Solar Panel Cost Guide in Edwardsville, IL (2023 Update)
- Edwardsville Solar Installation Cost: $11,690
- 25-Year Savings: $10,565
- Payback Period: 13.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Edwardsville
We break down average solar pricing in Edwardsville.
While the national average of solar panels is $2.66 per watt, solar panels in Edwardsville typically cost around 2.73. The average Edwardsville 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.
Bear in mind that the figures above are only estimates based on the average energy use of Edwardsville 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. For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $14,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Edwardsville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,616 |
| 3 years | $-11,468 |
| 5 years | $-11,319 |
| 7 years | $-11,171 |
| 9 years | $-11,023 |
| 11 years | $-10,874 |
| 13 years | $-10,726 |
| 15 years | $-10,578 |
| 17 years | $-10,429 |
| 19 years | $-10,281 |
| 21 years | $-10,132 |
| 23 years | $-9,984 |
| 25 years | $-9,836 |
Top Solar Installers in Edwardsville
Installing solar panels yourself can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers offer can be invaluable as well, especially if you aren't sure what kind of solar equipment would be right for your home.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Edwardsville
Factors that Affect Solar Panel Costs in Edwardsville
For many Edwardsville homeowners, the decision to go solar 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 considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your home, 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 about $2,730. 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
If paying for solar panels out of pocket is out of reach, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your overall costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. 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
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.