Solar Panel Cost Guide in Fancy Creek, IL (2024 Update)
- Fancy Creek Solar Installation Cost: $16,461
- 25-Year Savings: $13,500
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Fancy Creek
Let’s have a look at the average cost of solar panels in Fancy Creek.
In Fancy Creek, solar panels cost about 4 per watt on average.Because a 6.3-kW system is needed to cover the energy costs of a typical home in Fancy Creek, the average price of going solar will be about $16,461 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of equipment you want, your solar contractor and more.Many homeowners find adopting solar power is a sound investment. The average homeowner in Fancy Creek can save about $15,000 on their energy bills over 20 years.
Click the button below to get connected to a top solar installer in your area for a personalized estimate.
Solar savings over time in Fancy Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-15,610 |
| 3 years | $-13,909 |
| 5 years | $-12,208 |
| 7 years | $-10,506 |
| 9 years | $-8,805 |
| 11 years | $-7,104 |
| 13 years | $-5,402 |
| 15 years | $-3,701 |
| 17 years | $-2,000 |
| 19 years | $-299 |
| 21 years | $1,403 |
| 23 years | $3,104 |
| 25 years | $4,805 |
Top Solar Installers in Fancy Creek
When making the switch to solar, many homeowners prefer to use a solar installer since handling can be a difficult project. The expertise that solar companies provide can be invaluable as well, especially if you aren’t sure what kind of solar equipment you need.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
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
Best Technology
Tesla Energy
- 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 Fancy Creek
Factors that Affect Solar Panel Costs in Fancy Creek
For many Fancy Creek homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Fancy Creek, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,760. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Fancy Creek homeowners decide to finance their solar panel systems to offset upfront costs.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you select will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $7,994 | 16.8 years |
| 8 kW | $3.84 | $21,477 | $11,079 | 16.5 years |
| 10 kW | $3.76 | $26,320 | $14,375 | 16.2 years |
| 12 kW | $3.68 | $30,952 | $17,882 | 15.8 years |
| 14 kW | $3.61 | $35,374 | $21,599 | 15.5 years |
| 16 kW | $3.53 | $39,585 | $25,527 | 15.2 years |
| 18 kW | $3.46 | $43,586 | $29,666 | 14.9 years |
| 20 kW | $3.38 | $47,376 | $34,015 | 14.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Contract: Before signing a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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
Best Technology
Tesla Energy
- 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 Fancy Creek, IL Solar Cost FAQs
How much does it cost to install solar panels in Fancy Creek?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Fancy Creek?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Fancy Creek have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How often do you have to replace solar panels?
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 how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.