Solar Panel Cost Guide in Felix, IL (2023 Update)
- Felix Solar Installation Cost: $12,298
- 25-Year Savings: $10,314
- Payback Period: 13.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Felix
We go over average solar pricing in Felix.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Felix, the average cost of a solar system is 2.73 per watt. Because a 6.4-kW system is needed to cover the energy costs of a typical home in Felix, the average price of going solar will be about $12,307 after claiming the federal solar tax credit of 30%.
These figures are just averages, and your own solar costs may vary based on your energy needs and what company you want to go with. With average savings of about $13,000 on utility bills over 20 years, many homeowners in Felix find investing in solar can pay off big.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Felix
| Year | Return on Investment |
|---|---|
| 1 years | $-12,222 |
| 3 years | $-12,072 |
| 5 years | $-11,921 |
| 7 years | $-11,770 |
| 9 years | $-11,619 |
| 11 years | $-11,469 |
| 13 years | $-11,318 |
| 15 years | $-11,167 |
| 17 years | $-11,016 |
| 19 years | $-10,866 |
| 21 years | $-10,715 |
| 23 years | $-10,564 |
| 25 years | $-10,413 |
Top Solar Installers in Felix
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring an installer can make your swap to solar power much easier. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our suggestions for providers in Felix:
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 Felix
Factors that Affect Solar Panel Costs in Felix
There are many criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in Felix. 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 choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Felix average.
Solar Financing Terms
Many homeowners find the average cost of solar in Felix to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Felix is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets. The company's size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of 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 satisfied reviews from past customers.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Felix, IL Solar Cost FAQs
How much does it cost to install solar panels in Felix?
This is a tough question to answer precisely, 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 higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive 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 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 bang for your buck from going solar.
How will having solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Felix is currently $212,599, so you could be looking at a value of about $8,717 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Felix is a worthwhile investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know 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 house 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.