Solar Panel Cost Guide in Cunningham, IL (2023 Update)
- Cunningham Solar Installation Cost: $12,058
- 25-Year Savings: $11,040
- Payback Period: 13.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cunningham
We go over average solar pricing in Cunningham.
In Cunningham, solar panels cost about 2.73 per watt on average. The average Cunningham homeowner needs a 6.3-kilowatt system, which would cost about $12,058 with the federal tax credit, or $17,243 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. With average savings of about $14,000 on energy bills over 20 years, many homeowners in Cunningham find installing solar panels can pay off big.
Click the button below to get connected to a highly rated solar installer in Cunningham for a customized quote.
Solar savings over time in Cunningham
| Year | Return on Investment |
|---|---|
| 1 years | $-11,134 |
| 3 years | $-9,287 |
| 5 years | $-7,439 |
| 7 years | $-5,591 |
| 9 years | $-3,743 |
| 11 years | $-1,895 |
| 13 years | $-47 |
| 15 years | $1,801 |
| 17 years | $3,649 |
| 19 years | $5,496 |
| 21 years | $7,344 |
| 23 years | $9,192 |
| 25 years | $11,040 |
Top Solar Installers in Cunningham
Putting up solar panels yourself can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. The payback period of solar panels will vary based on factors like your roof configuration and energy usage, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Cunningham
Factors that Affect Solar Panel Costs in Cunningham
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Cunningham: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,730 per kilowatt in Cunningham. The brand of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment consists of more than 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 looking for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Cunningham, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your total costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Cunningham is the company you get to install your solar system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $10,031 | 13.6 years |
| 8 kW | $2.78 | $15,594 | $13,680 | 13.3 years |
| 10 kW | $2.73 | $19,110 | $17,482 | 13.1 years |
| 12 kW | $2.68 | $22,473 | $21,437 | 12.8 years |
| 14 kW | $2.62 | $25,684 | $25,545 | 12.5 years |
| 16 kW | $2.57 | $28,741 | $29,806 | 12.3 years |
| 18 kW | $2.51 | $31,646 | $34,220 | 12.0 years |
| 20 kW | $2.46 | $34,398 | $38,787 | 11.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: The model of solar panel you need plays a role in which company you should choose, since different companies have access to different panels.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: When making the switch to solar energy, it's essential to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Cunningham, IL Solar Cost FAQs
How much does it cost to install solar panels in Cunningham?
This is a tough question to answer exactly, because the cost depends on a variety of 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 other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Cunningham have a net metering program?
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 power 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 larger 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.