Solar Panel Cost Guide in Freeburg, IL (2023 Update)
- Freeburg Solar Installation Cost: $16,000
- 25-Year Savings: $14,088
- Payback Period: 15.6 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Freeburg
Find out what the average cost of installing solar panels is in Freeburg.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Freeburg, the typical cost of a solar system is 4 per watt.Using this figure, a typical 6.1-kW system would cost about $16,000 before the 0 federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely vary based on the amount of energy your home requires and what company you want to go with.Many homeowners find going solar is a solid investment. The average homeowner in Freeburg can save around $16,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a personalized quote.
Solar savings over time in Freeburg
| Year | Return on Investment |
|---|---|
| 1 years | $-15,149 |
| 3 years | $-13,448 |
| 5 years | $-11,746 |
| 7 years | $-10,045 |
| 9 years | $-8,344 |
| 11 years | $-6,643 |
| 13 years | $-4,941 |
| 15 years | $-3,240 |
| 17 years | $-1,539 |
| 19 years | $163 |
| 21 years | $1,864 |
| 23 years | $3,565 |
| 25 years | $5,267 |
Top Solar Installers in Freeburg
Many homeowners decide to use a solar installation company since figuring out how to install solar panels by yourself can be time-consuming. Plus, if you’d like to maximize your investment in solar, going with a solar company can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Freeburg
Factors that Affect Solar Panel Costs in Freeburg
For many Freeburg homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Freeburg, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,760. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Freeburg, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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 solar panels out of pocket is out of reach, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only 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 getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can play a part in determining the cost. Freeburg’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Freeburg are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $8,947 | 16.2 years |
| 8 kW | $3.84 | $21,477 | $12,351 | 15.9 years |
| 10 kW | $3.76 | $26,320 | $15,965 | 15.6 years |
| 12 kW | $3.68 | $30,952 | $19,789 | 15.2 years |
| 14 kW | $3.61 | $35,374 | $23,824 | 14.9 years |
| 16 kW | $3.53 | $39,585 | $28,070 | 14.6 years |
| 18 kW | $3.46 | $43,586 | $32,526 | 14.3 years |
| 20 kW | $3.38 | $47,376 | $37,193 | 14.0 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Freeburg, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Freeburg, IL Solar Cost FAQs
How much does it cost to install solar panels in Freeburg?
The average cost of solar panels in Freeburg is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Freeburg?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside 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 way to go if you want to maximize your savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Freeburg?
On average, solar panels can last 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 amount 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.