Solar Panel Cost Guide in Chillicothe, IL (2023 Update)
- Chillicothe Solar Installation Cost: $12,197
- 25-Year Savings: $7,634
- Payback Period: 15.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Chillicothe
See how much it might cost to install solar panels in Chillicothe.
Although the national average of solar panels is $2.66 per watt, solar panels in Chillicothe typically cost around 2.73. Since a 6.4-kW system is needed to cover the energy needs of a typical home in Chillicothe, the average price of going solar will be about $12,192 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Chillicothe homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Even with the large initial cost, the average Chillicothe homeowner can save around $12,000 on their power bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a vetted solar panel company in Chillicothe for a personalized quote.
Solar savings over time in Chillicothe
| Year | Return on Investment |
|---|---|
| 1 years | $-11,346 |
| 3 years | $-9,645 |
| 5 years | $-7,943 |
| 7 years | $-6,242 |
| 9 years | $-4,541 |
| 11 years | $-2,839 |
| 13 years | $-1,138 |
| 15 years | $563 |
| 17 years | $2,264 |
| 19 years | $3,966 |
| 21 years | $5,667 |
| 23 years | $7,368 |
| 25 years | $9,070 |
Top Solar Installers in Chillicothe
When going solar, many homeowners opt to go with a solar installer since putting up a solar system yourself can be a difficult project. Plus, if you're unsure what type of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
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 Chillicothe
Factors that Affect Solar Panel Costs in Chillicothe
For many Chillicothe homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Chillicothe, with typical prices between $20,000 to $40,000. There are numerous 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. That's why it's crucial 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 panels and equipment you want is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Chillicothe, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's wise to factor 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 off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Chillicothe is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services for different budgets. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $6,718 | 16.0 years |
| 8 kW | $2.78 | $15,594 | $9,263 | 15.7 years |
| 10 kW | $2.73 | $19,110 | $11,961 | 15.4 years |
| 12 kW | $2.68 | $22,473 | $14,811 | 15.1 years |
| 14 kW | $2.62 | $25,684 | $17,815 | 14.8 years |
| 16 kW | $2.57 | $28,741 | $20,972 | 14.5 years |
| 18 kW | $2.51 | $31,646 | $24,281 | 14.1 years |
| 20 kW | $2.46 | $34,398 | $27,743 | 13.8 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Reputation: Your solar installer should have a solid 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 satisfied reviews from past customers.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Chillicothe, IL Solar Cost FAQs
What is the average cost of installing solar panels in Chillicothe?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, 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 things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Chillicothe?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How often do you have to replace solar panels?
On average, solar panels can last 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.