Solar Panel Cost Guide in Effingham, IL (Oct 2022)
- Effingham Solar Installation Cost: $11,886
- 25-Year Savings: $12,993
- Payback Period: 11.9 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Effingham
See how much it might cost to go solar in Effingham.
In Effingham, solar panels cost about $3 per watt on average. The average solar panel system size in Effingham is around 6.2 kilowatts, meaning a cost of about $11,886 for a solar installation, or $8,796 after the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar panels you want, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Effingham see about $15,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Effingham
| Year | Return on Investment |
|---|---|
| 1 years | $-10,891 |
| 3 years | $-8,901 |
| 5 years | $-6,910 |
| 7 years | $-4,920 |
| 9 years | $-2,930 |
| 11 years | $-939 |
| 13 years | $1,051 |
| 15 years | $3,041 |
| 17 years | $5,032 |
| 19 years | $7,022 |
| 21 years | $9,013 |
| 23 years | $11,003 |
| 25 years | $12,993 |
Top Solar Installers in Effingham
When making the switch to solar, many homeowners decide to use a solar installer since handling can be a challenging project. Solar warranties and repairs are usually included in the cost of installation when you go with a solar company too, which can save you more money after your upfront investment.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
The Green Panel
- 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 Effingham
Factors that Affect Solar Panel Costs in Effingham
Even though the average cost of solar panels in Effingham is $11,886, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment Size
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in Effingham. 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 power bills. Additionally, extra products, like solar batteries, can bring your total well above the Effingham average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating in Effingham, and each can charge varying amounts for labor and equipment. Additionally, some companies in Effingham have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $12,071 | 12.4 years |
| 8 kW | $2.78 | $15,594 | $16,400 | 12.2 years |
| 10 kW | $2.73 | $19,110 | $20,883 | 11.9 years |
| 12 kW | $2.68 | $22,473 | $25,518 | 11.7 years |
| 14 kW | $2.62 | $25,684 | $30,306 | 11.5 years |
| 16 kW | $2.57 | $28,741 | $35,247 | 11.2 years |
| 18 kW | $2.51 | $31,646 | $40,341 | 11.0 years |
| 20 kW | $2.46 | $34,398 | $45,588 | 10.8 years |
Solar Incentives in Effingham
| Name | Special Assessment for Solar Energy Systems |
| Incentive Amount | Varies |
| More Info | Click here |
| Name | Solar Renewable Energy Credits |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Renewable Energy Tax Credit |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Warranty: If you care about the durability of your solar system, checking your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
The Green Panel
- 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 Effingham, IL Solar Cost FAQs
What is the average cost of installing solar panels in Effingham?
The average cost of solar panels in Effingham 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Effingham?
A solar panel system isn't free in Effingham, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will installing solar panels impact my home value?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't choose 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 solar panels."
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.
