Solar Panel Cost Guide in Chillicothe, IL (2024 Update)
- Chillicothe Solar Installation Cost: $16,798
- 25-Year Savings: $7,634
- Payback Period: 21.2 Years
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Average Cost of Solar Panels in Chillicothe
We go over average solar pricing in Chillicothe.
The national average cost of solar panels is $2.66 per watt, but in Chillicothe it’s 4 per watt.To cover the typical energy usage of the average home in Chillicothe, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,798, or $24,021 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.With typical savings of about $12,000 on electricity bills over 20 years, many homeowners in Chillicothe find going solar has a decent ROI.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Chillicothe
| Year | Return on Investment |
|---|---|
| 1 years | $-15,947 |
| 3 years | $-14,246 |
| 5 years | $-12,545 |
| 7 years | $-10,844 |
| 9 years | $-9,142 |
| 11 years | $-7,441 |
| 13 years | $-5,740 |
| 15 years | $-4,038 |
| 17 years | $-2,337 |
| 19 years | $-636 |
| 21 years | $1,065 |
| 23 years | $2,767 |
| 25 years | $4,468 |
Top Solar Installers in Chillicothe
Installing solar panels yourself can be a challenging project, which is why using a solar installation company is a good option for many homeowners. The payback period of solar panels will vary depending on factors like your location and energy use, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you're on the hunt for a solar company in Chillicothe, the EcoWatch team has compiled a list of our top suggestions here:
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 Chillicothe
Factors that Affect Solar Panel Costs in Chillicothe
There are several criteria that can affect your solar system 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 a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need 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 $3,760.The brand and kind 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 often have a higher price tag 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 greater savings over time. Plus, if you want extra equipment 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 Chillicothe to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.Even though solar loans make switching to solar energy more accessible for Chillicothe 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 put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies in Chillicothe, and each can charge varying amounts for labor and equipment.Additionally, some companies in Chillicothe are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.91 | $16,424 | $2,219 | 22.0 years |
| 8 kW | $3.84 | $21,477 | $3,379 | 21.6 years |
| 10 kW | $3.76 | $26,320 | $4,751 | 21.2 years |
| 12 kW | $3.68 | $30,952 | $6,332 | 20.8 years |
| 14 kW | $3.61 | $35,374 | $8,125 | 20.3 years |
| 16 kW | $3.53 | $39,585 | $10,128 | 19.9 years |
| 18 kW | $3.46 | $43,586 | $12,341 | 19.5 years |
| 20 kW | $3.38 | $47,376 | $14,765 | 19.1 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 choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
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 Chillicothe, IL Solar Cost FAQs
How much does it cost to install solar panels in Chillicothe?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
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 the amount of 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 install 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.