Solar in Richmond, IN
With City of Richmond's electricity at about 13.2¢ per kWh and 1,317 kWh of sun per kW, solar is not worth it for a typical Richmond home today: about a 21-year payback.
- Payback, typical home
- 21 yrsIndiana: 16.9 yrs
- 25-year net
- $3,926after paying $14,720
- Sun
- 1,317kWh per kW per year
- Electricity
- 13.2¢27% below U.S. average
A typical Richmond home, by the numbers
| Utility | City of Richmond |
|---|---|
| Electricity use | 961 kWh a month |
| Best-value system | 4.4 kW, about 10 panels, 5,794 kWh a year (50% of use) |
| Cost | $14,720 |
| First-year savings | $643 |
| Payback | 21.0 years |
| Exported power | Reduced export credit (Indiana rule) |
Cash purchase, no federal credit, 3.3% yearly rate increases. Run it with your own numbers.
Homes in Richmond
- Owner-occupied homes
- 57%
- Single-family detached
- 69%
- Median home value
- $114k
- Median year built
- 1957
- Population
- 35,581
Census ACS 2020–2024.
Older housing stock. Many homes here were built before 1975. Have the roof and electrical panel checked before signing; a roof or panel upgrade can add thousands. Roof first?
Installers working in Richmond
Public installation records for Indiana don't name installers, so we can't rank local companies here. Browse installers in Indiana.
Always verify the license and get at least three quotes. Compare quotes side by side.
Questions about solar in Richmond
Is solar worth it in Richmond, IN?
For a typical home in Richmond, solar is not worth it at 2026 prices: a 4.4 kW system costs about $14,720 after state incentives, saves about $643 in year one and pays back in about 21 years. Enter your address for an estimate based on your roof and bill.
How much solar power does a system produce in Richmond?
About 1,317 kWh per year for each kW of panels on a south-facing roof, based on PVWatts and local weather. That's 1% less than the Indiana average. East- or west-facing roofs produce roughly 10–20% less.
Who is the electric utility in Richmond?
Most homes in Richmond are served by City of Richmond, at about 13.2¢ per kWh on average. Some areas are served by Duke Energy Indiana, Whitewater Valley Rural EMC.
How much do solar panels cost in Richmond?
A fair cash price is around $3.05 per watt before incentives, so about $14,720 for a 4.4 kW system. There's no federal tax credit for homeowners who buy in 2026.
Nearby
- Muncie 16.5 yrs
- Anderson 16.4 yrs
- Fishers 17.9 yrs
- Lawrence 18 yrs
- Noblesville 17.8 yrs
- Marion 16.7 yrs
- Franklin 17.7 yrs
- Greenwood 17.7 yrs
- All of Indiana
Data: PVWatts (National Laboratory of the Rockies), EIA-861 2025 adjusted to 2026, U.S. Census ACS, LBNL Tracking the Sun, state policy research as of October 2026.