Solar Panel Cost Guide in Capital, IL (2024 Update)
- Capital Solar Installation Cost: $16,461
- 25-Year Savings: $14,630
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Capital
See how much it might cost to go solar in Capital.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Capital, the average cost of a solar system is 4 per watt.The average Capital homeowner needs a 6.3-kilowatt system, which would cost about $16,461 with the federal tax credit, or $23,539 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Capital depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $16,000 over 20 years on electricity bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Capital
| Year | Return on Investment |
|---|---|
| 1 years | $-15,500 |
| 3 years | $-13,579 |
| 5 years | $-11,658 |
| 7 years | $-9,736 |
| 9 years | $-7,815 |
| 11 years | $-5,894 |
| 13 years | $-3,972 |
| 15 years | $-2,051 |
| 17 years | $-130 |
| 19 years | $1,792 |
| 21 years | $3,713 |
| 23 years | $5,634 |
| 25 years | $7,556 |
Top Solar Installers in Capital
Although it's possible to install solar panels yourself, it requires extra energy and know-how. For that reason, most people choose to hire a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for you.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Capital
Factors that Affect Solar Panel Costs in Capital
The cost of installing a solar system in Capital can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. 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.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Capital average.
Solar Financing Terms
Many homeowners find the average cost of solar in Capital to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest.While solar loans make adopting solar energy more accessible for Capital homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can affect how much you pay. Capital’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $9,077 | 16.1 years |
| 8 kW | $3.84 | $21,477 | $12,524 | 15.8 years |
| 10 kW | $3.76 | $26,320 | $16,182 | 15.5 years |
| 12 kW | $3.68 | $30,952 | $20,050 | 15.2 years |
| 14 kW | $3.61 | $35,374 | $24,128 | 14.9 years |
| 16 kW | $3.53 | $39,585 | $28,417 | 14.6 years |
| 18 kW | $3.46 | $43,586 | $32,917 | 14.2 years |
| 20 kW | $3.38 | $47,376 | $37,627 | 13.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The brand of solar panel you want plays a role in which installer you should opt for, since different companies offer different panels.
- Installation Process: When making the switch to solar, it’s important to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the project completion timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Capital, IL Solar Cost FAQs
How much does it cost to install solar panels in Capital?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Capital?
A solar panel system isn’t free in Capital, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on electricity bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Capital, that will require at least a 10-kW system. Not all homes can accommodate 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 many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.