Solar Panel Cost Guide in Edwardsville, IL (2023 Update)
- Edwardsville Solar Installation Cost: $11,695
- 25-Year Savings: $10,560
- Payback Period: 13.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Edwardsville
We break down average solar pricing in Edwardsville.
The average cost of a solar system in Edwardsville is 2.73 per watt. Since a 6.1-kW system is needed to cover the energy consumption of a typical home in Edwardsville, the average price of going solar will be about $11,695 after claiming the federal solar tax credit of 30%.
These figures are only averages, and how much solar costs for you will differ based on the amount of energy your home requires and what company you choose to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Edwardsville can save around $14,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar installer in Edwardsville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Edwardsville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,805 |
| 3 years | $-9,025 |
| 5 years | $-7,244 |
| 7 years | $-5,464 |
| 9 years | $-3,683 |
| 11 years | $-1,903 |
| 13 years | $-122 |
| 15 years | $1,658 |
| 17 years | $3,438 |
| 19 years | $5,219 |
| 21 years | $6,999 |
| 23 years | $8,780 |
| 25 years | $10,560 |
Top Solar Installers in Edwardsville
Many homeowners choose to hire a solar panel installer since installing solar panels on your own can be a labor-intensive endeavor. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
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 nearby:
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 Edwardsville
Factors that Affect Solar Panel Costs in Edwardsville
For many Edwardsville homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Edwardsville, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Edwardsville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by about $2,730 for each additional kilowatt you need. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Edwardsville average.
Solar Financing Terms
Many homeowners find the average cost of solar in Edwardsville to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Edwardsville, and each can charge different amounts for labor and equipment. Additionally, some companies in Edwardsville know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $9,904 | 13.7 years |
| 8 kW | $2.78 | $15,594 | $13,511 | 13.4 years |
| 10 kW | $2.73 | $19,110 | $17,270 | 13.1 years |
| 12 kW | $2.68 | $22,473 | $21,183 | 12.9 years |
| 14 kW | $2.62 | $25,684 | $25,249 | 12.6 years |
| 16 kW | $2.57 | $28,741 | $29,467 | 12.3 years |
| 18 kW | $2.51 | $31,646 | $33,839 | 12.1 years |
| 20 kW | $2.46 | $34,398 | $38,363 | 11.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: The model of solar panel you'd like to install plays a part in which installer you should opt for, since different companies provide different panels.
- Reputation: Well-established companies likely have a high 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 service, such as part repairs and replacements.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
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 Edwardsville, IL Solar Cost FAQs
How much does it cost to install solar panels in Edwardsville?
The average cost of solar panels in Edwardsville is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost 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.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage 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 install 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.