Solar Panels Cost $13k-$24k in Vermillion County, IN | December, 2024
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How much do solar panels cost in Vermillion County, IN in 2024?
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In Vermillion County, IN, the cost per watt of solar systems averages $3.93 per watt in December, 2024.
It will cost you $3,930, on average, per 1000 watts (1 kW) your solar system is able to generate. After receiving the 30% federal tax credit, a 5 kW panel install in Vermillion County will cost approximately $13,755. It's important to note that a more powerful system could be needed to cover your energy consumption.
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. See below a full outline of the {price|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.
Vermillion County: $13,755US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Vermillion 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.
Vermillion County: $13,820US Average: $16,152
Solar Potential in Vermillion County
Estimated system size and solar electricity production per median viable roof in Vermillion County.
Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.
Electricity Costs in Vermillion County, IN & What that Means for Your Solar Panel Pricing
The average electricity bill for a Vermillion County resident is 139.46, with a monthly consumption of 1,037 kWh. Petite homes, such as bungalows and apartments, are also encompassed by the figures mentioned in the former sentence.
For December 2024, the mean electricity rate in Vermillion County, IN is 13.45¢ per kWh.
Currently, a 9 kW solar setup will cost you roughly $35,370at first, but thanks to the federal tax credit, you receive 30% back, bringing the cost down to $24,759.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Vermillion County
Shown on the left, you will find a price breakdown for multiple solar panel system sizes set up in Vermillion County. Naturally, with a more extensive solar system, there will be a greater initial expense, but the advantages include more electricity savings and larger income tax credits.
In the calculator provided to the right and below, you will find a breakdown of solar panel costs and benefits, calculated with an average $139.46 electric bill for Vermillion County. To get results more personalized, adjust the $139.46 to align with your typical electricity bill.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
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 7.51 tons a year
Equivalent to planting 345 trees a year
Equivalent to driving 18,580 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 9.01 tons a year
Equivalent to planting 414 trees a year
Equivalent to driving 22,296 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 12 years
Environmental Impacts
Reduces CO2 emissions by 10.51 tons a year
Equivalent to planting 483 trees a year
Equivalent to driving 26,012 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 12.01 tons a year
Equivalent to planting 552 trees a year
Equivalent to driving 29,728 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 $139
Full payback in 15 years
Environmental Impacts
Reduces CO2 emissions by 13.02 tons a year
Equivalent to planting 598 trees a year
Equivalent to driving 32,238 mi less a year
Vermillion County Solar Panel Installation Incentives & Rebates | 2024
For rural small businesses and farms, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Curious if you fall into this category? Check your eligibility with our REAP Grant eligibility tool.
Most residents can qualify for a 30% federal income tax credit for residential solar, making it a feasible option in numerous areas of the United States. A variety of regional and state programs exist to encourage solar energy adoption.
In Indiana, different utilities and government organizations offer 6 solar rebate and incentive initiatives.
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 Vermillion County, IN?
If you're planning to stay in your home past the period required to pay back your solar investment, installing solar panels is a smart decision in Vermillion County. Installing a 5 kW solar system in Vermillion County, IN will, on average, save you $19,715.4 over 20 years, and you can expect to break even in about 8 years.
The cost of not having solar panels in Vermillion County, IN
Beyond missing out on the savings noted above, the absence of solar panels or another backup energy solution leads to total dependency on your electric utility for power. As illustrated by recent news, total dependence on your utility is not always the best option.
Over the last few years, the utilities in Vermillion County have had about 0.86 outages per customer each year. The typical duration of each outage is 108.07 minutes. When significant events such as lightning strikes, grid management errors, or planned maintenance occur, these time frames can become much longer.
View the graphic below to see the number of current electricity customers without power in Vermillion County.
Whether a backup battery is included or not, a solar panel system could ease the pressure of possible future outages.
Power Outages
Currently, 0 customers are being tracked in Vermillion County.
What impacts the cost of solar panels in Vermillion County, IN?
Your Energy Needs - With larger solar panel systems, the cost per watt decreases, despite the higher upfront expense. Many people find it useful to install a solar energy system that can replace their entire electric bill. This results in greater savings.
Make & Model - There are a variety of makes and models of solar panels and mounting equipment. The contractor’s preference for system makes it important to choose a reputable contractor. Higher grade models usually provide an enhanced long-term experience for the buyer.
Solar Panel Type - Monocrystalline panels have taken over as the standard in the industry, and it's not hard to see why. These panels cost more but offer a higher energy efficiency. The majority of installers in the industry work with panels constructed of this material.
Your Property - Every property and home is distinct. Trees, rough terrain, or other challenges can make the installation more difficult. Nowadays, the majority of solar installers can leverage satellite imagery to assess your home and include these aspects into the preliminary cost estimate.
Labor Rates - The pay that various companies offer their employees differ, and these costs are borne by the consumers. Companies paying more to their employees frequently get higher reviews for their work and customer service.
Permitting & Interconnection - Local permitting and utility interconnection fees, which differ by area, will affect your installation cost. That said, experienced local installers will be able to incorporate these numbers into your initial quotes so there are no surprises.
See what solar panels cost in other Vermillion County cities
Go Solar for less than your cell phone bill.
Who are the best solar installers in Vermillion County?
Solar systems for selling electricity back to the grid.
Expertise in consulting on advantageous financing for solar.
Consulting on all things solar related.
Vermillion County, IN Solar Panel Cost FAQs
In Vermillion County, IN, the mean cost per watt for solar panels as recorded in December, 2024 is $3.93/W. Installing a 5 kW solar panel system in Vermillion County, IN will cost approximately $13,755 after applying the federal tax credit.
Residents of Indiana can currently take advantage of 6 rebates and incentives offered by various utilities and government bodies. Additionally, the vast majority qualify for the 30% federal tax credit.
Paying cash provides the highest savings, but there are now several financing options for solar panels that are also cost-effective. Many installers work with financing partners and will provide this information in your initial quotes.
Yes, on average, the return on investment for 5 kW solar panel systems in Vermillion County, IN is achieved in 8 years, with electricity savings amounting to $19,715.4 over 20 years.
Savings from 
Environmental Impacts 
