Solar Panel Cost Guide in Bloomington City, IL (2023 Update)
- Bloomington City Solar Installation Cost: $12,116
- 25-Year Savings: $11,100
- Payback Period: 13.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bloomington City
Find out what the average cost of solar panel installation is in Bloomington City.
The average cost of solar panels in Bloomington City is 2.73 per watt. The average solar panel system size in Bloomington City is around 6.3 kilowatts, meaning a cost of about $12,116 for a solar installation, or $17,326 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Bloomington City can save around $14,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Bloomington City for a quote for your home.
Solar savings over time in Bloomington City
| Year | Return on Investment |
|---|---|
| 1 years | $-11,187 |
| 3 years | $-9,330 |
| 5 years | $-7,473 |
| 7 years | $-5,615 |
| 9 years | $-3,758 |
| 11 years | $-1,901 |
| 13 years | $-44 |
| 15 years | $1,814 |
| 17 years | $3,671 |
| 19 years | $5,528 |
| 21 years | $7,385 |
| 23 years | $9,243 |
| 25 years | $11,100 |
Top Solar Installers in Bloomington City
When going solar, many homeowners prefer to go with a solar installation company since installing a solar system yourself can be a challenging project. Another good thing about choosing a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
If you'd like to make the switch to solar but still aren't certain which solar panel installer to go with, here are our recommendations for providers near you:
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 Bloomington City
Factors that Affect Solar Panel Costs in Bloomington City
The cost of installing a solar system in Bloomington City can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Bloomington City, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Bloomington City, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. Even though solar loans make going solar more accessible for Bloomington City homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Bloomington City is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that provides 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 | $10,039 | 13.6 years |
| 8 kW | $2.78 | $15,594 | $13,691 | 13.3 years |
| 10 kW | $2.73 | $19,110 | $17,496 | 13.1 years |
| 12 kW | $2.68 | $22,473 | $21,454 | 12.8 years |
| 14 kW | $2.62 | $25,684 | $25,564 | 12.5 years |
| 16 kW | $2.57 | $28,741 | $29,828 | 12.3 years |
| 18 kW | $2.51 | $31,646 | $34,244 | 12.0 years |
| 20 kW | $2.46 | $34,398 | $38,814 | 11.7 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Solar Panel Brands: The kind of solar panel you need plays a part in which company you should choose, since different companies have different panels.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Bloomington City, IL Solar Cost FAQs
What is the average cost of installing solar panels in Bloomington City?
The average cost of solar panels in Bloomington City is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Bloomington City?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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.