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.To cover the typical energy usage of the average home in Fancy Creek, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,461, or $23,539 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Fancy Creek homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Fancy Creek find installing solar panels can be quite rewarding.
To get a free quote from a highly rated solar company in Fancy Creek, you can click the button below.
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
Installing solar panels on your own can be a time-consuming project, which is why hiring a solar installer is a good option for many homeowners. Plus, if you aren’t sure what brand of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you’d like to start using solar energy but still aren’t certain which solar installer to go with, here are our recommendations for providers near you:
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 Fancy Creek
Factors that Affect Solar Panel Costs in Fancy Creek
Though the average cost of a solar system in Fancy Creek is $16,461, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the price of a solar system in Fancy Creek, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $3,760 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Fancy Creek, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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
If paying for a solar system in cash is out of reach, solar loans are an affordable route because they decrease your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your total costs, so it’s crucial to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Fancy Creek know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $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 solar company you opt for will affect not only your total costs, but also the types 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, such as:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The type of solar panel you need plays a role in which company you should choose, since different companies provide different panels.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
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 Fancy Creek, IL Solar Cost FAQs
How much does it cost to install solar panels in Fancy Creek?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Fancy Creek?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Fancy Creek?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.