent to driving 22,586 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,775 a year
Est. Price
$22,736
Savings from a 8kWthis system
Est. yearly production 11,832 kWh
Est. monthly savings $131
Full payback in 14 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
Steuben County Solar Panel Installation Incentives & Rebates | 2024
The REAP Grant can potentially cover between 80% and 100% of the installation costs for photovoltaic or wind turbines for rural small businesses and farms. If you think you might be eligible, try our REAP Grant eligibility tool to verify your qualification.
Most people are eligible for the 30% federal income tax credit for residential solar, which makes it a practical investment in various areas of the country. Furthermore, several state and local efforts are in place to further encourage the adoption of solar energy.
Indiana has 6 solar rebate and incentive initiatives available from a number of utilities and government agencies.
Solar incentives in INIncentive Description Value
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.
City of Bloomington - Sustainable Development Incentives
Value:Varies
Special administrative incentives may apply to new construction in Bloomington, IN if it meets certain green building standards. The city has established standards across four areas, including energy efficiency, landscape/water efficiency, public policy (specifically promoting alternative vehicles), and public transportation. Buildings meeting certain minimum quotas for projects in the goal areas may qualify for permit fee waivers and less strict setback requirements. Additional information is available from the Bloomington city website.
City of Indianapolis - Green Building Incentive Program
Value:Varies
Special permitting privileges may apply to new projects in Indianapolis or greater Marion County if designers adhere to certain energy efficiency standards. Qualifying structures should either use on-site solar panels/small wind equipment or be ASHRAE 90.1 certified. Appliances, lighting, and HVAC systems used should be ENERGY STAR certified. Once the builder applies for permits, the structure will be ranked across six sustainability criteria. If it passes minimum standards on at least half of the criteria, 30% of the total permit fees will be refunded. For each additional criterion, another 10% will be added to the total rebate. Additional information is available from the Indianapolis city website.
Are solar panels worth it in Steuben County, IN?
Intending to stay in your house beyond the solar payback period? Solar panels are a wise investment in Steuben County. Having a 5 kW solar system in Steuben County, IN can potentially save you roughly $17,270.8 over a span of 20 years, with an average break even point of 9 years.
The cost of not having solar panels in Steuben County, IN
In addition to missing out on the savings mentioned above, not having solar panels or an alternative backup energy source results in total reliance on your electric utility for electricity. Recent news reports have shown that complete dependence on your utility isn't always the best option.
Steuben County utilities have recorded 1.05 outages per customer per year recently. Each outage, on average, lasts for 176.59 minutes. In the case of major events like hurricanes, aging infrastructure, or wildlife damage, this period can rise substantially.
See the component below to see the number of current electricity customers without power in Steuben County.
A solar energy system, regardless of whether it has a backup battery or not, can relieve the strain of future power outages you may encounter.
Power Outages
Currently, 0 customers are being tracked in Steuben County.
What impacts the cost of solar panels in Steuben County, IN?
Your Energy Needs - Larger solar panel setups come with a larger price tag, yet the cost per watt decreases as the size of the system expands. It is often advantageous for consumers to install a solar system that can produce enough electricity to fully cover their electric bill, which leads to significant savings.
Make & Model - Just like other products, solar panels and mounting equipment come in a variety of makes and models. Because the installer you select might have specific brand preferences, picking a recommended company is especially important. Investing in superior quality materials can result in a much better long-term experience for the buyer.
Solar Panel Type - It's understandable that monocrystalline panels are now the industry standard. These panels are more expensive, yet they generate more energy. Most installers often utilize panels crafted from this material.
Your Property - Every home and property is unique. Sloping terrain, trees, or v can increase the complexity of the installation. These days, most solar installers can assess your home using satellite images and include these considerations for the preliminary cost estimate.
Labor Rates - The wages that companies offer their employees differ, and these costs are ultimately shown in consumer prices. Reviews for services and customer service are often higher for businesses that pay higher wages.
Permitting & Interconnection - The cost of installation will be influenced by varying local permitting and utility interconnection fees. Reputable local installers will incorporate these numbers into your initial quotes to prevent any surprises.
See what solar panels cost in other Steuben County cities
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Steuben County, IN Solar Panel Cost FAQs
The typical cost per watt for solar panels in Steuben County, IN as of November, 2024 is $4.06/W. With the federal tax credit, the cost of a 5 kW solar panel system in Steuben County, IN drops to roughly $14,210.
In Indiana, you have access to 6 rebates and incentives provided by numerous utilities and government organizations. In addition, the 30% federal income tax credit is available to almost everyone.
Even though cash payments offer the greatest savings, numerous financing options for solar panels today are also advantageous. Installers often have partnerships with financing companies and will provide this information in your initial quotes.
Yes, the average time to recoup the cost of 5 kW solar panels in Steuben County, IN is 9 years, with homeowners saving an average of $17,270.8 on electricity over 20 years.
Savings from 
Environmental Impacts 
