Solar Panel Cost Guide in Felix, IL (Mar 2023)
- Felix Solar Installation Cost: $12,307
- 25-Year Savings: $10,305
- Payback Period: 13.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Felix
See how much it might cost to install solar panels in Felix.
Although the national average of solar panels is $2.66 per watt, solar panels in Felix typically cost about 2.73. The average solar panel system size in Felix is around 6.4 kilowatts, meaning a cost of about $12,307 for a solar installation, or $17,599 before 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 use, the type of solar system you want to get, your solar contractor and more. With typical savings of about $13,000 on power bills over 20 years, many homeowners in Felix find installing solar panels can be quite rewarding.
You can click the button below to get connected with a pre-vetted solar installer in Felix that can help you get a more accurate cost estimate for your home.
Solar savings over time in Felix
| Year | Return on Investment |
|---|---|
| 1 years | $-11,402 |
| 3 years | $-9,593 |
| 5 years | $-7,784 |
| 7 years | $-5,976 |
| 9 years | $-4,167 |
| 11 years | $-2,358 |
| 13 years | $-549 |
| 15 years | $1,260 |
| 17 years | $3,069 |
| 19 years | $4,878 |
| 21 years | $6,687 |
| 23 years | $8,496 |
| 25 years | $10,305 |
Top Solar Installers in Felix
Many homeowners decide to hire a solar installation company since figuring out how to install solar panels by yourself can be time-consuming. Plus, if you're unsure what kind of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar installer in Felix, the EcoWatch team has organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Felix
Factors that Affect Solar Panel Costs in Felix
For many Felix homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Felix, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,730. 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 opt for 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, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Felix average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Felix, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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 | $9,158 | 14.1 years |
| 8 kW | $2.78 | $15,594 | $12,516 | 13.9 years |
| 10 kW | $2.73 | $19,110 | $16,027 | 13.6 years |
| 12 kW | $2.68 | $22,473 | $19,691 | 13.3 years |
| 14 kW | $2.62 | $25,684 | $23,508 | 13.1 years |
| 16 kW | $2.57 | $28,741 | $27,478 | 12.8 years |
| 18 kW | $2.51 | $31,646 | $31,601 | 12.5 years |
| 20 kW | $2.46 | $34,398 | $35,877 | 12.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Felix, IL Solar Cost FAQs
What is the average cost of installing solar panels in Felix?
This is a difficult question to answer precisely, because the cost depends on a few different 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Felix?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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.
Do solar panels increase the value of your home?
Solar panels can increase your property's value considerably 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% with a solar installation."
How often do you have to replace solar panels?
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 opt 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.