Cost & Savings Breakdown
Based on $150/month electric bill in Evansville
System Size
7.1 kW
Annual Production
9,799 kWh
Gross System Cost
$20,348
Federal Tax Credit (30%)
-$6,105
State Incentive
-$1,000
Net Cost
$13,244
Monthly Savings
$122
CO₂ Offset/yr
9,015 lbs
25-Year Savings Projection
Utility & Net Metering
Local UtilityVectren
Net Metering PolicyFull Retail
Compensation RateFull retail rate
Capacity LimitCheck with utility
Electricity Rate$0.149/kWh
Peak Sun Hours4.7 hrs/day
Available Incentives
30%
Federal ITC — Deduct 30% of your system cost from federal taxes. Available through 2032.
$1,000
Indiana State Incentive — Indiana offers a property tax deduction for solar installations.
Common Questions
How much does solar cost in Evansville?
Solar in Evansville, Indiana costs approximately $20,348 for a 7.1 kW system. After the 30% federal tax credit, your net cost is about $13,244.
What is the solar payback period in Evansville?
The estimated payback period for solar in Evansville is 9.1 years, based on a $150/month electric bill and local sun hours of 4.7 hrs/day.
Does Vectren offer net metering?
Vectren offers Full Retail net metering. Check with your utility for current compensation rates..