Solar Panel Cost Guide in Empire, IL (2023 Update)
- Empire Solar Installation Cost: $12,120
- 25-Year Savings: $13,592
- Payback Period: 11.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Empire
We go over average solar pricing in Empire.
The average cost of a solar system in Empire is 2.73 per watt. The average Empire homeowner needs a 6.3-kilowatt system, which would cost about $12,116 with the federal tax credit, or $17,326 before the 30% tax credit is applied.
These figures are just averages, and the cost of going solar for you will look different based on your specific situation and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $15,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Empire for a quote for your home.
Solar savings over time in Empire
| Year | Return on Investment |
|---|---|
| 1 years | $-12,034 |
| 3 years | $-11,863 |
| 5 years | $-11,691 |
| 7 years | $-11,520 |
| 9 years | $-11,348 |
| 11 years | $-11,177 |
| 13 years | $-11,006 |
| 15 years | $-10,834 |
| 17 years | $-10,663 |
| 19 years | $-10,491 |
| 21 years | $-10,320 |
| 23 years | $-10,149 |
| 25 years | $-9,977 |
Top Solar Installers in Empire
When making the switch to solar, many homeowners decide to hire a solar installer since overseeing your solar installation yourself can be a challenging project. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.
If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our recommendations for providers in Empire:
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 Empire
Factors that Affect Solar Panel Costs in Empire
There are many factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Empire, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Empire to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only 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 securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Empire, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,400 | 12.3 years |
| 8 kW | $2.78 | $15,594 | $16,839 | 12.0 years |
| 10 kW | $2.73 | $19,110 | $21,431 | 11.8 years |
| 12 kW | $2.68 | $22,473 | $26,176 | 11.5 years |
| 14 kW | $2.62 | $25,684 | $31,073 | 11.3 years |
| 16 kW | $2.57 | $28,741 | $36,124 | 11.1 years |
| 18 kW | $2.51 | $31,646 | $41,327 | 10.8 years |
| 20 kW | $2.46 | $34,398 | $46,683 | 10.6 years |
How to Save on Solar Panels
The solar company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Warranty: If you're worried about the longevity of your solar system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Empire, IL Solar Cost FAQs
How much does it cost to install solar panels in Empire?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Empire is currently $144,189, which means you can look forward to a value of about $5,912 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Empire is a fruitful investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.