Solar Panel Cost Guide in Beardstown, IL (2023 Update)
- Beardstown Solar Installation Cost: $12,001
- 25-Year Savings: $19,014
- Payback Period: 9.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Beardstown
Find out what the average cost of installing solar panels is in Beardstown.
The average cost of a solar system in Beardstown is 2.73 per watt. The average solar panel system size in Beardstown is around 6.3 kilowatts, meaning a cost of about $12,001 for a solar installation, or $17,161 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more. For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Beardstown see about $19,000 in savings on utility bills over 20 years.
Click the button below to get connected to a highly rated solar company in Beardstown for a custom estimate.
Solar savings over time in Beardstown
| Year | Return on Investment |
|---|---|
| 1 years | $-10,760 |
| 3 years | $-8,279 |
| 5 years | $-5,798 |
| 7 years | $-3,317 |
| 9 years | $-836 |
| 11 years | $1,646 |
| 13 years | $4,127 |
| 15 years | $6,608 |
| 17 years | $9,089 |
| 19 years | $11,571 |
| 21 years | $14,052 |
| 23 years | $16,533 |
| 25 years | $19,014 |
Top Solar Installers in Beardstown
Many homeowners decide to hire a solar installer since trying to install solar panels by yourself can be a labor-intensive endeavor. Companies can also have access to various kinds of the best solar panels and help you choose which one will be right for your home.
If you're on the hunt for a solar company in Beardstown, we've put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Beardstown
Factors that Affect Solar Panel Costs in Beardstown
Even though the average cost of a solar system in Beardstown is $12,001, your final cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Beardstown. The model of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Beardstown to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can influence your pricing. Beardstown's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you want and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.84 | $11,925 | $17,705 | 10.1 years |
| 8 kW | $2.78 | $15,594 | $23,913 | 9.9 years |
| 10 kW | $2.73 | $19,110 | $30,274 | 9.7 years |
| 12 kW | $2.68 | $22,473 | $36,787 | 9.5 years |
| 14 kW | $2.62 | $25,684 | $43,453 | 9.3 years |
| 16 kW | $2.57 | $28,741 | $50,272 | 9.1 years |
| 18 kW | $2.51 | $31,646 | $57,244 | 8.9 years |
| 20 kW | $2.46 | $34,398 | $64,369 | 8.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Beardstown, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Before you sign a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: The model of solar panel you need to get plays a role in which company you should choose, since different companies have access to different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Beardstown, IL Solar Cost FAQs
How much does it cost to install solar panels in Beardstown?
The average cost of solar panels in Beardstown is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Beardstown?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will installing solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Beardstown is currently $75,800, so you can look forward to a value of about $3,108 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Beardstown is a fruitful investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.