Cost of solar in Indianapolis, IN

Electricity Consumption in Indianapolis

Electricity Consumption by Indiana residents averages 1055 kWh per month. It ranks #37 in the nation for savings from installing solar panels on the home.

Find local city information


Solar power in Indianapolis, Indiana

Indianapolis Power and Light offers net metering to its Indianapolis customers. The utility will pay their solar customers for any excess electricity their solar systems generate at the full retail rate of electricity. However, net metering in Indiana is being phased out. Customers who sign up for net metering before July 1, 2022, will be in the net metering program until July 1, 2032. However, any systems installed after July 1, 2022, cannot sign up for net metering. So, the sooner you install solar in Indiana, the better!

Indianapolis residents can also take advantage of the federal solar tax credit. The tax credit is equal to 30% of the cost of a solar system and is applied to your federal income taxes. In some cases, you may be able to wipe out your entire tax bill for a year! The combination of the federal tax credit and Indianapolis Power and Light’s net metering program can provide you with a great return on investment when installing a solar system in Indiana! 

Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator for Indianapolis to find out:

 

Estimate your solar savings

 

Solar power in Indiana

The average cost of installing residential solar panels in Indianapolis, Indiana in 2019 is $3.62 per watt. The average system size in the US is 6 kilowatts, which means the average price of a solar system in Indianapolis, IN is $18,100. (before claiming 30% tax credit and other rebates)

What does the cost of a real solar system look like?

Facts about installing a 6.87kW solar system in Indianapolis, IN

This system would offset 100% of your energy usage if your typical monthly bill is $114, however your situation may vary so try our Indianapolis solar calculator to get a result tailored to you.

$16,976

Net cost of system
Cash - after 30% solar tax credit

10 Years

Average payback time

8,094
kWh

Annual power production


/kWh

levilized cost of solar energy

30¢
/kWh

If you don't get solar
The forecast average utility price over the next 25 years

Cash flow graph based on cash purchase of this 6.87kW system

Life-time savings on this system over the next 25 years

$36,294

(Prices shown after repayments of capital)

 


 

Solar companies in Indianapolis, IN that provide pricing through the Solar-Estimate marketplace

4

 


Solar calculator and quote comparison tool

Average total cost of solar panel installation in Indiana

System Size Cash purchase
After 30% solar tax credit
Financed purchase
After 30% solar tax credit
3kw $8,316 $8,981
4kw $10,780 $11,642
5kw $13,090 $14,137
6kw $15,204 $16,420
7kw $17,199 $18,575
8kw $19,040 $20,563
9kw $20,727 $22,385
10kw $22,260 $24,041

 

Design your own solar panel system for your home

Going solar in Indiana

Check out all of the ways energy providers of Indiana can help you be more energy efficient and save money.

The following programs are available:
Incentive Name Eligibility Type
Residential Renewable Energy Tax Credit Federal Personal Tax Credit
Net Metering State Net Metering
Sales and Use Tax Exemption for Electrical Generating Equipment State Sales Tax Incentive
Solar and Wind Technologies Property Tax Exemption State Property Tax Incentive
Find your local rebates and incentives

Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.