Indiana Michigan Power and solar
Indiana Michigan Power is an investor-owned utility serving about 537,980 homes in Indiana, Michigan. Here's what its rates and export rules mean for solar: for a typical customer, solar is not worth it.
- Average price (2026 est.)
- 18.2¢8% above Indiana average
- Typical bill
- $155848 kWh a month
- Exports credited
- ~22%Reduced export credit
- Typical payback
- 16.8 yrs3.9 kW, cash
Export rules for Indiana Michigan Power customers
Reduced export credit, instantaneous netting.
EDG rider; rate not verified.
Solar for a typical Indiana Michigan Power home
| System | 3.9 kW (50% of 848 kWh/month) |
|---|---|
| Cost | $13,445 |
| First-year savings | $734 |
| Payback | 16.8 years |
| 25-year net | $9,420 |
Uses the utility's average price.
Solar adoption
- Homes with solar (2025)
- 2,346
- Share of customers
- 0.4%
- Residential solar capacity
- 20 MW
- Residential customers
- 537,980
EIA-861, 2025.
Questions about Indiana Michigan Power and solar
Does Indiana Michigan Power have net metering?
EDG rider; rate not verified.
How much does electricity cost with Indiana Michigan Power?
Residential customers paid an average of 17.2¢ per kWh in 2025 (EIA), about 18.2¢ adjusted to 2026. The typical home uses 848 kWh a month, a bill of about $155.
Is solar worth it with Indiana Michigan Power?
For a typical customer, solar is not worth it: a 3.9 kW system costing about $13,445 pays back in about 16.8 years, with $9,420 net over 25 years.
How many Indiana Michigan Power customers have solar?
About 2,346 homes had net-metered solar at the end of 2025, roughly 0.4% of residential customers (EIA-861).
Legal name: Indiana Michigan Power Co (EIA ID 9324). Data: EIA-861 2025 and monthly data through 2026, state policy research October 2026.