Solar Panel Cost Guide in Flora, IL (2023 Update)
- Flora Solar Installation Cost: $11,829
- 25-Year Savings: $16,065
- Payback Period: 10.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Flora
Let's take a look at the average cost of solar in Flora.
While the national average of solar panels is $2.66 per watt, solar panels in Flora typically cost about 2.73. Because a 6.2-kW system is needed to cover the energy needs of a typical home in Flora, the average price of going solar will be about $11,829 after claiming the federal solar tax credit of 30%.
The true price you pay can go above or below the average in Flora based on several factors, such as the brand of solar panels you choose and the solar company you hire. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Flora can save about $17,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar installer in Flora for a custom estimate.
Solar savings over time in Flora
| Year | Return on Investment |
|---|---|
| 1 years | $-10,713 |
| 3 years | $-8,482 |
| 5 years | $-6,250 |
| 7 years | $-4,019 |
| 9 years | $-1,787 |
| 11 years | $444 |
| 13 years | $2,676 |
| 15 years | $4,907 |
| 17 years | $7,139 |
| 19 years | $9,370 |
| 21 years | $11,602 |
| 23 years | $13,833 |
| 25 years | $16,065 |
Top Solar Installers in Flora
When going solar, many homeowners opt to go with a solar installer since DIY solar panel installation can be a difficult project. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be right for your family.
If you'd like to make the switch to solar but still aren't certain which solar system installer to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Flora
Factors that Affect Solar Panel Costs in Flora
The cost of installing a solar system in Flora can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,730 per kilowatt in Flora. The type 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 energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Flora average.
Solar Financing Terms
Most solar installers in Flora have solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can affect the cost. Flora's solar companies all have different labor costs and add varying upcharges to equipment. 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 decide on the company that provides the products, warranties and services you want 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 | $2.84 | $11,925 | $15,118 | 11.0 years |
| 8 kW | $2.78 | $15,594 | $20,464 | 10.8 years |
| 10 kW | $2.73 | $19,110 | $25,962 | 10.6 years |
| 12 kW | $2.68 | $22,473 | $31,613 | 10.4 years |
| 14 kW | $2.62 | $25,684 | $37,417 | 10.2 years |
| 16 kW | $2.57 | $28,741 | $43,373 | 10.0 years |
| 18 kW | $2.51 | $31,646 | $49,483 | 9.8 years |
| 20 kW | $2.46 | $34,398 | $55,745 | 9.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- 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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Flora, IL Solar Cost FAQs
What is the average cost of installing solar panels in Flora?
This is a tough question to answer precisely, because the cost depends on many 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, 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 Flora?
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 financial benefits from going solar.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $901.43 per year.
What solar power system size is right for my home?
To figure out what solar panel system size 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 home 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.