Solar Panel Cost Guide in Cahokia, IL (2023 Update)
- Cahokia Solar Installation Cost: $11,619
- 25-Year Savings: $12,353
- Payback Period: 12.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cahokia
Find out what the average cost of solar panel installation is in Cahokia.
In Cahokia, solar panels cost about 2.73 per watt on average. The average Cahokia homeowner needs a 6.1-kilowatt system, which would cost about $11,619 with the federal tax credit, or $16,615 before the 30% tax credit is applied.
The true price you pay can go above or below the average in Cahokia based on a few factors, such as the type of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Cahokia
| Year | Return on Investment |
|---|---|
| 1 years | $-10,660 |
| 3 years | $-8,742 |
| 5 years | $-6,824 |
| 7 years | $-4,907 |
| 9 years | $-2,989 |
| 11 years | $-1,071 |
| 13 years | $847 |
| 15 years | $2,764 |
| 17 years | $4,682 |
| 19 years | $6,600 |
| 21 years | $8,518 |
| 23 years | $10,436 |
| 25 years | $12,353 |
Top Solar Installers in Cahokia
Although it's possible to install solar panels by yourself, it involves extra time and knowledge. Because of that, the majority of homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be invaluable as well, particularly if you aren't sure what type of solar equipment you need.
If you're looking for a solar installer in Cahokia, the EcoWatch team has organized 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 Cahokia
Factors that Affect Solar Panel Costs in Cahokia
Even though the average cost of a solar system in Cahokia is $11,619, your final cost may differ. There are quite a few 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 consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. The brand of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Cahokia homeowners choose to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Cahokia, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. 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 cost more. It's best to do some research and decide on the company that provides the products, warranties and services you want and also is 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 | $11,736 | 12.6 years |
| 8 kW | $2.78 | $15,594 | $15,954 | 12.4 years |
| 10 kW | $2.73 | $19,110 | $20,325 | 12.1 years |
| 12 kW | $2.68 | $22,473 | $24,848 | 11.9 years |
| 14 kW | $2.62 | $25,684 | $29,525 | 11.6 years |
| 16 kW | $2.57 | $28,741 | $34,354 | 11.4 years |
| 18 kW | $2.51 | $31,646 | $39,337 | 11.1 years |
| 20 kW | $2.46 | $34,398 | $44,472 | 10.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: Before you sign a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Well-established companies likely have a high 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: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
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 Cahokia, IL Solar Cost FAQs
What is the average cost of installing solar panels in Cahokia?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Cahokia?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.