*Prices are shown after applying the 30% federal tax credit.
As of Oct 2024, the average cost of solar panels in Indianapolis is $2.31 per watt making a typical 6000 watt (6 kW) solar system $9,704 after claiming the 30% federal solar tax credit now available.
This is lower than the average price of residential solar power systems across the United States which is currently $3.00 per watt.
The size of a solar panel system also plays a role in how much the installation will cost.
Larger solar installations will typically have a lower cost per watt, because the panels can be purchased at a ‘bulk price’. However, these larger solar systems will still have a higher total cost, because they are made up of more individual panels.
System size* | Avg cost per watt |
Avg system cost
(After tax credit) show before tax |
---|---|---|
4kW | $2.52 | $7,055 |
5kW | $2.42 | $8,467 |
6kW | $2.31 | $9,704 |
7kW | $2.29 | $11,198 |
8kW | $2.30 | $12,908 |
9kW | $2.24 | $14,135 |
10kW | $2.22 | $15,529 |
Best unit price
$320.00 ($0.96 per watt)
Best system price
Installed 5.0kW system
$12,721.85
($2.53 p/w)
LG335N1K-V5 overview
Rated power
335 watts
Efficiency
19.6
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
KR
Best unit price
$562.50 ($1.50 per watt)
Best system price
Installed 4.9kW system
$12,120.18
($2.49 p/w)
LG375A1C-V5 overview
Rated power
375 watts
Efficiency
21.7
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
KR
Best unit price
$430.00 ($1.15 per watt)
Best system price
Installed 4.9kW system
$12,919.30
($2.65 p/w)
LG375Q1C-V5 overview
Rated power
375 watts
Efficiency
21.7
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
KR
Best unit price
$473.34 ($1.30 per watt)
Best system price
Installed 5.1kW system
$13,231.07
($2.59 p/w)
LG365Q1K-V5 overview
Rated power
365 watts
Efficiency
21.1
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
KR
Best unit price
$432.00 ($1.20 per watt)
Best system price
Installed 5.0kW system
$13,276.66
($2.63 p/w)
LG360Q1K-V5 overview
Rated power
360 watts
Efficiency
20.8
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$530.85 ($1.50 per watt)
Best system price
Installed 5.0kW system
$12,386.87
($2.49 p/w)
LG355Q1K-V5 overview
Rated power
355 watts
Efficiency
20.6
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$495.00 ($1.38 per watt)
Best system price
Installed 5.0kW system
$13,091.06
($2.60 p/w)
LG360Q1C-V5 overview
Rated power
360 watts
Efficiency
20.8
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$407.97 ($1.10 per watt)
Best system price
Installed 5.2kW system
$13,159.30
($2.54 p/w)
LG370Q1C-V5 overview
Rated power
370 watts
Efficiency
21.4
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$323.39 ($0.97 per watt)
Best system price
Installed 5.0kW system
$12,691.01
($2.53 p/w)
LG335N1C-V5 overview
Rated power
335 watts
Efficiency
19.6
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$338.19 ($0.99 per watt)
Best system price
Installed 5.1kW system
$0.00
($0.00 p/w)
LG340N1C-V5 overview
Rated power
340 watts
Efficiency
19.8
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$600.00 ($1.83 per watt)
Best system price
Installed 4.9kW system
$12,808.41
($2.61 p/w)
SPR-E20-327-COM overview
Rated power
327 watts
Efficiency
20.4
Number of Cells
96
Cell type
Monocrystalline
Manufactured
US
Best unit price
$800.00 ($2.22 per watt)
Best system price
Installed 5.0kW system
$13,201.67
($2.62 p/w)
SPR-X22-360 overview
Rated power
360 watts
Efficiency
22.2
Number of Cells
96
Cell type
Monocrystalline
Manufactured
US
Best unit price
$620.00 ($1.90 per watt)
Best system price
Installed 4.9kW system
$13,703.10
($2.79 p/w)
SPR-E20-327-D-AC overview
Rated power
327 watts
Efficiency
20.4
Number of Cells
96
Cell type
Monocrystalline
Manufactured
US
Best unit price
$620.00 ($1.90 per watt)
Best system price
Installed 4.9kW system
$13,610.59
($2.77 p/w)
