Solar Panel Cost Guide in Fulton, IL (2023 Update)
- Fulton Solar Installation Cost: $12,364
- 25-Year Savings: $15,763
- Payback Period: 11.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Fulton
We break down average solar pricing in Fulton.
Although the national average of solar panels is $2.66 per watt, solar panels in Fulton generally cost about 2.73. To account for the typical energy needs of the average home in Fulton, most homeowners require a 6.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,364, or $17,681 before the federal solar tax credit of 30% is applied.
The true cost of your system can go above or below the average in Fulton depending on several factors, such as the model of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Fulton see about $17,000 in savings on utility bills over 20 years.
To get a free quote from a pre-vetted solar company in Fulton, you can click the button below.
Solar savings over time in Fulton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,239 |
| 3 years | $-8,989 |
| 5 years | $-6,739 |
| 7 years | $-4,489 |
| 9 years | $-2,238 |
| 11 years | $12 |
| 13 years | $2,262 |
| 15 years | $4,512 |
| 17 years | $6,762 |
| 19 years | $9,013 |
| 21 years | $11,263 |
| 23 years | $13,513 |
| 25 years | $15,763 |
Top Solar Installers in Fulton
Putting up solar panels on your own can be a stressful task, which is why hiring a solar installer is a good option for many homeowners. Plus, if you aren't sure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you'd like to go solar but still aren't sure which solar panel installer to go with, here are our recommendations for providers in Fulton:
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 Fulton
Factors that Affect Solar Panel Costs in Fulton
For many Fulton homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Fulton, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important 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 energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Fulton. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Fulton homeowners opt to finance their solar panel systems to make paying for solar more affordable. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence how much it costs. Fulton'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 come with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for 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 | $14,144 | 11.4 years |
| 8 kW | $2.78 | $15,594 | $19,165 | 11.2 years |
| 10 kW | $2.73 | $19,110 | $24,339 | 11.0 years |
| 12 kW | $2.68 | $22,473 | $29,665 | 10.8 years |
| 14 kW | $2.62 | $25,684 | $35,144 | 10.6 years |
| 16 kW | $2.57 | $28,741 | $40,776 | 10.3 years |
| 18 kW | $2.51 | $31,646 | $46,561 | 10.1 years |
| 20 kW | $2.46 | $34,398 | $52,499 | 9.9 years |
How to Save on Solar Panels
The solar company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which installer you should go with, since different companies have access to different panels.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: When making the switch to solar, it's crucial to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project completion timeline.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
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 Fulton, IL Solar Cost FAQs
How much does it cost to install solar panels in Fulton?
The average cost of solar panels in Fulton is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Fulton?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
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 should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had 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.