Solar Panel Cost Guide in Coal Valley, IL (2025 Update)
- Coal Valley Solar Installation Cost: $16,986
- 25-Year Savings: $7,454
- Payback Period: 21.5 Years
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Average Cost of Solar Panels in Coal Valley
Let’s have a look at the average cost of solar in Coal Valley.
The average cost of a solar system in Coal Valley is 4 per watt.To cover the typical energy usage of the average home in Coal Valley, most homeowners require a 6.5-kilowatt system. Using the figure above, a solar installation costs about $16,986, or $24,290 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of equipment you want to get, your solar contractor and more.With average savings of about $12,000 on utility bills over 20 years, many homeowners in Coal Valley find installing solar panels can be quite rewarding.
You can click the button below to get connected with a pre-vetted solar company in Coal Valley that can help you get a more accurate cost estimate for your home.
Solar savings over time in Coal Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-16,145 |
| 3 years | $-14,463 |
| 5 years | $-12,781 |
| 7 years | $-11,099 |
| 9 years | $-9,417 |
| 11 years | $-7,735 |
| 13 years | $-6,053 |
| 15 years | $-4,371 |
| 17 years | $-2,689 |
| 19 years | $-1,007 |
| 21 years | $675 |
| 23 years | $2,357 |
| 25 years | $4,039 |
Top Solar Installers in Coal Valley
Trying to install solar panels yourself can be a dangerous undertaking, which is why using a solar installation company is a good option for many homeowners. Another benefit of going with a solar company is that they can help you optimize your return of investment by cutting back on future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
If you're on the hunt for a solar company in Coal Valley, the EcoWatch team has put together a list of our top suggestions here:
See all of the solar companies in Coal Valley
Factors that Affect Solar Panel Costs in Coal Valley
For many Coal Valley homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Coal Valley, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,760. There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Coal Valley, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Coal Valley know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $3.91 | $16,424 | $1,972 | 22.3 years |
| 8 kW | $3.84 | $21,477 | $3,051 | 21.9 years |
| 10 kW | $3.76 | $26,320 | $4,340 | 21.5 years |
| 12 kW | $3.68 | $30,952 | $5,839 | 21.0 years |
| 14 kW | $3.61 | $35,374 | $7,549 | 20.6 years |
| 16 kW | $3.53 | $39,585 | $9,470 | 20.2 years |
| 18 kW | $3.46 | $43,586 | $11,602 | 19.7 years |
| 20 kW | $3.38 | $47,376 | $13,943 | 19.3 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you need to install plays a role in which company you should choose, since different companies offer different panels.
- Contract: Before signing a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
EcoWatch's Coal Valley, IL Solar Cost FAQs
How much does it cost to install solar panels in Coal Valley?
The average cost of solar panels in Coal Valley is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Coal Valley?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels completely eradicate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Coal Valley, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.