SPR-E20-327 overview
Rated power
327 watts
Efficiency
20.4
Number of Cells
96
Cell type
Monocrystalline
Manufactured
US
Best unit price
$181.00 ($0.60 per watt)
Best system price
Installed 5.1kW system
$11,003.04
($2.16 p/w)
CS6K-300MS overview
Rated power
300 watts
Efficiency
18.33
Number of Cells
60
Cell type
Monocrystalline
Manufactured
CA
Best unit price
$196.11 ($0.65 per watt)
Best system price
Installed 5.1kW system
$9,948.02
($1.95 p/w)
LR6-60-HPB-300M overview
Rated power
300 watts
Efficiency
18.1
Number of Cells
120
Cell type
Mono PERC
Manufactured
CN
Best unit price
$172.00 ($0.56 per watt)
Best system price
Installed 4.9kW system
$9,568.53
($1.96 p/w)
LR6-60-HPB-305M overview
Rated power
305 watts
Efficiency
18.4
Number of Cells
120
Cell type
Mono PERC
Manufactured
CN
Best unit price
$165.00 ($0.53 per watt)
Best system price
Installed 5.0kW system
$9,761.72
($1.97 p/w)
LR6-60-HPB-310M overview
Rated power
310 watts
Efficiency
18.7
Number of Cells
120
Cell type
Mono PERC
Manufactured
CN
Best unit price
$228.00 ($0.60 per watt)
Best system price
Installed 4.9kW system
$9,579.65
($1.94 p/w)
LR4-60HPH-380M overview
Rated power
380 watts
Efficiency
20.9
Number of Cells
120
Cell type
Mono PERC
Manufactured
CN
Best unit price
$234.00 ($0.60 per watt)
Best system price
Installed 5.1kW system
$10,126.74
($2.00 p/w)
LR6-72HBD-390M overview
Rated power
390 watts
Efficiency
19.4
Number of Cells
144
Cell type
Mono PERC
Manufactured
CN
4.66 36 Reviews
M R Yan, over 1 month
THiS is the solar installer to go with if you want high quality American made products, knowledgeable assessments and skilled installation. Great turnaround time and excellent communication. Now on the phone and computer we can watch our roof catching sun. Realtime graphs are easy to understand. They defined a recent power outage to the minute, and reset seamlessly when power returned. We even see spikes when the sun pops through on a cloudy day. Basically, we're watching the system buy itself back!
Read more
M R Yan, over 1 month
THiS is the solar installer to go with if you want high quality American made products, knowledgeable assessments and skilled installation. Great turnaround time and excellent communication. Now on the phone and computer we can watch our roof catching sun. Realtime graphs are easy to understand. They defined a recent power outage to the minute, and reset seamlessly when power returned. We even see spikes when the sun pops through on a cloudy day. Basically, we're watching the system buy itself back!
4.52 1,948 Reviews
Johnathan Williams, 3 days ago
Had panels installed last October and my utility company dragged their feet connecting it, but finally did so in early January. After almost a whole year i am happy to say that I am no longer worried about these coming rate hikes because my system covers my bill! Fixed payments for me! Sure my initial payments were a little higher than my average by a tad but it's an INVESTMENT!
Read more
Johnathan Williams, 3 days ago
Had panels installed last October and my utility company dragged their feet connecting it, but finally did so in early January. After almost a whole year i am happy to say that I am no longer worried about these coming rate hikes because my system covers my bill! Fixed payments for me! Sure my initial payments were a little higher than my average by a tad but it's an INVESTMENT!
4.47 28 Reviews
Anonymous, over 1 month
I am very pleased with my solar system. It runs my whole shop and since the installation in 2015 I have had zero issues. The people at Photon Electric are professional's and I would highly recommend them.
Read more
Anonymous, over 1 month
I am very pleased with my solar system. It runs my whole shop and since the installation in 2015 I have had zero issues. The people at Photon Electric are professional's and I would highly recommend them.
