Solar Panel Cost Guide in Collinsville, IL (2023 Update)
- Collinsville Solar Installation Cost: $11,690
- 25-Year Savings: $8,140
- Payback Period: 14.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Collinsville
We break down average solar pricing in Collinsville.
While the national average of solar panels is $2.66 per watt, solar panels in Collinsville generally cost around 2.73. The average Collinsville homeowner needs a 6.1-kilowatt system, which would cost about $11,695 with the federal tax credit, or $16,724 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary depending on a few factors, such as what size system you need, your energy usage and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Collinsville see about $12,000 in savings on electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Collinsville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,624 |
| 3 years | $-11,492 |
| 5 years | $-11,360 |
| 7 years | $-11,228 |
| 9 years | $-11,095 |
| 11 years | $-10,963 |
| 13 years | $-10,831 |
| 15 years | $-10,699 |
| 17 years | $-10,567 |
| 19 years | $-10,434 |
| 21 years | $-10,302 |
| 23 years | $-10,170 |
| 25 years | $-10,038 |
Top Solar Installers in Collinsville
Many homeowners choose to hire a solar panel installer since trying to put up solar panels yourself can be time-consuming. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't sure which solar panel installer to go with, here are our suggestions 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 Collinsville
Factors that Affect Solar Panel Costs in Collinsville
The cost of installing a solar system in Collinsville can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important 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 pay around $2,730 per kilowatt in Collinsville. The brand of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Collinsville, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. 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 more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Collinsville is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that provide a range of services at different price points. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also fits within your budget.
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 | $7,525 | 15.3 years |
| 8 kW | $2.78 | $15,594 | $10,339 | 15.0 years |
| 10 kW | $2.73 | $19,110 | $13,306 | 14.7 years |
| 12 kW | $2.68 | $22,473 | $16,426 | 14.4 years |
| 14 kW | $2.62 | $25,684 | $19,698 | 14.1 years |
| 16 kW | $2.57 | $28,741 | $23,124 | 13.9 years |
| 18 kW | $2.51 | $31,646 | $26,702 | 13.6 years |
| 20 kW | $2.46 | $34,398 | $30,434 | 13.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which installer you should choose, since different companies offer different panels.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Collinsville, IL Solar Cost FAQs
What is the average cost of installing solar panels in Collinsville?
The average cost of solar panels in Collinsville is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Collinsville?
Solar panels aren't free in Collinsville, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Collinsville?
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 utility bills.
How long do solar panels last in Collinsville?
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 their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.