Solar Panel Cost Guide in East Alton, IL (2023 Update)
- East Alton Solar Installation Cost: $11,695
- 25-Year Savings: $11,078
- Payback Period: 12.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in East Alton
Here's how much it might cost to install solar panels in East Alton.
While the national average of solar panels is $2.66 per watt, solar panels in East Alton typically cost around 2.73. The average East Alton 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.
Keep in mind that the figures above are only estimates based on the average energy use of East Alton homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on energy bills.
Click the button below to get connected to a highly rated solar installer in your area for a personalized estimate.
Solar savings over time in East Alton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,784 |
| 3 years | $-8,962 |
| 5 years | $-7,141 |
| 7 years | $-5,319 |
| 9 years | $-3,497 |
| 11 years | $-1,675 |
| 13 years | $147 |
| 15 years | $1,969 |
| 17 years | $3,791 |
| 19 years | $5,613 |
| 21 years | $7,434 |
| 23 years | $9,256 |
| 25 years | $11,078 |
Top Solar Installers in East Alton
Installing solar panels on your own can be a difficult task, which is why getting a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your location and energy consumption, but working with a solar installer can shorten it. 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 (coming 2022)
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 East Alton
Factors that Affect Solar Panel Costs in East Alton
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in East Alton: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions 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 falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid choice because they decrease your upfront costs and let you 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 financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in East Alton, and each can charge varying amounts for labor and equipment. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $10,412 | 13.3 years |
| 8 kW | $2.78 | $15,594 | $14,188 | 13.1 years |
| 10 kW | $2.73 | $19,110 | $18,117 | 12.8 years |
| 12 kW | $2.68 | $22,473 | $22,199 | 12.6 years |
| 14 kW | $2.62 | $25,684 | $26,434 | 12.3 years |
| 16 kW | $2.57 | $28,741 | $30,822 | 12.1 years |
| 18 kW | $2.51 | $31,646 | $35,363 | 11.8 years |
| 20 kW | $2.46 | $34,398 | $40,056 | 11.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 East Alton, IL Solar Cost FAQs
How much does it cost to install solar panels in East Alton?
The average cost of solar panels in East Alton 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 consume.
Should I lease or buy solar panels in East Alton?
Leasing solar panels can be an attractive 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in East Alton is currently $92,937, so you can expect a value of about $3,810 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in East Alton is a rewarding investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 amount 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.