Bloomington, Ind. - Indiana Solar (ISFA) has again partnered with the City of Bloomington to increase the number of low- and middle-income households with access to solar energy in the city. These low - and middle-income solar efforts are part of the City Thrive Indianapolis plan that was adopted earlier this year. At the Indiana Solar Congress on December 7, Indianapolis announced that it would launch an IS-style program to allow 20% of low- to moderate-income households to switch to solar energy by next year and 30% by 2020.
Initial funding was provided through an initiative jointly sponsored by Indiana Solar and the City of Bloomington's Department of Public Works and Public Utilities. The initial $1.5 million funding from the city and ISFA will fund components for solar panels and consulting services that will enable families to run solar. It also reduces the cost for installation partners to pass on a portion of the savings to IndianaSolar All as a contribution.
If you live in Indianapolis, you may be able to get a reduced permit fee for installing a photovoltaic system on your home or business. The City of Bloomington, Department of Public Works and Public Utilities, and the City of Indianapolis meet certain criteria for environmentally friendly construction, including installation of photovoltaic systems, and offer reduced fees for solar panels on their property.
A system that generates energy using solar energy is exempt from property tax, while subsidiaries that are unique to the system (including storage and distribution facilities) receive incentives. This allows those who want to install a plant to sell the electricity produced back to NIPSCO to use it to produce electricity for their home, business or other purposes.
In Indiana, tax credits are available for solar power that can cover up to 80% of the installed cost of a solar system. This is the case everywhere in the US, but those who buy solar energy in Indiana actually pay less tax. Combine that with the state's low property tax rate of 2.5% and you actually earn more money than if you paid less tax in other states.
One of the most important benefits of solar panels in Indiana is the state's grid measurement system, which requires utilities to give you a credit for every kWh you put back on the grid, and there is no expiration date for the credit accumulated.
The payback period for solar power in Indiana far exceeds the average cost of cheap electricity, which averages $0.12 per kWh. For a 1,000 kilowatt-hours (kWh) solar system, the payback period is estimated to be about 10 years, with an average of 2 years.
For the average Indiana household, generating electricity from solar would save $1,387 a year. SEIA expects Indiana to generate more than 1.5 million megawatts (MW) of solar power over the next five years.
The low cost of electricity in Indiana could be a major factor in the rapid growth of the state's solar capacity. The average electricity price for Indiana is achieved through a combination of renewable energy sources such as wind, solar, and geothermal, but here, too, the cost to the Hoosier State could slow.
The cost of installing solar panels in Indiana varies depending on the type of equipment used for installation and what you are eligible for. Talk to a trusted solar installer in Indiana to get the best price for your solar system in the state of Indiana, depending on location and exact location.
This information is the average solar energy conditions in Indiana, but keep in mind that each project is different based on location - specific factors. These conditions are the most common in the state of Indiana in terms of wind, solar, and geothermal energy, so their absence is not necessarily a deal - a breakthrough. This is the general state of solarPower Indiana and represents an average of all available conditions for installation and installation costs of a solar system.
If you want to install solar panels on your home, farm or business in Indiana, MOXIE has the expertise to do it better than anyone else. Our solar energy experts can connect you with some of the leading solar companies in Indiana to ensure that your home PV system is properly sized and connected. Headquartered in Hammond, Indiana, we are able to offer professional turnkey solar systems throughout the state.
Our goal is to encourage those considering solar energy for their homes to gain a basic understanding of the solar potential in their region and to discover the best opportunities for clean energy. Our in-house solar energy experts want to work with you to find out what installing solar energy in Indiana means for your financial future and for future generations. We all have - in the program that was released on January 9, but for the record here are some of the most important facts about solar energy in the state of Indiana. You have the opportunity to find out more about solar Energy Indiana on our website, Facebook page and on the MOXIE website.