Solar Panel Cost Guide in Caledonia, IL (Mar 2023)
- Caledonia Solar Installation Cost: $12,498
- 25-Year Savings: $12,114
- Payback Period: 12.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Caledonia
Here's how much it might cost to switch to solar power in Caledonia.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Caledonia, the typical cost of a solar system is 2.73 per watt. The average solar panel system size in Caledonia is around 6.5 kilowatts, meaning a cost of about $12,498 for a solar installation, or $17,872 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what company you go with. Despite the high upfront cost, the average Caledonia homeowner can save around $14,000 on their energy bills over 20 years, which is one of the perks of solar.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Caledonia
| Year | Return on Investment |
|---|---|
| 1 years | $-11,513 |
| 3 years | $-9,544 |
| 5 years | $-7,575 |
| 7 years | $-5,607 |
| 9 years | $-3,638 |
| 11 years | $-1,669 |
| 13 years | $300 |
| 15 years | $2,269 |
| 17 years | $4,238 |
| 19 years | $6,207 |
| 21 years | $8,176 |
| 23 years | $10,145 |
| 25 years | $12,114 |
Top Solar Installers in Caledonia
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with a solar company can make your swap to solar power much easier. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Caledonia
Factors that Affect Solar Panel Costs in Caledonia
For many Caledonia homeowners, the decision to install solar panels comes down to 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 a number of factors that significantly 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 going solar. Because of that, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Caledonia, and each can charge different amounts for labor and equipment. Additionally, some companies in Caledonia are more knowledgeable 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 help you save 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 system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which installer you should choose, since different companies have different panels.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Caledonia, IL Solar Cost FAQs
How much does it cost to install solar panels in Caledonia?
This is a tough question to answer exactly, 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. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Caledonia, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Caledonia?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.