Solar Power in Indiana
Going solar in Indiana is a great investment for your home. State law requires privately-owned utilities to offer full retail net metering to their customers. Indiana also has a voluntary renewable portfolio standard that allows utilities to opt into the program to have an average of at least 10% of the electricity they supply to customers come from renewable sources.
Net metering combined with the 26% federal tax credit makes solar an excellent choice for Indiana homeowners.
Indiana Solar Power Facts
$2.73 watt
Average cost: 5kW solar power system.
Average Payback time
On average it takes 8 Years 2 Months to pay back the system.
Average Lifetime Savings
On average, solar power can save you $41,681 over your lifetime.
7¢ kWh
This is the levelized cost of solar energy.
30¢ kWh
This is the levelized cost of energy without solar panels.
8,094 kWh
Annual power production of home solar panels.
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How much do solar panels cost in Indiana?
Before 26% solar tax credit
Before 26% solar tax credit
Ave 15 year term, 2.5% price escalator
What are the pros and cons of installing solar panels in Indiana?
The advantage of installing solar panels in Indiana is the state-mandated net metering requirement. Privately owned utilities must offer kilowatt hour (kWh) credits for excess energy generated by solar systems. Indiana law also offers property and sales tax exemptions for solar energy systems.
The disadvantage of installing solar panels in Indiana is that there is very little in the way of state and utility-based incentives. Also, Indiana does not receive as much sunshine as other states, so a solar system here will produce less than a system in a sunnier state, such as Arizona.
However, full retail net metering and the federal tax credit more than make up for what the state lacks in sunshine. With net metering set to end by 2022, the best time to go solar in Indiana is now!