Best 5 Solar Companies in Lawrence, IN

How To Choose the Best Solar Company in Lawrence

The more thorough your provider search is, the better your solar system will ultimately work. Here are some key items to consider while searching for a solar provider.

Licensing and Training

Indiana does not issue electrical or solar contracting licenses at the state level, but local communities might adopt their own licensing programs. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most trusted trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.

Cost of Solar Panels in Lawrence

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.

If you want to charge an electric vehicle (EV) or use your solar power in inclement weather, you can pay extra for add-ons. By choosing the right components, you can make your panel array more productive and user-friendly. Not every solar provider includes these optional components, so look for a provider that installs them if it's essential for you.

A majority of Lawrence homeowners opt for solar systems rated for five kilowatts (kW) of electrical capacity. These systems cost about $20,500 to set up, considering both parts and installation. You can find more specific solar cost information in the table.

Financing Solar Energy in Lawrence

There are many ways to pay for new solar panels, and the right one will minimize your overhead. A few of the most common options include leases, power purchase agreements (PPAs), loans, and cash payments. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they save you from 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. Similar to 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) enables you to pay a monthly rate based only on the energy you use, akin to an electric bill. We usually don’t recommend these two options because you won't own the system and cannot use solar incentives. Look for companies that offer multiple payment plans to find the right fit for your budget.

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

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.