Solar Panel Cost Guide in East Lincoln, IL (2023 Update)
- East Lincoln Solar Installation Cost: $12,097
- 25-Year Savings: $7,734
- Payback Period: 15.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in East Lincoln
See how much it might cost to install solar panels in East Lincoln.
The national average cost of solar panels is $2.66 per watt, but in East Lincoln it's 2.73 per watt. The average solar panel system size in East Lincoln is around 6.3 kilowatts, meaning a cost of about $12,097 for a solar installation, or $17,299 before the 30% federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you will vary based on your specific situation and what company you want to go with. Even with the significant initial cost, the average East Lincoln homeowner can save about $12,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free estimate from a highly rated solar installer in East Lincoln, you can click the button below.
Solar savings over time in East Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-11,303 |
| 3 years | $-9,717 |
| 5 years | $-8,131 |
| 7 years | $-6,544 |
| 9 years | $-4,958 |
| 11 years | $-3,371 |
| 13 years | $-1,785 |
| 15 years | $-198 |
| 17 years | $1,388 |
| 19 years | $2,974 |
| 21 years | $4,561 |
| 23 years | $6,147 |
| 25 years | $7,734 |
Top Solar Installers in East Lincoln
When going solar, many homeowners choose to go with a solar installer since putting up a solar system yourself can be a time-consuming project. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for your family.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in East Lincoln:
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 East Lincoln
Factors that Affect Solar Panel Costs in East Lincoln
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in East Lincoln: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in East Lincoln, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the East Lincoln average.
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 East Lincoln, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in East Lincoln is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services for different budgets. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $6,883 | 15.9 years |
| 8 kW | $2.78 | $15,594 | $9,483 | 15.5 years |
| 10 kW | $2.73 | $19,110 | $12,236 | 15.2 years |
| 12 kW | $2.68 | $22,473 | $15,142 | 14.9 years |
| 14 kW | $2.62 | $25,684 | $18,201 | 14.6 years |
| 16 kW | $2.57 | $28,741 | $21,412 | 14.3 years |
| 18 kW | $2.51 | $31,646 | $24,777 | 14.0 years |
| 20 kW | $2.46 | $34,398 | $28,294 | 13.7 years |
How to Save on Solar Panels
There are many companies available in East Lincoln, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: When making the switch to solar power, it's crucial to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: The model of solar panel you want to get plays a role in which company you should choose, since different companies offer different panels.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, make sure to 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 the warranty covers and if there are any guarantees about energy production.
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 East Lincoln, IL Solar Cost FAQs
What is the average cost of installing solar panels in East Lincoln?
The average cost of solar panels in East Lincoln 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 kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in East Lincoln?
You can't get solar panels for free in East Lincoln. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
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 higher 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.