Solar Panel Cost Guide in Gillespie, IL (2023 Update)
- Gillespie Solar Installation Cost: $11,804
- 25-Year Savings: $14,062
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Gillespie
Find out what the average cost of a solar system is in Gillespie.
The national average cost of solar panels is $2.66 per watt, but in Gillespie it's 2.73 per watt. To cover the typical energy usage of the average home in Gillespie, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,810, or $16,888 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Gillespie homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $16,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Gillespie for a quote for your home.
Solar savings over time in Gillespie
| Year | Return on Investment |
|---|---|
| 1 years | $-11,718 |
| 3 years | $-11,545 |
| 5 years | $-11,373 |
| 7 years | $-11,200 |
| 9 years | $-11,028 |
| 11 years | $-10,855 |
| 13 years | $-10,683 |
| 15 years | $-10,510 |
| 17 years | $-10,338 |
| 19 years | $-10,166 |
| 21 years | $-9,993 |
| 23 years | $-9,821 |
| 25 years | $-9,648 |
Top Solar Installers in Gillespie
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar company can make your switch to solar power much easier. Plus, if you're unsure what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Gillespie
Factors that Affect Solar Panel Costs in Gillespie
The cost of installing a solar system in Gillespie can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Gillespie. There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Gillespie homeowners choose to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to 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 APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Gillespie is the company you choose to install your solar system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Gillespie have more knowledge about local solar incentives and can help you take advantage of 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 end up saving you 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 | $13,201 | 11.9 years |
| 8 kW | $2.78 | $15,594 | $17,907 | 11.6 years |
| 10 kW | $2.73 | $19,110 | $22,766 | 11.4 years |
| 12 kW | $2.68 | $22,473 | $27,777 | 11.2 years |
| 14 kW | $2.62 | $25,684 | $32,942 | 11.0 years |
| 16 kW | $2.57 | $28,741 | $38,260 | 10.7 years |
| 18 kW | $2.51 | $31,646 | $43,730 | 10.5 years |
| 20 kW | $2.46 | $34,398 | $49,353 | 10.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: When making the switch to solar energy, it's necessary to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Gillespie, IL Solar Cost FAQs
How much does it cost to install solar panels in Gillespie?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Gillespie?
A solar panel system isn't free in Gillespie, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $837.51 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 once you've had 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.