Best 5 Solar Companies in Carmel, IN

How To Choose the Best Solar Company in Carmel

The purchase price and efficacy of solar panels often depend on the solar company that installed them. Consider each of these aspects in your contractor search.

Licensing and Training

In Indiana, there are no electrical or solar contracting licenses at the state level, but local communities might adopt their own licensing programs. Solar providers can also earn accreditations from trade groups and standards organizations. The top ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.

Cost of Solar Panels in Carmel

Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.

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

If you're a resident of Carmel and want a five-kilowatt solar energy system, you could expect to pay about $20,500 for materials and labor. Find more information on specific component and solar panel costs in the table.

Financing Solar Energy in Carmel

There are numerous ways to pay for a solar energy system, and the right one will lower your costs. A few of the most common options include loans, cash payments, leases, and power purchase agreements (PPAs). Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a home or car loan, you'll pay a set monthly rate with potentially $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) allows you to pay a monthly rate determined by the energy you use, like an electric bill. We typically don’t recommend these two options because you won't own the solar system and are disqualified from using solar incentives. Ask each installer you're evaluating about the payment options it offers. A consultant can help you determine the best option for your budget.

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

The IRS allows you to claim a 26% federal solar tax credit on the full cost of the solar system, so long as you purchase it before 2032. Local governments and utilities might also offer their own rebates, financing programs, and incentives that could save you more money.