Best 4 Solar Companies in Kokomo, IN

How To Choose the Best Solar Company in Kokomo

The purchase price and performance of solar panels often hinge on the solar company that installed them. Here are some important factors to consider while searching for a solar provider.

Licensing and Training

Indiana does not issue electrical or solar contracting licenses at the state level, though localities might adopt their own licensing programs. Solar providers can also obtain accreditations from trade groups and standards organizations. The most respected ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.

Cost of Solar Panels in Kokomo

The style of solar panels you choose decides how much electricity you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.

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

Generally speaking, it costs about $20,500 for a five-kilowatt solar array in Kokomo. This table shows more specific prices for different solar panel types and system components in your area.

Financing Solar Energy in Kokomo

There are a plethora of ways to pay for a solar energy system, and the right one will reduce your expenses. A few of the most common options include loans, cash payments, power purchase agreements (PPAs), and leases. We recommend making a cash payment or securing a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in installments while still benefiting from energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay just for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each installer you're evaluating about the payment plans it offers. A salesperson can help you determine the optimal option for your financial situation.

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

You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. Local and state governments and utility companies might also offer discounts, rebates, and unique financing solutions that could save you more.