Solar Panel Cost Guide in Galesburg, IL (2023 Update)
- Galesburg Solar Installation Cost: $12,192
- 25-Year Savings: $11,776
- Payback Period: 12.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Galesburg
Find out what the average cost of solar panels are in Galesburg.
While the national average of solar panels is $2.66 per watt, solar panels in Galesburg typically cost around 2.73. Since a 6.4-kW system is needed to cover the energy costs of a typical home in Galesburg, the average price of going solar will be about $12,192 after claiming the federal solar tax credit of 30%.
The true cost of your system can be above or below the average in Galesburg depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire. Many homeowners find going solar is a rewarding investment. The average homeowner in Galesburg can save about $14,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Galesburg for a quote for your home.
Solar savings over time in Galesburg
| Year | Return on Investment |
|---|---|
| 1 years | $-11,233 |
| 3 years | $-9,316 |
| 5 years | $-7,399 |
| 7 years | $-5,481 |
| 9 years | $-3,564 |
| 11 years | $-1,646 |
| 13 years | $271 |
| 15 years | $2,189 |
| 17 years | $4,106 |
| 19 years | $6,024 |
| 21 years | $7,941 |
| 23 years | $9,858 |
| 25 years | $11,776 |
Top Solar Installers in Galesburg
Many homeowners decide to hire a solar installation company since installing solar panels on your own can be a labor-intensive endeavor. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
Working with a professional solar installer 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 (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 Galesburg
Factors that Affect Solar Panel Costs in Galesburg
For many Galesburg homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Galesburg, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Galesburg, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. The kind of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Galesburg, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. 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 choose a 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 | $10,617 | 13.2 years |
| 8 kW | $2.78 | $15,594 | $14,462 | 13.0 years |
| 10 kW | $2.73 | $19,110 | $18,460 | 12.7 years |
| 12 kW | $2.68 | $22,473 | $22,610 | 12.5 years |
| 14 kW | $2.62 | $25,684 | $26,913 | 12.2 years |
| 16 kW | $2.57 | $28,741 | $31,370 | 12.0 years |
| 18 kW | $2.51 | $31,646 | $35,979 | 11.7 years |
| 20 kW | $2.46 | $34,398 | $40,741 | 11.4 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar installer. See to it that you understand how the installation process works and the project completion timeline.
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 Galesburg, IL Solar Cost FAQs
How much does it cost to install solar panels in Galesburg?
The average cost of solar panels in Galesburg 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 stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.