Solar Panel Cost Guide in Freeport, IL (2023 Update)
- Freeport Solar Installation Cost: $12,480
- 25-Year Savings: $10,132
- Payback Period: 13.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Freeport
Find out what the average cost of solar panel installation is in Freeport.
The national average cost of solar panels is $2.66 per watt, but in Freeport it's 2.73 per watt. To cover the typical energy needs of the average home in Freeport, most homeowners require a 6.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,479, or $17,845 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Freeport homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Freeport can save about $13,000 on their energy bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Freeport
| Year | Return on Investment |
|---|---|
| 1 years | $-11,323 |
| 3 years | $-9,011 |
| 5 years | $-6,699 |
| 7 years | $-4,386 |
| 9 years | $-2,074 |
| 11 years | $238 |
| 13 years | $2,551 |
| 15 years | $4,863 |
| 17 years | $7,175 |
| 19 years | $9,488 |
| 21 years | $11,800 |
| 23 years | $14,113 |
| 25 years | $16,425 |
Top Solar Installers in Freeport
Installing solar panels on your own can be a time-consuming task, which is why hiring a solar installation company 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 find the right equipment for you after a site survey and consultation.
If you're searching for a solar company in Freeport, the EcoWatch team has compiled 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
See all of the solar companies in Freeport
Factors that Affect Solar Panel Costs in Freeport
There are a number of factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
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 consumes, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in Freeport. The type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Freeport provide solar loans, which reduce your upfront costs of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies in Freeport, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $8,850 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,106 | 14.1 years |
| 10 kW | $2.73 | $19,110 | $15,515 | 13.8 years |
| 12 kW | $2.68 | $22,473 | $19,077 | 13.5 years |
| 14 kW | $2.62 | $25,684 | $22,791 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,659 | 13.0 years |
| 18 kW | $2.51 | $31,646 | $30,679 | 12.7 years |
| 20 kW | $2.46 | $34,398 | $34,852 | 12.4 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Freeport, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The kind of solar panel you'd like plays a part in which company you should opt for, since different companies provide different panels.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Freeport, IL Solar Cost FAQs
How much does it cost to install solar panels in Freeport?
The average cost of solar panels in Freeport is about $13,650 for a 5-kW system and $27,300 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 consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on electricity bills after switching to solar?
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 $692.50 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.