Cost & Savings Breakdown
Based on $150/month electric bill in Lafayette
System Size
7.1 kW
Annual Production
9,299 kWh
Gross System Cost
$20,170
Federal Tax Credit (30%)
-$6,051
State Incentive
-$1,000
Net Cost
$13,119
Monthly Savings
$122
CO₂ Offset/yr
8,555 lbs
25-Year Savings Projection
Utility & Net Metering
Local UtilityDuke Energy IN
Net Metering PolicyFull Retail
Compensation RateFull retail rate
Capacity Limit1 MW limit
Electricity Rate$0.157/kWh
Peak Sun Hours4.5 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 Lafayette?
Solar in Lafayette, Indiana costs approximately $20,170 for a 7.1 kW system. After the 30% federal tax credit, your net cost is about $13,119.
What is the solar payback period in Lafayette?
The estimated payback period for solar in Lafayette is 9 years, based on a $150/month electric bill and local sun hours of 4.5 hrs/day.
Does Duke Energy IN offer net metering?
Duke Energy IN offers Full Retail net metering. Full retail rate.