Solar Panels Cost 5.6k-17k in Warsaw, IN | October, 2024

Solar Panels Cost $5.6k-$17k in Warsaw, IN | October, 2024

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

The current cost per watt for solar panel installations in Warsaw, IN in October, 2024 is $4.06/W.

In accordance with the price, we are able to come to the conclusion that for every 1 kW (1000 watts) of solar generation capacity will require an investment of $4,060 for installation. A 5 kW solar panel install in Warsaw averages approximately $14,210 after accounting for the 30% federal income tax credit. It's vital to consider that a more powerful system might be essential to meet your energy demands.

Choose your county from the menu on the left to see the average roof size and maximum solar panel system capacity for homes in your area. Additionally, you can also see an overview of the costs, payback period and 20 year average savings for a 5 kW system installed in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Warsaw: $14,210US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Warsaw: 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.
Warsaw: $7,898US Average: $15,784

Solar Potential in Warsaw

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

Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.

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

Energy consumers in Warsaw usually pay $117.49 per month for electricity, consuming an typical of 687 kWh. These numbers also cover apartments and smaller dwellings with less energy demand.

Warsaw, IN's electricity rate averages 17.11¢ per kWh in October 2024.

If your household uses a typical amount of electricity in Warsaw, you will need a solar panel system of 6 kW or larger to fully account for your full energy usage needs. The price of a a 6 kW solar panel system is approximately $24,360 upfront, but the federal tax credit provides a 30% credit, bringing the price down to $17,052.

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Average solar panel costs by system size in Warsaw

To your left, there is a detailed cost breakdown for the various solar panel system sizes set up in Warsaw. When you choose a larger solar system, the cost is larger, but it also yields higher electricity savings and a more substantial income tax credit.

The cost and benefit breakdown for solar panels, presented in the calculator down and to the right, is based on an average electric bill of $117.49 in Warsaw. Swap the $117.49 with your average electricity bill for custom results.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $503 a year
Est. Price
$5,684
Savings from a 2kWthis system
  • Est. yearly production 2,958 kWh
  • Est. monthly savings $42
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 3.27 tons a year
  • Equivalent to planting 150 trees a year
  • Equivalent to driving 8,106 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $754 a year
Est. Price
$8,526
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $63
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 4.91 tons a year
  • Equivalent to planting 226 trees a year
  • Equivalent to driving 12,158 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,006 a year
Est. Price
$11,368
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $84
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 6.55 tons a year
  • Equivalent to planting 301 trees a year
  • Equivalent to driving 16,211 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,257 a year
Est. Price
$14,210
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $105
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 8.19 tons a year
  • Equivalent to planting 376 trees a year
  • Equivalent to driving 20,264 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,509 a year
Est. Price
$17,052
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $117
  • 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

Warsaw Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can potentially cover between 80% and 100% of the installation costs for solar or wind turbines for rural small businesses and farms. Curious if you qualify? Our REAP Grant eligibility tool can help you verify.

Homeowners can take advantage of a 30% federal income tax credit for installing residential solar panels, making solar power a sensible option across much of the country. Moreover, a number of state and local programs are available to incentivize solar adoption.

Multiple utilities and government organizations in Indiana have 4 solar rebate and incentive programs.

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 your goal is to maintain your home well past the payback period of your solar system, solar panels are an clear choice in Warsaw. A 5 kW system in Warsaw, IN will save the average homeowner, on average, $13,987.6 over a 20 period and the average break even point is 10 years.

The cost of not having solar panels in Warsaw, IN

Apart from missing out on the aforementioned savings, not installing solar panels or any backup energy system leaves you totally reliant on your electric utility for power. Recent news coverage has demonstrated that full reliance on your utility company isn't always the most favorable scenario.

Every year, customers in Warsaw face approximately 1.04 outages each year. On average, each outage lasts for 132.53 minutes. Major events like heavy rain and flooding, construction accidents, or overloaded power grids can considerably extend these durations.

Whether or not a backup battery is included, a solar panel system could reduce the impact of future power outages you might encounter.

Power Outages

Currently, 0 customers are being tracked in Kosciusko County.

Learn more

Customers Out:

0

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

Your Energy Needs - While the upfront cost is larger, the price per watt declines with larger solar panel systems. Individuals often find that installing a solar system that can offset their electric bill is highly beneficial. This strategy results in increased savings.

Make & Model - As with many other products, there are different makes and models of solar panels and mounting equipment available. The brand preferences of your selected installer can make it important to pick a reputable installer. Buyers who opt for better materials generally enjoy a superior long-term experience.

Solar Panel Type - Monocrystalline panels have emerged as the industry standard, and deservedly so. Even though they are more expensive, they produce more energy. The majority of installers utilize panels constructed from this material.

Your Property - Trees, uneven land, or other obstacles can make the installation process more challenging. With the use of satellite images, many solar installers currently can evaluate your home and include these elements into the initial cost estimate.

Labor Rates - Variations in employee wages across companies cause expenses that are passed on to the consumers. Companies that invest in higher wages often see higher reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which differ by region, will influence your final installation cost. That said, reputable local installers will be able to build these numbers into your first quotes so there are no surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Warsaw?

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.

Warsaw, IN Solar Panel Cost FAQs

  • The average solar panel cost in Warsaw, IN as of October, 2024 is estimated at $4.06/W. With the federal tax credit, the cost of a 5 kW solar panel system in Warsaw, IN drops to roughly $14,210.

  • Residents of Indiana can currently take advantage of 4 rebates and incentives offered by various utilities and government bodies. Also, nearly everyone can take advantage of the 30% federal tax credit.

  • While paying cash provides the most savings, various financing options for solar panels exist that also are financially sensible. Financing options from installers will often be detailed in your initial quotes.

  • Yes, in Warsaw, IN, the average time for 5 kW solar panel systems to pay for themselves is 10 years, leading to electricity savings of $13,987.6 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01