Solar Panels Cost 8.5k-19k in Winchester, IN | October, 2024

Solar Panels Cost $8.5k-$19k in Winchester, IN | October, 2024

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

You'll spend $4.08/W to get solar panels in the month of October, 2024 in Winchester, IN.

Applying this price per watt, we are able to conclude that for every 1 kW (1000 watts) of solar power capacity will require an investment of $4,080 for installation. After receiving the 30% federal tax credit, you can expect to pay about $14,280, in Winchester, for a 5 kW solar panel system. It's important to consider that a bigger system might be essential to satisfy your energy requirements.

Use the left-hand menu to select your area and view the average roof size and the maximum production capacity for residential solar on homes in your county. The following breakdown, below, highlights the price, 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.
Winchester: $14,280US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Winchester: 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.
Winchester: $11,146US Average: $15,784

Solar Potential in Winchester

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

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

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

The average electric bill for a Winchester energy consumer is $131.44, with monthly usage averaging 813 kWh. Be aware that this number covers apartments and other smaller homes, which generally use less energy.

In October 2024, the electricity rate in Winchester, IN is 16.17¢ per kWh.

In Winchester, a typical electricity consumer's electricity requirements can be completely accounted for by a solar panel system with a production capacity of 7 kW or more. At this time, a 7 kW solar installation will be priced at around $28,560initially, but thanks to the 30% federal tax credit, you receive 30% back, lowering the price to $19,992.

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Average solar panel costs by system size in Winchester

On your left, you will see a detailed cost analysis for various solar panel system sizes installed in Winchester. When you choose a larger solar system, the cost is greater, but it also leads to more significant electricity savings and a more substantial income tax credit.

The solar panel cost calculator below and to the right details costs and benefits, considering an average $131.44 electric bill in Winchester To get results more customized, modify the $131.44 to align with your regular electricity bill.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $710 a year
Est. Price
$8,568
Savings from a 3kWthis system
  • Est. yearly production 4,437 kWh
  • Est. monthly savings $59
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 4.13 tons a year
  • Equivalent to planting 190 trees a year
  • Equivalent to driving 10,220 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $947 a year
Est. Price
$11,424
Savings from a 4kWthis system
  • Est. yearly production 5,916 kWh
  • Est. monthly savings $79
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 5.51 tons a year
  • Equivalent to planting 253 trees a year
  • Equivalent to driving 13,627 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,183 a year
Est. Price
$14,280
Savings from a 5kWthis system
  • Est. yearly production 7,395 kWh
  • Est. monthly savings $99
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 6.88 tons a year
  • Equivalent to planting 316 trees a year
  • Equivalent to driving 17,034 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,420 a year
Est. Price
$17,136
Savings from a 6kWthis system
  • Est. yearly production 8,874 kWh
  • Est. monthly savings $118
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 8.26 tons a year
  • Equivalent to planting 379 trees a year
  • Equivalent to driving 20,440 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,656 a year
Est. Price
$19,992
Savings from a 7kWthis system
  • Est. yearly production 10,353 kWh
  • Est. monthly savings $131
  • Full payback in 13 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

Winchester Solar Panel Installation Incentives & Rebates | 2024

If you currently own a agricultural property or small business in a rural area, the REAP Grant could cover between 80% and 100% of your solar energy or wind turbine installation costs. To see if you qualify, use our REAP Grant eligibility tool.

A 30% federal tax credit is accessible to most homeowners for residential solar installations, which renders solar energy a practical choice in numerous regions throughout the United States. Furthermore, many regional and state programs are designed to encourage more people to switch to solar power.

Multiple 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?

If you plan to own your residence longer than the solar system's payback period, solar panels are a good investment in Winchester. Installing a 5 kW solar system in Winchester, IN will, on average, save you $17,265.6 over 20 years, and you can expect to break even in about 9 years.

The cost of not having solar panels in Winchester, IN

Besides forgoing the aforementioned savings, not having solar panels or any backup energy system makes you totally reliant on your electric utility for power. Several recent examples in the news have revealed that full reliance on your utility company isn't always ideal.

Generally, customers in Winchester encounter around 1.32 outages. On average, the length of an outage is 260.05 minutes. Major events like lightning strikes, overloaded power grids, or vandalism can cause these durations to rise considerably.

Whether a backup battery is present or not, a solar panel system could ease the burden of potential future outages.

Power Outages

Currently, 0 customers are being tracked in Randolph County.

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Customers Out:

0

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

Your Energy Needs - The upfront cost for larger solar panel systems is greater, but the cost per watt diminishes as the system size increases. Homeowners often discover that installing a solar system that can offset their entire electric bill is beneficial, resulting in maximum savings.

Make & Model - Similar to other items, solar panels and mounting equipment are available in a wide variety of makes and models. The preferences for brand that your installer has may make it essential to select a reputable installer. The selection of superior makes and models can substantially improve the long-term experience for buyers.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even though they are costlier, they provide additional energy. Most installers use panels constructed from this material.

Your Property - Each property and residence is unique. Issues like irregular terrain, trees, or additional obstacles may add to the complexity of the installation. Nowadays, satellite images allow many solar installers to evaluate your home and factor in these elements into the first cost estimate.

Labor Rates - Employees get varied wages from different companies, and these costs are borne by the consumers. Higher reviews for work and customer service are frequently associated with businesses that pay higher wages.

Permitting & Interconnection - The cost of installation will be impacted by different local permitting and utility interconnection fees. Reliable local installers will integrate these figures into your preliminary 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 Winchester?

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.

Winchester, IN Solar Panel Cost FAQs

  • As recorded in October, 2024, the standard cost for solar panel installations in Winchester, IN is $4.08/W. With the federal tax credit, the cost of a 5 kW solar panel system in Winchester, IN drops to roughly $14,280.

  • Utilities and government agencies in Indiana are currently offering 4 different rebates and incentives. On top of that, nearly everyone can qualify for the 30% federal tax credit.

  • While cash payments offer the most savings, there are now various financing options for solar panels that are also financially beneficial. Information about financing options will often be provided in your preliminary quotes by many installers.

  • Yes, the payback period for 5 kW solar energy systems in Winchester, IN averages 9 years, with electricity savings of about $17,265.6 over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01