Solar Panels Cost $11k-$22k in Vanderburgh County, IN | December, 2024
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How much do solar panels cost in Vanderburgh County, IN in 2024?
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You'll spend around $4.06/W in December, 2024 in Vanderburgh County, IN to get a solar system.
So, solar panels will cost you approximately, on average, $4,060 per 1000 watts (1 kW) of generation capacounty. In Vanderburgh County, the price of a 5 kW solar system is typically $14,210, after the 30% federal tax credit. Please keep in mind that a higher capacity system might be necessary to adequately cover your energy needs.
On the left, select your area to find the typical roof size and the maximum production capacity for solar panels on homes in your county. Displayed below is an overview 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.
Vanderburgh County: $14,210US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Vanderburgh County: 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.
Vanderburgh County: $14,615US Average: $16,152
Solar Potential in Vanderburgh County
Estimated system size and solar electricity production per median viable roof in Vanderburgh County.
Roof size 697sq. ft.
Capacity 9.75kW DC
Electricity 11.2kkWh AC per yr.
Electricity Costs in Vanderburgh County, IN & What that Means for Your Solar Panel Pricing
For energy consumers in Vanderburgh County, the typical electric bill amounts to 145.48 per month, with an average usage of 874 kWh. {These figures include apartments and other smaller homes, which typically have reduced energy consumption.
For December 2024, the mean electricity rate in Vanderburgh County, IN is 16.64¢ per kWh.
Upfront, an 8 kW solar panel system will cost around $32,480, after a 30% federal tax credit, the final cost is $22,736.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Vanderburgh County
Presented below and to the left, is a detailed cost analysis for multiple solar panel system sizes installed in Vanderburgh County. Even though a bigger solar installation carries a greater cost, it also provides increased electricity savings and larger income tax credits.
The solar panel calculator, positioned to the right and below, provides a detailed cost and benefit analysis based on a typical $145.48 electric bill for Vanderburgh County. Easily replace the $145.48 with your typical electricity bill amount to see more accurate results.
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 $989 a year
Est. Price
$11,368
Savings from a 4kWthis system
Est. yearly production 5,820 kWh
Est. monthly savings $82
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 12,900 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,237 a year
Est. Price
$14,210
Savings from a 5kWthis system
Est. yearly production 7,275 kWh
Est. monthly savings $103
Full payback in 8 years
Environmental Impacts
Reduces CO2 emissions by 6.51 tons a year
Equivalent to planting 299 trees a year
Equivalent to driving 16,125 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,484 a year
Est. Price
$17,052
Savings from a 6kWthis system
Est. yearly production 8,730 kWh
Est. monthly savings $124
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 7.82 tons a year
Equivalent to planting 359 trees a year
Equivalent to driving 19,350 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,732 a year
Est. Price
$19,894
Savings from a 7kWthis system
Est. yearly production 10,186 kWh
Est. monthly savings $144
Full payback in 11 years
Environmental Impacts
Reduces CO2 emissions by 9.12 tons a year
Equivalent to planting 419 trees a year
Equivalent to driving 22,574 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,979 a year
Est. Price
$22,736
Savings from a 8kWthis system
Est. yearly production 11,641 kWh
Est. monthly savings $145
Full payback in 13 years
Environmental Impacts
Reduces CO2 emissions by 9.16 tons a year
Equivalent to planting 421 trees a year
Equivalent to driving 22,685 mi less a year
Vanderburgh County Solar Panel Installation Incentives & Rebates | 2024
Between 80% and 100% of your solar energy or wind turbine installation costs may be covered by the REAP Grant if you own a rural small business or farm. Wondering if you fit this category? Check your eligibility with our REAP Grant eligibility tool.
When it comes to residential solar, the majority of people qualify for the 30% federal income tax credit, making solar a practical option across most regions of the nation. A range of state and local incentives are in place to promote the use of solar energy.
There are 6 solar rebate and incentive programs currently available in Indiana by various 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 Vanderburgh County, IN?
For those intending to stay in their home past the solar system's payback period, solar panels are a good investment in Vanderburgh County. In Vanderburgh County, IN, the installation of a 5 kW solar system can save you an average of $20,705.2 over 20 years, with an average break even point of 8 years.
The cost of not having solar panels in Vanderburgh County, IN
Opting not to install solar panels or a separate backup energy solution results in you missing out on the savings mentioned earlier and leaves you fully reliant on your electric utility for electricity. Recent news has demonstrated that complete dependence on your utility company is not always ideal.
There are about 1.58 outages per customer annually in Vanderburgh County. Each outage, on average, lasts for 144.29 minutes. In the case of major events like equipment failure, high winds or construction accidents, this period can rise substantially.
See the info below to see the number of current electricity customers without power in Vanderburgh County.
A solar energy system could help mitigate the effects of future outages, whether or not it has a backup battery.
Power Outages
Currently, 0 customers are being tracked in Vanderburgh County.
What impacts the cost of solar panels in Vanderburgh County, IN?
Your Energy Needs - The cost per watt is lower with larger solar panel systems, even though the initial cost is higher. Consumers often realize that setting up a solar system to replace their electric bill is a beneficial decision, resulting in the most savings.
Make & Model - There are a variety of makes and models of solar panels and mounting equipment. The potential system preferences of your chosen contractor make it crucial to choose a reputable company. Buyers who choose high-quality materials generally enjoy a better long-term experience.
Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They are pricier but generate more energy. Many professionals in solar installation use panels crafted from this material.
Your Property - Uneven ground, trees, or other obstructions can make the installation process more challenging. Nowadays, the many solar installers can evaluate your home with satellite images and incorporate these factors in the first cost estimate.
Labor Rates - The different wages that companies give their employees lead to costs that are ultimately borne by consumers. Reviews for work and customer service are often higher for companies that pay higher wages.
Permitting & Interconnection - Regional differences in permitting and utility interconnection fees will influence your installation cost. Good installers will factor these costs into your initial quotes to prevent unexpected expenses.
See what solar panels cost in other Vanderburgh County cities
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Vanderburgh County, IN Solar Panel Cost FAQs
The average solar panel cost in Vanderburgh County, IN as of December, 2024 is estimated at $4.06/W. After the federal tax credit, the estimated cost for a 5 kW solar panel system in Vanderburgh County, IN is roughly $14,210.
Right now, Indiana has 6 rebates and incentives available through a variety of utility companies and government entities. In addition, nearly all people are eligible for the 30%federal tax credit.
Choosing to pay cash provides the most savings, but today there are many financing options for solar panels that are also cost-effective. Initial quotes from installers will frequently include information about available financing options.
Yes, homeowners in Vanderburgh County, IN can expect 5 kW solar panels to pay off in 8 years, with an estimated $20,705.2 in electricity savings during a 20-year span.
Savings from 
Environmental Impacts 