4.42 22 Reviews
Anonymous, over 1 month
Midwest installed an 18.9 kw ground mounted system for us that was an especially challenging set of circumstances. Without going into all the details, let's just say they went above and beyond to do whatever it took to make this work, and stayed at their quoted amount even after a lot of challenges. Top notch organization!
Read more
Anonymous, over 1 month
Midwest installed an 18.9 kw ground mounted system for us that was an especially challenging set of circumstances. Without going into all the details, let's just say they went above and beyond to do whatever it took to make this work, and stayed at their quoted amount even after a lot of challenges. Top notch organization!
4.09 37 Reviews
Ian, 1 week ago
They pay customers to leave reviews. My system has been down for almost 6 weeks, they have told me someone will come in the next 1-2 weeks every time I check in. Their service and reliability leaves much to be desired. Will update review when system is repaired.
Read more
Ian, 1 week ago
They pay customers to leave reviews. My system has been down for almost 6 weeks, they have told me someone will come in the next 1-2 weeks every time I check in. Their service and reliability leaves much to be desired. Will update review when system is repaired.
4.07 24 Reviews
J.o, over 1 month
I had Really High Hopes for Solar "Don't get me wrong solar is Great" However when their employs lie to you make false claims and false representations It's Sad and definitely makes you not happy with your system. I have personally went out of my way to attempt to work things out! However Jeff Nazarko in my opinion is a person with no morales or integrity at all. he will lie to you at every turn. If you have any other choice for solar go that route. If this company is your only choice DON'T USE THEM! I can't say every person their is bad, as Ben, Ezra, And Matt all where ok. I had originally referred 1 of my clients to use these guys. " That was Before I learned better Thanks To Jeff" Thankfully She has not started her solar stuff as of yet. And I assure you I will inform her of my issues with jeff and she wont use them. If I have anything at all to say in it. I will recommend SYNERGY to her or any other Installer!! All Thanks to Jeff Nazarko.
Read more
J.o, over 1 month
I had Really High Hopes for Solar "Don't get me wrong solar is Great" However when their employs lie to you make false claims and false representations It's Sad and definitely makes you not happy with your system. I have personally went out of my way to attempt to work things out! However Jeff Nazarko in my opinion is a person with no morales or integrity at all. he will lie to you at every turn. If you have any other choice for solar go that route. If this company is your only choice DON'T USE THEM! I can't say every person their is bad, as Ben, Ezra, And Matt all where ok. I had originally referred 1 of my clients to use these guys. " That was Before I learned better Thanks To Jeff" Thankfully She has not started her solar stuff as of yet. And I assure you I will inform her of my issues with jeff and she wont use them. If I have anything at all to say in it. I will recommend SYNERGY to her or any other Installer!! All Thanks to Jeff Nazarko.
4.06 6 Reviews
Anonymous, over 1 month
The whole team at Morton Solar was professional, courteous, on time and efficient. I've been very pleased with my Morton Solar investment!
Read more
Anonymous, over 1 month
The whole team at Morton Solar was professional, courteous, on time and efficient. I've been very pleased with my Morton Solar investment!
4.03 9 Reviews
The Kirk's , over 1 month
I had nothing but the best service from ICON solar from the first time I contacted them until the install was complete. They were very informative on all the questions I had. The installers were polite and very pleasant to work with. I would HIGHLY recommend ICON if you are considering solar.
Read more
The Kirk's , over 1 month
I had nothing but the best service from ICON solar from the first time I contacted them until the install was complete. They were very informative on all the questions I had. The installers were polite and very pleasant to work with. I would HIGHLY recommend ICON if you are considering solar.
4.01 18 Reviews
Anonymous, over 1 month
Power generation has exceeded estimates. Installation went smoothly.
Read more
Anonymous, over 1 month
Power generation has exceeded estimates. Installation went smoothly.
