Solar Panel Cost Guide in East Moline, IL (2024 Update)
- East Moline Solar Installation Cost: $16,986
- 25-Year Savings: $6,666
- Payback Period: 20.9 Years
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Average Cost of Solar Panels in East Moline
Let’s have a look at the average cost of solar in East Moline.
In East Moline, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in East Moline, most homeowners require a 6.5-kilowatt system. Using the figure above, a solar installation costs around $16,986, or $24,290 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of East Moline homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find going solar is a fruitful investment. The average homeowner in East Moline can save around $12,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in East Moline that can help you get a more accurate cost estimate for your home.
Solar savings over time in East Moline
Year | Return on Investment |
---|---|
1 years | $-16,040 |
3 years | $-14,148 |
5 years | $-12,256 |
7 years | $-10,363 |
9 years | $-8,471 |
11 years | $-6,579 |
13 years | $-4,687 |
15 years | $-2,795 |
17 years | $-903 |
19 years | $989 |
21 years | $2,881 |
23 years | $4,773 |
25 years | $6,666 |
Top Solar Installers in East Moline
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar panel installer can make converting to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you go with a solar company as well, which can save you more money over time.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Moline
Factors that Affect Solar Panel Costs in East Moline
The cost of installing a solar system in East Moline can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,760. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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, add-on products, such as solar batteries, can bring your total well above the East Moline average.
Solar Financing Terms
Most solar installers in East Moline have solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also adds to your overall costs, so it’s important to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in East Moline, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.91 | $16,424 | $2,497 | 21.7 years |
8 kW | $3.84 | $21,477 | $3,751 | 21.3 years |
10 kW | $3.76 | $26,320 | $5,215 | 20.9 years |
12 kW | $3.68 | $30,952 | $6,890 | 20.4 years |
14 kW | $3.61 | $35,374 | $8,775 | 20.0 years |
16 kW | $3.53 | $39,585 | $10,871 | 19.6 years |
18 kW | $3.46 | $43,586 | $13,177 | 19.2 years |
20 kW | $3.38 | $47,376 | $15,694 | 18.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Reputation: Solar companies 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: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Moline, IL Solar Cost FAQs
How much does it cost to install solar panels in East Moline?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 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 higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in East Moline?
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 option if you want to get the most savings.
Do solar panels increase your home value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.