Best 4 Solar Companies in Bloomington, IN

How To Choose the Best Solar Company in Bloomington

Choosing a company is the first step toward an effective and cost-efficient solar energy system. Consider each of these criteria in your contractor search.

Licensing and Training

In Indiana, there are no electrical or solar contracting licenses at the state level, but localities might adopt their own licensing programs. You should also visit a company's website to learn about its private credentials. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, backed by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.

Cost of Solar Panels in Bloomington

Your solar panels' type will affect how much power you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.

Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar providers include these additional features, so look for a company that installs them if it's important for you.

If you're a resident of Bloomington and are considering getting a five-kilowatt solar energy system, you could expect to pay about $20,500 for parts and installation. Find more information on specific component and solar panel costs in the table.

Financing Solar Energy in Bloomington

There are many ways to pay for a new solar system, and the right one will lower your costs. A few of the most common options include cash payments, loans, leases, and power purchase agreements (PPAs). Though it involves a large up-front payment, cash is the most economical choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the next best option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a variable rate based on only the energy you use. We generally advise against these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in particular circumstances. We suggest working with a provider that offers multiple financing options. Talk to each representative about what's available, and obtain more than one estimate for the best odds of keeping within your financial plan.

The table below lists the average payback periods for different capacities of solar systems in Bloomington.

You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans that could reduce your total cost even more.