Cost Of Solar Panels In Indiana

Average solar panel cost.

Cost of solar panels in indiana.

Here s how the numbers pencil out for an indiana solar purchase with a 5 kw rooftop solar system. This is 2 49 per watt. Solar panel cost in indiana the average cost for an installed residential solar system in indiana is currently 11 038 after claiming the 26 federal solar tax credit. As of september 2020 the average solar panel cost in indianapolis in is 3 07 w.

Don t worry even without state incentives you can still knock a big chunk off the price right off the bat. Solar panel cost data indiana 2020 updated. Installing a typical 5kw solar system should start at about 21 250. National data september 2020.

The most recent official data from the. Indiana income tax deduction for solar powered roof vents or fans. However the investment tax credit from the federal government removes 30 of your outlay as a tax credit which is equivalent to subtracting around 6 300 from your net pv system cost. In addition you can expect to subtract around 750 from your electricity expenses over the first year.

While not directly considered a home solar power system indiana allows residents to take a deduction on solar powered roof fans or attic fans installed in a home that they own or leases up to 50 of the cost of the materials and installation labor up to 1 000. With no incentives the system would cost you around 21 000. With installation an average residential 5kw size system costs between 3 and 5 per watt according to the cse which results in the 15 000 to 25 000 range. That cost is before any tax credits.

The following is a breakdown of the costs and savings when installing a 5 kw pv system in indiana. As of sep 2020 the average. Given a solar panel system size of 5 kilowatts kw an average solar installation in indianapolis in ranges in cost from 13 048 to 17 652 with the average gross price for solar in indianapolis in coming in at 15 350. Another calculation that potential solar buyers have to consider is the solar payback period.