8 Best Solar Companies in Indiana

The Main Types of Residential Solar Systems

The first important decision you'll make when putting together your solar array is what panels to use. There are three main types to choose from, and you can pick which one is best for you considering your budget and the design of your home.

Monocrystalline

In the very hot summers of Indiana, you'll get the best results from monocrystalline panels. Each black-hued cell has only one silicon crystal, meaning you can generate additional energy with a small array. While they cost more in the beginning due to their more complex manufacturing process, their efficiency means you'll save more money over the longer term.

Polycrystalline

You can recognize polycrystalline panels by their navy blue shade. Each cell in these panels uses a composite of multiple silicon fragments, which translates to less manufacturing waste and a lower starting price point.

Although you can build a high-capacity system with polycrystalline panels, it'll have a larger physical footprint when compared to a monocrystalline array at the same capacity.

Thin-film

Thin-film panels are a good choice for value in more "partly sunny" areas of Indiana. They keep their efficiency as temperatures fluctuate and work with many different roof shapes. Thin-film solar panels use various metal alloys instead of silicon crystals. Some homeowners pick them for their reduced weight or ability to fit on non-rectangular roofs. Others select them for their greater heat resistance and low-light performance.

However, they take up more space than monocrystalline or polycrystalline panels, and you might have better-performing options if your property has high solar viability.

Solar Purchase Options

While certain terms may depend on your contractor and model, you may be able to take advantage of these financing tools to keep solar power as affordable as possible:

• Solar leases: If you choose a solar lease, you could pay as little as $0 down, then a variable amount per month based on how much power your panels will produce. Many leases, but not all, will automatically include required maintenance to maximize efficiency. A lessee could also receive compensation for months when their panels don't meet a predicted efficiency benchmark. However, they don't qualify for state or tax incentives and won't increase your property values. If you sell your house, the panel provider will remove the panels unless the buyer wants to continue with the lease.
• Power purchase agreements (PPAs): With a PPA, instead of paying the cost of the panels upfront, you'll pay your installer an agreed amount for the power you generate. Each payment will often be less than what you would pay your utility for the same amount of power. Before you sign a PPA, read the terms thoroughly and ask about what occurs at the end of the contract. If you don't extend the agreement, transfer your system to a willing buyer, or buy the system from the contractor, they reserve the right to remove the panels.
• Financing: Solar loans work like any other kind of financing. You'll have ownership of the system once you pay off the loan, and since you're buying the panels, you can take advantage of tax breaks and other incentives during the payback period. While taking out a solar loan will increase your upfront costs, you'll have better long-term savings.

Besides the price of the panels themselves, your bill will also contain the cost of your contractor's labor and preliminary work done by other contractors. An application fee may be required if you want to participate in net metering.

Residential Solar Incentives and Cost Support

Those electing to install residential solar panels could be entitled to financial incentives or other benefits from their local government or power company, such as:

• Tax credits: Tax credits or temporary exemptions for new solar equipment are common in many U.S. states. Consult with your tax preparer for more specific information on what is available and the forms you should file. No matter what, you should file Form 5695 on your federal returns to apply for a 30% credit on the value of your solar panels.
• Rebates: Equipment manufacturers, utility companies, and governments often offer rebates to encourage people to go solar. If your contractor thinks you'll be eligible for a rebate, it will help you fill out the application. If approved, you could receive the money directly or as a credit on your installation or power bills.
• Net metering: Though many states mandate net metering, others allow utility companies to voluntarily participate to increase their renewable capacity and add an additional layer of energy security. Once you sign up for net metering, you'll send your excess solar power to the local grid. In exchange, your utility will credit you at a retail or avoided-cost rate.
• Net billing: Some utilities and states are retiring net metering for net billing schemes. Fundamentally speaking, both systems work the same. However, with net billing, you sell the energy to your utility company instead of receiving credits for your excess solar generation. Compensation will usually be at a wholesale or avoided-cost rate, which is less than retail.

Solar Energy By the Numbers in Indiana

Here's a brief look at the state of solar energy in Indiana.

• Indiana generates 40 MW of residential solar energy, serving 47,126 homes and counting.
• Solar energy has enabled the creation of 3,600 jobs in Indiana, with more added as companies grow and technology continues to improve.
• In Indiana, the average new home solar array is rated for up to 10.2 kW and costs $25,462.
• A five-kilowatt solar installation in Indiana has an average payback period of 10.4 years. That said, a system at that capacity would also save you $960.99 on your energy bill.
• Without solar, the average family spends about $1,854 every year on their electricity bill.

Useful Resources

Check out these sources to go in-depth on solar policies, incentives, and viability in Indiana:

• The best solar companies in your city: Our team can offer you solar company recommendations for most Indiana cities, such asDATAPOINT_ERR_{top_live_cities(largest_cities, 5)}.
• DSIRE: DSIRE has lots of information on the latest local and statewide solar incentive offerings. Search by your location, utility company, and the type of solar system you're installing.
• PVWatts: Tap into federal energy data and get an idea of your exact property's solar potential.