Solar Panels Cost 11k-22k in Westfield, IN | October, 2024

Solar Panels Cost $11k-$22k in Westfield, IN | October, 2024

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

For solar panels in Westfield, IN, the cost per watt in October, 2024 is , on average, $4/W.

You should expect to pay $4,000, on average, for every 1000 watts (or 1 kW) of solar energy your solar panels will need to produce. We can come up with this number by applying this rate price cost per watt. When you consider the 30% federal tax credit, a 5 kW solar panel install in Westfield will cost approximately $14,000. Depending on your electricity consumption habits, you may need a bigger system.

By selecting your county on the left, you can determine the typical roof size and the average maximum capacity for residential solar panel systems in your area. You can also see an analysis 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.
Westfield: $14,000US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Westfield: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Westfield: $9,791US Average: $15,784

Solar Potential in Westfield

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

Roof size 930sq. ft.
Capacity 13kW DC
Electricity 15.1kkWh AC per yr.

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

For Westfield energy consumers, the average electric bill is $124.13 per month, with a usage of 952 kWh. Small apartments are also included in the statistics mentioned in the previous sentence. The lower energy use in these types of dwellings impacts those averages.

The average rate for electricity in Westfield, IN in October, 2024 is 13.04¢ per kWh.

If you’re a typical electricity user in Westfield you has to have an 8 kW or higher sized system to cover your full energy requirements. Upfront, an 8 kW setup is priced at $32,000, but after a 30% tax credit, the total cost is $22,400.

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Average solar panel costs by system size in Westfield

To the left side and below, there is the cost summary for multiple sizes of the solar panel systems installed in Westfield. Of course, with a more extensive solar system, you will have a larger initial investment, but the benefits consist of higher electricity savings and larger income tax credits.

In the solar panel cost calculator situated to the right and below, you can examine a cost and benefit breakdown to match an average $124.13electric bill in Westfield. Adjust the $124.13 to align with your average electricity bill payment for more tailored results.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $769 a year
Est. Price
$11,200
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $64
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 4.73 tons a year
  • Equivalent to planting 217 trees a year
  • Equivalent to driving 11,697 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $961 a year
Est. Price
$14,000
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $80
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 5.91 tons a year
  • Equivalent to planting 271 trees a year
  • Equivalent to driving 14,621 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,154 a year
Est. Price
$16,800
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $96
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 7.09 tons a year
  • Equivalent to planting 326 trees a year
  • Equivalent to driving 17,545 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,346 a year
Est. Price
$19,600
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $112
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 8.27 tons a year
  • Equivalent to planting 380 trees a year
  • Equivalent to driving 20,470 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,538 a year
Est. Price
$22,400
Savings from a 8kWthis system
  • Est. yearly production 11,832 kWh
  • Est. monthly savings $124
  • Full payback in 15 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

Westfield Solar Panel Installation Incentives & Rebates | 2024

With the REAP Grant, up to 100% and no less than 80% of the installation costs for solar or wind turbines may be covered for rural small business owners and farmers. If you believe yourself eligible, we recommend utilizing our REAP Grant eligibility tool to confirm your qualification.

Almost all homeowners can qualify for the 30% federal income tax credit for residential solar, making solar energy a sensible option in most parts of the country. Besides the federal incentives, state and local programs also work to boost solar energy uptake.

Multiple utilities and governmental bodies 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?

If your intention is to stay in your home beyond the solar payback period, installing solar panels is a wise option in Westfield. In Westfield, IN, the installation of a 5 kW solar system can save you an average of $15,791.2 over 20 years, with an average break even point of 9 years.

The cost of not having solar panels in Westfield, IN

Without solar panels or another energy backup source, you lose out on the savings highlighted earlier and are completely dependent on your electric utility for power. Total dependence on your utility provider is not always ideal, as recent examples in the news have highlighted.

Annually, the average number of outages per customer in Westfield is about 1.12. On average, an outage lasts 132.84 minutes. When major events such as lightning strikes, construction accidents, or equipment failure occur, these durations can increase significantly

A solar panel system could alleviate the burden of future outages, even if it doesn't have a backup battery.

Power Outages

Currently, 0 customers are being tracked in Hamilton County.

Learn more

Customers Out:

0

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

Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is greater. Setting up a solar system that produces sufficient electricity to eliminate their electric bill is advantageous to most individuals, ensuring savings.

Make & Model - Just like many products, solar panels are offered in a wide variety of makes and models. Given the certain brand preferences an installer might have, choosing a highly rated installer is crucial. For buyers seeking a better long-term experience, choosing superior quality models is critical.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even though they are costlier, they provide more energy. The majority of installers work with panels made from this material.

Your Property - Challenges like trees, sloping terrain, or additional obstacles can increase the difficulty of installing solar panels. Nowadays, solar installers frequently leverage satellite images to assess your home and incorporate these elements into the initial cost estimate.

Labor Rates - Differences in employee wages across companies result in expenses that are transferred to the consumers. Reviews for work and customer service are often higher for businesses that pay higher wages.

Permitting & Interconnection - Installation costs will be affected by regularly changing local permitting and utility interconnection fees, depending on the region. Good local installers will integrate these figures into your first estimates to prevent any surprises.

See what solar panels cost in other IN cities

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Who are the best solar installers in Westfield?

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.

Westfield, IN Solar Panel Cost FAQs

  • In October, 2024, the typical price per watt for solar panels in Westfield, IN is $4/W. After federal tax credits, the installation of a 5 kW solar panel system in Westfield, IN is estimated to cost $14,000.

  • There are 4 rebates and incentives available in Indiana from a range of utility providers and government organizations. Additionally, almost everyone is entitled to the 30% federal income tax credit.

  • Paying cash offers the most savings, yet there are several financing options available today for solar panels that are also beneficial. Many installers work with financing partners and will provide this information in your initial quotes.

  • Yes, homeowners in Westfield, IN generally see a payback time of 9 years for 5 kW solar panel systems, with electricity savings averaging $15,791.2 over a 20-year period.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01