Solar Panel Cost Guide in East Peoria, IL (Jan 2023)
- East Peoria Solar Installation Cost: $12,154
- 25-Year Savings: $7,676
- Payback Period: 15.3 Years
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Top Solar Installers in East Peoria
Many homeowners choose to use a solar panel company since figuring out how to install solar panels on your own can be hard. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in East Peoria
Factors that Affect Solar Panel Costs in East Peoria
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in East Peoria: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in East Peoria have solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also increases your total costs, so it's important to take that into consideration 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
Finally, the company you get to install your solar panel system can influence the cost. East Peoria's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also fit into 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||$6,772||15.9 years|
|8 kW||$2.78||$15,594||$9,336||15.6 years|
|10 kW||$2.73||$19,110||$12,052||15.3 years|
|12 kW||$2.68||$22,473||$14,921||15.0 years|
|14 kW||$2.62||$25,684||$17,943||14.7 years|
|16 kW||$2.57||$28,741||$21,117||14.4 years|
|18 kW||$2.51||$31,646||$24,445||14.1 years|
|20 kW||$2.46||$34,398||$27,925||13.8 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. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the completion timeline.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- 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 sign of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
EcoWatch's East Peoria, IL Solar Cost FAQs
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.