6 Best Solar Companies in Indiana

The Main Types of Residential Solar Systems

As you work with your installer to design a solar solution, you'll decide between the three fundamental panel types available. Each type is suitable for different budgets and roof styles, but they all use the same reliable technology to power your home.

Monocrystalline

In the warm 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 more energy with a small array. They're more expensive of the three kinds due to their more elaborate manufacturing process, but you'll ultimately save more due to their higher performance under pressure.

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 maintain 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 greater compatibility with unique roof shapes. Others pick them for their superior 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

Indiana's available solar financing tools have granted more homeowners access to on-site generated energy than in the past. Your contractor might go over the following options with you:

• Solar leases: You can avoid down payments or upfront costs entirely with a solar lease. Instead, you'll pay based on what the provider expects your panels will generate. Leases often include the cost of repairs and scheduled maintenance. If your panels don't reach their efficiency target in a certain month, you could receive a partial reimbursement. Because the lease provider owns the panels, they can take them back if you sell your home. Your property's value won't increase with a lease, and you won't be able to take advantage of most state incentive programs.
• Power purchase agreements (PPAs): With a power purchase agreement, your installer will sell you the power your solar installation generates for the length of the contract duration. In exchange, they'll pay for the cost of the system. Remember that some PPAs can last for 20–25 years. While you can end the PPA by buying the system from the contractor, there may be early termination fees you'll have to pay.
• Solar loans: Most homeowners decide to take out a solar loan, whether through their contractor's partners or their local bank. It's usually quicker to repay a loan than to complete a PPA. Further, because you're purchasing rather than leasing, you can apply for incentives and special offers from your utility or local government. Keep in mind that the specific terms of a solar loan will often depend on on your credit score.

Your final bill will factor in the cost of the panels, your installer's labor, subcontracted electrical, plumbing, and roofing work, and application fees if you're connecting your panels to the grid. Each financing option is usually all-inclusive.

Residential Solar Incentives and Cost Support

State governments and utility companies reward going solar through a variety of different programs, like:

• Tax credits: Tax credits or temporary exemptions for new solar equipment are common in many U.S. jurisdictions. Consult with your tax preparer for more detailed information on what is available and the forms you need to file. Remember that 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: Contractors and governments often work with utility companies and equipment manufacturers, offering rebates to promote people to go solar. If your contractor thinks you qualify for a rebate, it will help you fill out the application. If approved, you could get 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 extra layer of energy security. Once you enroll in 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 electrical co-ops have switched from net metering to net billing. Net billing participants sell their excess generation wholesale, with small houses receiving compensation at the same rate as large solar farms.

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, reaching 47,126 homes and growing.
• 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 energy bill.

Useful Resources

If you'd like to learn more about solar energy in your area, take a look at these pages and resources:

• The best solar companies in your city: Our team can offer you solar company recommendations for most Indiana cities, such as INDIANAPOLIS,IN, FORT WAYNE,IN, EVANSVILLE,IN, SOUTH BEND,IN and CARMEL,IN.
• DSIRE: One of the most comprehensive solar incentive databases available is DSIRE. You can find a tailored list of rebates based on your address, power company, and the type of solar system you're installing. Remember that these programs change as policymakers update their budgets and targets. Don't forget to ask your contractor about the incentive programs they participate in and which others you might qualify for.
• PVWatts: Tap into federal energy data and get an idea of your exact property's solar potential.