18 Best Solar Companies in Indianapolis, IN (Mar 2023 Review)

The Cost and Benefits of Solar in Indianapolis

Even though solar panels can help save you a good amount of money on energy bills over time, it's necessary to know the upfront costs. The overall price and potential savings vary depending on some important factors such as:

• The amount of sunlight your roof gets: Thanks to Indianapolis' high amount of average daily sunlight, you should be able to save a decent amount on your power bills.
• Your home's power bills: Due to very high monthly electric bills in Indianapolis, you could save about $1,500 a year with solar.
• Incentives: Tax-paying citizens who purchase and install a solar system this year can save 30% of their solar installation costs by taking advantage of the federal solar investment tax credit. You can also save about $17,000 on your utility bills over 20 years without incentives.
• Choice of solar panels: The type of solar panels you want will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also lead to more savings over the lifetime of your system. If space isn't a constraint for your project, you can opt for a higher number of more affordable panels.

Thanks to solar panels now being cheaper than ever as well as various solar incentives, they are a worthwhile investment for the majority of homeowners.

Solar Incentives in Indianapolis

Although a solar power system is typically a $15,000 to $25,000 investment, it can save you a lot of money over many years due to lower utility bills and government incentives. When you install a solar panel system on your home, you become eligible to claim the federal tax credit, or ITC. This credit currently lets you lower your tax bill by 30% of the cost of your solar panels. Plus, there may often be some local incentives that you can use to further save. Take a look at our article on solar incentives to learn what incentives you can benefit from.

Environmental Impact of Switching to Solar in Indianapolis

Installing solar panels can have a positive impact on the environment. Something many homeowners might be asking themselves is how much can they really help the environment by going solar anyway? Your energy usage is a significant factor to keep in mind. The more energy your household consumes, the greater your impact when you switch to solar energy. Since solar panels don't release carbon dioxide emissions into the atmosphere when generating electricity, they're a good alternative to traditional energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 90 pounds each year. If you want to do your part for the environment, you'll no doubt recognize that there are many good things about adopting solar energy other than just saving money on electricity. You can also help protect the environment, which some would argue is invaluable.