Solar Panel Cost Guide in Fairbury, IL (2024 Update)
- Fairbury Solar Installation Cost: $16,775
- 25-Year Savings: $13,370
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Fairbury
Find out how much it might cost to make the switch to solar in Fairbury.
In Fairbury, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Fairbury, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs around $16,775, or $23,988 before the federal solar tax credit of 0 is applied.
How much you pay can go above or below the average in Fairbury based on a few factors, such as the brand of solar panels you choose and the solar installer you hire.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Fairbury can save around $15,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Fairbury that can help you get a more accurate cost estimate for your home.
Solar savings over time in Fairbury
| Year | Return on Investment |
|---|---|
| 1 years | $-15,619 |
| 3 years | $-13,307 |
| 5 years | $-10,994 |
| 7 years | $-8,682 |
| 9 years | $-6,370 |
| 11 years | $-4,057 |
| 13 years | $-1,745 |
| 15 years | $567 |
| 17 years | $2,880 |
| 19 years | $5,192 |
| 21 years | $7,505 |
| 23 years | $9,817 |
| 25 years | $12,129 |
Top Solar Installers in Fairbury
When making the switch to solar, many homeowners choose to go with a solar company since installing a solar system yourself can be a difficult project. Companies can also offer access to quality options of the best solar panels and help you decide which one will be right for your home.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Fairbury
Factors that Affect Solar Panel Costs in Fairbury
There are several factors that can influence 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 panel 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 nearly $3,760. The type of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Fairbury homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your all-in costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for and also fits within 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 | $3.91 | $16,424 | $7,628 | 17.1 years |
| 8 kW | $3.84 | $21,477 | $10,592 | 16.7 years |
| 10 kW | $3.76 | $26,320 | $13,767 | 16.4 years |
| 12 kW | $3.68 | $30,952 | $17,152 | 16.1 years |
| 14 kW | $3.61 | $35,374 | $20,747 | 15.8 years |
| 16 kW | $3.53 | $39,585 | $24,554 | 15.4 years |
| 18 kW | $3.46 | $43,586 | $28,570 | 15.1 years |
| 20 kW | $3.38 | $47,376 | $32,798 | 14.8 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Fairbury, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- 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 affects which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Fairbury, IL Solar Cost FAQs
What is the average cost of installing solar panels in Fairbury?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 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 higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Fairbury?
You can’t get solar panels for free in Fairbury. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Fairbury have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Fairbury?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.