Solar Panels Cost $17k-$29k in Wayne County, IN | November, 2024
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How much do solar panels cost in Wayne County, IN in 2024?
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It is around $4.2 per watt in the month of November, 2024 in Wayne County, IN to get solar installed.
Put another way, solar panels will cost you $4,200 per 1000 watts (1 kW) of production capacounty. After deducting the 30% federal tax credit, a 5 kW solar panel system in Wayne County generally costs $14,700. However, please keep in mind that a higher capacity system may be needed to adequately cover your energy needs.
Select your county from the menu on the left to find out the typical roof size and maximum solar panel capacity for homes in your area. You can review the price, 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.
Wayne County: $14,700US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Wayne County: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Wayne County: $19,786US Average: $16,169
Solar Potential in Wayne County
Estimated system size and solar electricity production per median viable roof in Wayne County.
Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.
Electricity Costs in Wayne County, IN & What that Means for Your Solar Panel Pricing
The typical monthly electric bill for Wayne County residents is 169.94, with an average usage of 1,144 kWh. Bear in mind that this figure covers smaller residences including apartments, known for less energy use.
The mean rate for electricity in Wayne County, IN during November, 2024 is 14.85¢ per kWh.
Right now, a 10 kW setup will set you back about $42,000initially, but thanks to the 30% federal tax credit, you receive 30% back, reducing the total to $29,400.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Wayne County
To the left, you'll see a detailed price breakdown of the different sizes of solar panel systems implemented in Wayne County. When you select a bigger solar system, the cost is higher, but it also results in higher electricity savings and a greater income tax credit.
The cost-benefit analysis for solar panels, presented in the calculator to the right and below, is based on an average electric bill of $169.94 in Wayne County. By changing the $169.94 to your typical electricity bill, you can get tailored results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,331 a year
Est. Price
$17,640
Savings from a 6kWthis system
Est. yearly production 8,874 kWh
Est. monthly savings $111
Full payback in 9 years
Environmental Impacts
Reduces CO2 emissions by 6.73 tons a year
Equivalent to planting 309 trees a year
Equivalent to driving 16,667 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,553 a year
Est. Price
$20,580
Savings from a 7kWthis system
Est. yearly production 10,353 kWh
Est. monthly savings $129
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 7.86 tons a year
Equivalent to planting 361 trees a year
Equivalent to driving 19,445 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,775 a year
Est. Price
$23,520
Savings from a 8kWthis system
Est. yearly production 11,832 kWh
Est. monthly savings $148
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 8.98 tons a year
Equivalent to planting 412 trees a year
Equivalent to driving 22,222 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,997 a year
Est. Price
$26,460
Savings from a 9kWthis system
Est. yearly production 13,311 kWh
Est. monthly savings $166
Full payback in 13 years
Environmental Impacts
Reduces CO2 emissions by 10.1 tons a year
Equivalent to planting 464 trees a year
Equivalent to driving 25,000 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $2,218 a year
Est. Price
$29,400
Savings from a 10kWthis system
Est. yearly production 14,790 kWh
Est. monthly savings $170
Full payback in 14 years
Environmental Impacts
Reduces CO2 emissions by 10.32 tons a year
Equivalent to planting 474 trees a year
Equivalent to driving 25,543 mi less a year
Wayne County Solar Panel Installation Incentives & Rebates | 2024
The REAP Grant can potentially cover between 80% and 100% of the installation costs for solar energy or wind turbines for rural small businesses and farms. If you think you might be in this category, we suggest verifying your qualification with our REAP Grant eligibility tool.
For those looking into residential solar options, a 30% federal income tax credit is commonly available, boosting the appeal and practicality of solar energy in various areas throughout the nation. Alongside federal incentives, there are many state and local efforts to support solar energy adoption.
Indiana features 6 solar rebate and incentive programs available from various utilities and government organizations.
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 Wayne County, IN?
Planning to stay in your house beyond the solar payback period? Solar panels are a wise investment in Wayne County. Over a 20 year time frame, a 5 kW solar system in Wayne County, IN could save you approximately $26,085.6, with the average break even time being 7 years.
The cost of not having solar panels in Wayne County, IN
Without solar panels or another backup power source, you lose out on the earlier mentioned savings and are fully dependent on your electric utility for electricity. As demonstrated by recent news, complete reliance on your utility isn't always the most favorable situation.
Annually, the utilities in Wayne County have reported about 0.94 outages per customer. Each outage, on average, lasts for 107.47 minutes. In the case of major events like lightning strikes, overloaded power grids, or wildlife damage, this period can rise substantially.
Take a look at the component below to see the number of current electricity customers without power in Wayne County.
A solar energy system, whether it includes a backup battery or not, should help relieve the burden of future power outages you may encounter.
Power Outages
Currently, 0 customers are being tracked in Wayne County.
What impacts the cost of solar panels in Wayne County, IN?
Your Energy Needs - Even though larger solar panel systems have a higher initial cost, the cost per watt decreases. Many homeowners find it advantageous to install a system that can produce enough electricity to fully cover the entirety of their electric bill. This math makes the most sense for maximum savings.
Make & Model - Solar panels and mounting equipment, like many other products, are available in a variety of makes and models. Your installer’s brand preferences might require picking a reputable installer. Superior quality materials frequently result in a more satisfactory long-term experience for buyers.
Solar Panel Type - The industry standard is now monocrystalline panels, and justifiably so. Even though they are more expensive, they generate more energy. Many installers utilize panels crafted from this material.
Your Property - No two properties or homes are the same. Trees, irregular terrain, or other obstructions can make the installation process more challenging. With the use of satellite images, many solar installers nowadays can assess your home and include these elements into the first cost estimate.
Labor Rates - The varying wages that companies give their employees result in costs that are ultimately transferred to consumers. Higher wages generally correlate with better reviews for businesses' work and customer service.
Permitting & Interconnection - The cost of installation will change depending on local permitting and utility interconnection fees. Experienced local installers will include these figures in your preliminary estimates to guarantee transparency.
See what solar panels cost in other Wayne County cities
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Wayne County, IN Solar Panel Cost FAQs
As of November, 2024, the typical cost for solar panels in Wayne County, IN is $4.2/W. After federal tax credits, the installation of a 5 kW solar panel system in Wayne County, IN is estimated to cost $14,700.
Right now, Indiana has 6 rebates and incentives available through a variety of utility companies and government entities. Additionally, the vast majority qualify for the 30% federal tax credit.
Paying cash offers the most savings, yet there are several financing options available today for solar panels that are also beneficial. Initial quotes from installers will frequently include information about available financing options.
Yes, on average, 5 kW solar panels in Wayne County, IN pay for themselves in 7 years, with homeowners saving approximately $26,085.6 on electricity over 20 years.
Savings from 
Environmental Impacts 
