Solar Panel Cost Guide in Capital, IL (2023 Update)
- Capital Solar Installation Cost: $11,944
- 25-Year Savings: $14,638
- Payback Period: 11.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Capital
See how much it might cost to go solar in Capital.
In Capital, solar panels cost about 2.73 per watt on average. The average solar panel system size in Capital is around 6.2 kilowatts, meaning a cost of about $11,944 for a solar installation, or $17,080 before the 30% federal solar tax credit is applied.
The actual price you pay can go above or below the average in Capital based on a few factors, such as the kind of solar panels you choose and the solar installer you hire. For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $16,000 in savings on utility bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Capital
| Year | Return on Investment |
|---|---|
| 1 years | $-10,880 |
| 3 years | $-8,754 |
| 5 years | $-6,628 |
| 7 years | $-4,501 |
| 9 years | $-2,374 |
| 11 years | $-248 |
| 13 years | $1,878 |
| 15 years | $4,005 |
| 17 years | $6,132 |
| 19 years | $8,258 |
| 21 years | $10,384 |
| 23 years | $12,511 |
| 25 years | $14,638 |
Top Solar Installers in Capital
Although it's possible to install solar panels on your own, it requires extra time and expertise. For that reason, most homeowners choose a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be right for your family.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Capital
Factors that Affect Solar Panel Costs in Capital
There are a number of criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,730. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
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 offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. You'll have to consider the long-term cost of loans, 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 original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you select will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Capital are more knowledgeable about local solar incentives and can help you learn about 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 | $13,576 | 11.7 years |
| 8 kW | $2.78 | $15,594 | $18,407 | 11.5 years |
| 10 kW | $2.73 | $19,110 | $23,392 | 11.2 years |
| 12 kW | $2.68 | $22,473 | $28,529 | 11.0 years |
| 14 kW | $2.62 | $25,684 | $33,818 | 10.8 years |
| 16 kW | $2.57 | $28,741 | $39,261 | 10.6 years |
| 18 kW | $2.51 | $31,646 | $44,857 | 10.3 years |
| 20 kW | $2.46 | $34,398 | $50,605 | 10.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: The type of solar panel you need to get plays a part in which company you should opt for, since different companies offer different panels.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 Capital, IL Solar Cost FAQs
What is the average cost of installing solar panels in Capital?
The average cost of solar panels in Capital 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Capital?
You can't get solar panels for free in Capital. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Capital?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.