Solar Panels Cost 10k-21k in Washington, IN | October, 2024

Solar Panels Cost $10k-$21k in Washington, IN | October, 2024

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

For the month of October, 2024, the price per watt of solar systems in Washington, IN is $3.91/W, on average.

Utilizing the rate, we can conclude that for every 1 kW (1000 watts) of solar power capacity will cost you $3,910 for installation. After receiving the 30% federal tax credit, you will pay around $13,685, in Washington, for a 5 kW solar installation. A more powerful system could be needed to adequately cover your energy consumption effectively.

By selecting your county on the left, you can find the average roof size and the average maximum capacity for residential solar panel systems in your area. Find below a detailed summary of the {price|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.
Washington: $13,685US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Washington: 11 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Washington: $4,313US Average: $15,784

Solar Potential in Washington

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

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

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

In Washington, the typical kWh usage is 878 per month, and the electric bill is $99.43. It is crucial to understand that this number encompasses the energy consumption of apartments and smaller homes.

The average rate for electricity in Washington, IN during October, 2024 is 11.32¢ per kWh.

To meet their entire power requirements of a typical user in Washington, a solar system of 8 kW or more is required. The expense for aan 8 kW solar installation is approximately $31,280 upfront, but with a 30% tax credit, the price decreases to $21,896.

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Average solar panel costs by system size in Washington

To the left, you will find a cost breakdown for different solar panel system sizes installed in Washington. The investment for a bigger solar panel setup is higher, but it also offers higher electricity savings and more substantial income tax credits.

The solar panel cost and benefit breakdown, visible in the calculator to the right and below, is based on an average electric bill of $99.43 in Washington. Easily change the $99.43 to your average electricity bill for customized results.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $651 a year
Est. Price
$10,948
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $54
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 4.89 tons a year
  • Equivalent to planting 225 trees a year
  • Equivalent to driving 12,106 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $813 a year
Est. Price
$13,685
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $68
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 6.11 tons a year
  • Equivalent to planting 281 trees a year
  • Equivalent to driving 15,132 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $976 a year
Est. Price
$16,422
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $81
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 7.34 tons a year
  • Equivalent to planting 337 trees a year
  • Equivalent to driving 18,159 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,139 a year
Est. Price
$19,159
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $95
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 8.56 tons a year
  • Equivalent to planting 393 trees a year
  • Equivalent to driving 21,185 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,302 a year
Est. Price
$21,896
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $99
  • Full payback in 18 years
Environmental Impacts
  • Reduces CO2 emissions by 8.93 tons a year
  • Equivalent to planting 410 trees a year
  • Equivalent to driving 22,100 mi less a year

Washington 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 photovoltaic or wind energy systems. If you think you might qualify, we suggest trying our REAP Grant eligibility tool to confirm.

Nearly all residents are eligible for the 30% federal income tax credit for residential solar, making it a practical option in numerous states across the country. Furthermore, many regional and state programs are set up to get more people to adopt solar power.

Different utilities and governmental organizations in Indiana offer 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?

For homeowners in Washington planning to stay beyond the payback period of their solar system, solar panels are the obvious choice. In Washington, IN, the installation of a 5 kW solar system can save you an average of $10,178.2 over 20 years, with an average break even point of 11 years.

The cost of not having solar panels in Washington, IN

Forgoing solar panels or an alternative backup energy source results in you'll miss out on the savings mentioned before and be fully dependent on your electric utility for power. Complete dependence on your utility company isn't always the best condition, as recent media examples have revealed.

On a yearly basis, the average number of outages per customer in Daviess County has been 1.79. Typically, outages have an average duration of 216.64 minutes. However, during significant events such as earthquakes, aging infrastructure, or planned maintenance, these times can drastically increase.

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

Power Outages

Currently, 0 customers are being tracked in Daviess County.

Learn more

Customers Out:

0

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

Your Energy Needs - Despite the greater initial expense, the cost per watt declines when using larger solar panel systems. Many consumers realize it's a great idea to set up a solar system that can produce enough power to fully cover their electric bill, because it helps them save more money.

Make & Model - Just like other products, solar panels and mounting equipment are offered in a range of makes and models. The potential brand preferences of your installer mean that it is it is even more vital to choose a reputable company. Higher grade materials typically result in an better long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels have become the industry standard, and it's not hard to see why. They come with a higher price but are better at generating energy. The majority of solar panel installers use panels made of this type of material.

Your Property - Each property and home has its own unique features. Trees, irregular terrain, or additional challenges may add to the difficulty of the installation. Using satellite imagery, solar installers can today assess your home and include these elements into the first cost estimate.

Labor Rates - Companies pay varying pay rates to their employees, which are then passed on to the prices consumers pay. Higher wages frequently lead to businesses getting better reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which change by area, will impact your installation cost. Reputable local installers will include these figures in your first estimates to ensure transparency.

See what solar panels cost in other IN cities

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Who are the best solar installers in Washington?

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

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

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

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

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

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

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.

Washington, IN Solar Panel Cost FAQs

  • The average solar panel cost in Washington, IN as of October, 2024 is estimated at $3.91/W. Post federal tax credit, a 5 kW solar panel system installation in Washington, IN will roughly cost $13,685.

  • Right now, Indiana has 4 rebates and incentives available through a variety of utility companies and government entities. Also, nearly everyone can take advantage of the 30% federal tax credit.

  • Although cash payments provide the greatest savings, several financing options for solar panels now exist that are also cost-effective. Financing options are often provided by installers and may be included in your initial quotes.

  • Yes, the typical payback time for 5 kW solar panel systems in Washington, IN is 11 years, and the expected electricity cost savings over 20 years is $10,178.2.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01