Solar Panel Cost Guide in Godfrey, IL (2024 Update)

  • Godfrey Solar Installation Cost: $16,101
  • 25-Year Savings: $15,064
  • Payback Period: 15.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Godfrey

We go over average solar pricing in Godfrey.

Although the national average of solar panels is $2.66 per watt, solar panels in Godfrey typically cost around 4.Using this figure, a typical 6.1-kW system would cost about $16,101 before the 0 federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average Godfrey homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $17,000 on electricity bills over 20 years, many homeowners in Godfrey find installing solar panels has a decent ROI.

To calculate your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Godfrey

Year Return on Investment
1 years $-15,250
3 years $-13,549
5 years $-11,848
7 years $-10,147
9 years $-8,445
11 years $-6,744
13 years $-5,043
15 years $-3,341
17 years $-1,640
19 years $61
21 years $1,763
23 years $3,464
25 years $5,165

Top Solar Installers in Godfrey

Many homeowners opt for a solar installation company since installing solar panels by yourself can be hard. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.

If you're searching for a solar company in Godfrey, the EcoWatch team has organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Godfrey

Factors that Affect Solar Panel Costs in Godfrey

For many Godfrey homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Godfrey, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Godfrey, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Godfrey, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Godfrey, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 $3.91 $16,424 $9,817 15.6 years
8 kW $3.84 $21,477 $13,511 15.3 years
10 kW $3.76 $26,320 $17,415 15.0 years
12 kW $3.68 $30,952 $21,530 14.7 years
14 kW $3.61 $35,374 $25,855 14.4 years
16 kW $3.53 $39,585 $30,391 14.1 years
18 kW $3.46 $43,586 $35,138 13.8 years
20 kW $3.38 $47,376 $40,095 13.5 years

How to Save on Solar Panels

Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
  • Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Warranty: If you’re worried about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Godfrey, IL Solar Cost FAQs

How much does it cost to install solar panels in Godfrey?

This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Are solar panels free in Godfrey?

Solar panels aren’t free in Godfrey, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Is going solar worth it?

Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.

How long do solar panels last in Godfrey?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.

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.

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