Solar Panel Cost Guide in Coal City, IL (2024 Update)
- Coal City Solar Installation Cost: $16,967
- 25-Year Savings: $10,292
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Coal City
Find out what the average cost of solar panels are in Coal City.
In Coal City, solar panels cost about 4 per watt on average.The average solar panel system size in Coal City is around 6.4 kilowatts, meaning a cost of about $16,967 for a solar installation, or $24,263 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will most likely differ based on the amount of energy your home requires and what company you want to go with.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $13,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Coal City for a quote for your home.
Solar savings over time in Coal City
| Year | Return on Investment |
|---|---|
| 1 years | $-15,811 |
| 3 years | $-13,499 |
| 5 years | $-11,186 |
| 7 years | $-8,874 |
| 9 years | $-6,562 |
| 11 years | $-4,249 |
| 13 years | $-1,937 |
| 15 years | $375 |
| 17 years | $2,688 |
| 19 years | $5,000 |
| 21 years | $7,312 |
| 23 years | $9,625 |
| 25 years | $11,937 |
Top Solar Installers in Coal City
Installing solar panels yourself can be a difficult undertaking, which is why getting a solar installer is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for your family.
If you're searching for a solar company in Coal City, we've put together a list of our top suggestions here:
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
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 Coal City
Factors that Affect Solar Panel Costs in Coal City
While the average cost of a solar system in Coal City is $16,967, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Coal City, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Coal City, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Coal City to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Coal City is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you’ll have many options for solar installers that offer a range of services for different budgets.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $4,622 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,583 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,755 | 18.8 years |
| 12 kW | $3.68 | $30,952 | $11,138 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,732 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,535 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,550 | 17.3 years |
| 20 kW | $3.38 | $47,376 | $22,775 | 16.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: If you’re worried about the durability of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
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
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 Coal City, IL Solar Cost FAQs
How much does it cost to install solar panels in Coal City?
This is a tough question to answer exactly, 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Coal City?
A solar panel system isn’t free in Coal City, 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 help lower the cost.
Does Coal City have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
How long do solar panels last in Coal City?
Although 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 how much 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.