Interested in going solar? You'll need to install a 12.75 kW solar panel system to cover the average electric bill in Indiana, which will cost you about $27,620 after the federal tax credit.
As long as your federal tax bill is high enough, you can take advantage of the federal investment tax credit (ITC).
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Looking to power your home with clean, sustainable energy that’ll boost your energy independence? Going solar in Indiana reduces your carbon footprint and your reliance on the utility electric grid.
Factor in the federal solar tax credit, and Hoosiers can cut the cost of solar by thousands of dollars, speeding up your payback period and increasing the value of your investment.
Here's our guide to going solar in Indiana.
Solar panels will save you a lot of money over time, but the upfront costs aren't cheap. The average Indiana homeowner needs a 12.75 kW solar panel system to cover their electricity needs, which comes out to $39,457 before incentives. Prices range from $33,538 to $45,376, but after the federal tax credit, that drops by 30%.
Over 14,000 Indiana homeowners have used EnergySage to receive and compare quotes for solar installations. You can expect to earn back your initial solar investment through electricity savings in about 13.29 years, while most systems last at least 25 years. You'll often see this number referenced as your solar payback period .
There are a few ways to finance your solar panel system so you don't have to provide all that money upfront.