Solar Panel Cost Guide in Coal City, IL (Feb 2023)
- Coal City Solar Installation Cost: $12,326
- 25-Year Savings: $10,286
- Payback Period: 13.6 Years
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Top Solar Installers in Coal City
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make swapping over to solar power much easier. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
If you're on the hunt for a solar company in Coal City, the EcoWatch team has put together a list of our top suggestions here:
See all of the solar companies in Coal City
Factors that Affect Solar Panel Costs in Coal City
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Coal City: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Coal City. The brand and kind of equipment you get for your solar system can raise or lower 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Coal City to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. However, the interest on solar loans also adds to your total costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Coal City, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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||$9,121||14.2 years|
|8 kW||$2.78||$15,594||$12,467||13.9 years|
|10 kW||$2.73||$19,110||$15,965||13.6 years|
|12 kW||$2.68||$22,473||$19,617||13.3 years|
|14 kW||$2.62||$25,684||$23,422||13.1 years|
|16 kW||$2.57||$28,741||$27,379||12.8 years|
|18 kW||$2.51||$31,646||$31,490||12.5 years|
|20 kW||$2.46||$34,398||$35,753||12.3 years|
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
EcoWatch's Coal City, IL Solar Cost FAQs
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.