3.93 2 Reviews
Andrew Carlson, over 1 month
Whole Sun Designs is a well organized company who you can trust to guide you through a new solar installation. Ryan and his whole team really care about building quality systems that fit the needs of the homeowner. They handle all the design and local paperwork to make the process easy. The system on my house was a 7.92 kW array with a Tesla Powerwall backup battery and gateway. It's been great to see the whole house continue to be powered through a local power outage.
Read more
Andrew Carlson, over 1 month
Whole Sun Designs is a well organized company who you can trust to guide you through a new solar installation. Ryan and his whole team really care about building quality systems that fit the needs of the homeowner. They handle all the design and local paperwork to make the process easy. The system on my house was a 7.92 kW array with a Tesla Powerwall backup battery and gateway. It's been great to see the whole house continue to be powered through a local power outage.
Where there is no specific pricing information available for a brand then we have used state pricing data for that brand.
Solar panel manufacturer | Avg. cost per watt |
---|---|
Canadian Solar | $2.16 |
LONGi Solar | $2.08 |
LG Solar | $2.57 |
Panasonic | $2.60 |
SunPower | $2.69 |
The most important difference between buying solar panels and any other purchase is that solar panels last 25-30 years. This is a long, long time and you will need customer service over all that time. The reviews below of the two largest corporate solar installation companies indicate larger corporate solar companies are not delivering this support to their customers.
We recommend you find a small or mid-size, local, family-owned solar company. These companies tend to care more about you and your specific job. You don't want to be on hold to a corporation's call center for the next 25 years!
The cost of solar doesn't just include the equipment and installation costs - it’s also made up of permitting costs, inspection costs, and installer profit margins.
These different components are what make the price of solar fluctuate between installations. Some of the factors that affect solar power system installation costs for specific homes include:
Homes that use more electricity will need more solar panels to cover their energy needs.
Although solar panels do get cheaper on a per-watt basis, the overall cost of the system will increase as more panels are added.
But, the higher a home’s energy usage, the more solar panels can save the homeowners on their energy bills.
The price of solar panels can vary depending on the type of solar panels you choose.
There are two main types of solar panels for residential solar installations: monocrystalline and polycrystalline. Monocrystalline solar panels tend to be more efficient and more expensive than other solar panels. Polycrystalline panels have a lower efficiency rating and come at a lower price point.
The type of inverter you buy will also influence the cost of your solar system.
You may see some solar quotes with prices that seem too good to be true.
If you get quoted for a ridiculously cheap price, the installer might be using low-quality equipment or an unsustainable pricing model. You want to use a solar installer that is charging enough so that they can stay in business - as you’ll be relying on them for the next 25 years!
It’s important to make sure that your installer is giving you the best quality at the best price possible. This is why getting multiple solar quotes is so important.
The overall cost of solar can be influenced by the solar incentives available.
Across the U.S., homeowners can apply for the federal solar tax credit. The solar tax credit makes installing solar more cost-effective by providing homeowners with a tax credit equal to 30% of the cost of their installed solar panel system.
Local solar tax incentives and rebates can end up saving homeowners thousands on a solar installation, especially when they’re used with the federal solar tax credit.
See what solar incentives are available in your area by using our solar panel calculator.
The cost of installing residential solar panels in Indianapolis varies with the brand of solar panels and inverters you choose, the installation company you choose to install them, the relative ease or difficulty of installing solar panels on your home, and of course the amount of solar panels you need. The amount of solar panels you need is, in turn, related to your energy usage.
The table below shows the data extracted from a real life quote delivered through the SolarReviews marketplace recently for a fairly typical home in Indianapolis.
As you can see the payback period is relatively short and equates to a much better return on investment than he historical returns that have been available from investing in things like shares or property.
System information | Value |
---|---|
System Size (for 100% usage offset) | 11.07 kW |
Annual power generation | 14,963 kWh |
Pay-back time (assuming Cash purchase) | 9.3 Years |
Internal rate of return (IRR) on investment | 6.6% |
Gross cost | $25,872 |
Total Upfront Incentives and Rebates | -$6,727 |
Net Cost of System after rebated and incentives | $19,146 |
Total Cost of Utility Power Avoided over 25 years | $66,897 |