Solar Panel Cost Guide in Caledonia, IL (2023 Update)
- Caledonia Solar Installation Cost: $12,489
- 25-Year Savings: $12,123
- Payback Period: 12.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Caledonia
We go over average solar pricing in Caledonia.
The national average cost of solar panels is $2.66 per watt, but in Caledonia it's 2.73 per watt. Using this figure, a typical 6.5-kW system would cost about $12,498 before the 30% federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Caledonia depending on a few factors, such as the type of solar panels you choose and the solar installer you hire. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Caledonia can save around $14,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Caledonia
| Year | Return on Investment |
|---|---|
| 1 years | $-12,407 |
| 3 years | $-12,243 |
| 5 years | $-12,079 |
| 7 years | $-11,915 |
| 9 years | $-11,751 |
| 11 years | $-11,587 |
| 13 years | $-11,423 |
| 15 years | $-11,259 |
| 17 years | $-11,095 |
| 19 years | $-10,931 |
| 21 years | $-10,767 |
| 23 years | $-10,602 |
| 25 years | $-10,438 |
Top Solar Installers in Caledonia
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make your swap to solar power much easier. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Caledonia
Factors that Affect Solar Panel Costs in Caledonia
For many Caledonia homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Caledonia, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The model of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, 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 looking into a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Caledonia provide solar loans, which reduce your upfront costs of installing solar. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Caledonia is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that provide a range of services at different price points. Additionally, some companies in Caledonia know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $10,671 | 13.2 years |
| 8 kW | $2.78 | $15,594 | $14,533 | 12.9 years |
| 10 kW | $2.73 | $19,110 | $18,549 | 12.7 years |
| 12 kW | $2.68 | $22,473 | $22,717 | 12.4 years |
| 14 kW | $2.62 | $25,684 | $27,039 | 12.2 years |
| 16 kW | $2.57 | $28,741 | $31,513 | 11.9 years |
| 18 kW | $2.51 | $31,646 | $36,140 | 11.7 years |
| 20 kW | $2.46 | $34,398 | $40,920 | 11.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Caledonia, IL Solar Cost FAQs
What is the average cost of installing solar panels in Caledonia?
The average cost of solar panels in Caledonia 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 things like the model 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 Caledonia?
Leasing solar panels can be an option if you are unable 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 home 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 having solar panels impact how much my home is worth?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can 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 install between 20 and 35 panels to cover 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.