Best 5 Solar Companies in New Albany, IN

How To Choose the Best Solar Company in New Albany

The cost and effectiveness of solar panels often depend on the solar company that installed them. Make your choice based on the following key factors.

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 companies can also pursue certifications from standards organizations and trade groups. The most prestigious 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 New Albany

The kind of solar panels you select decides how much power you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. 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.

You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can improve your solar system's efficiency. Not all solar providers offer these additional features, so look for a provider that sells them if it's important for you.

You can plan to spend about $20,500 on average for a five-kilowatt solar energy system in New Albany. Check the table in this section to get an idea of the amount New Albany solar companies might quote for your specific solar system's price.

Financing Solar Energy in New Albany

Solar companies offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar loans, power purchase agreements (PPAs), solar leases and cash payments. Most solar experts recommend paying cash or using a solar loan. Cash payments require 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 an auto or home loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. We advise working with an installer that offers multiple financing options. Speak with each agent about what's available, and secure more than one estimate for the best odds of keeping within your spending limits.

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

A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Additional incentives may be available through city and state governments, usually in the form of rebates and special financing programs.