Solar Panel Cost Guide in Galesburg City, IL (Mar 2023)
- Galesburg City 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 City
Let's have a look at the average cost of solar in Galesburg City.
In Galesburg City, solar panels cost about 2.73 per watt on average. Because a 6.4-kW system is needed to cover the energy consumption of a typical home in Galesburg City, the average price of going solar will be about $12,192 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and your own solar costs will vary based on the amount of energy your home requires and what company you go with. Even with the large upfront cost, the average Galesburg City homeowner can save about $14,000 on their energy bills over 20 years, which is one of the advantages of solar.
To get a free quote from a highly rated solar installer in Galesburg City, you can click the button below.
Solar savings over time in Galesburg City
| 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 City
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with an installer can make converting to solar power much easier. Another advantage of utilizing a solar company is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 City
Factors that Affect Solar Panel Costs in Galesburg City
While the average cost of a solar system in Galesburg City is $12,192, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of 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's in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they lower your upfront costs and let you pay for your system over five to seven years on average. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence your pricing. Galesburg City's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Galesburg City know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're unsure 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.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
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 City, IL Solar Cost FAQs
How much does it cost to install solar panels in Galesburg City?
The average cost of solar panels in Galesburg City 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Galesburg City?
Leasing solar panels can be an attractive choice, as it usually 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.
Does Galesburg City have a net metering program?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 install 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.