Solar Panel Cost Guide in Granite City, IL (2023 Update)
- Granite City Solar Installation Cost: $11,695
- 25-Year Savings: $8,135
- Payback Period: 14.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Granite City
Let's have a look at the average cost of solar in Granite City.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Granite City, the average cost of a solar system is 2.73 per watt. Using this figure, a typical 6.1-kW system would cost about $11,695 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $12,000 over 20 years on utility bills.
Click the button below to get connected to a top solar panel company in your area for a customized estimate.
Solar savings over time in Granite City
| Year | Return on Investment |
|---|---|
| 1 years | $-10,902 |
| 3 years | $-9,316 |
| 5 years | $-7,729 |
| 7 years | $-6,143 |
| 9 years | $-4,556 |
| 11 years | $-2,970 |
| 13 years | $-1,384 |
| 15 years | $203 |
| 17 years | $1,789 |
| 19 years | $3,376 |
| 21 years | $4,962 |
| 23 years | $6,549 |
| 25 years | $8,135 |
Top Solar Installers in Granite City
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Using an installer can make swapping over to solar power much easier. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Granite City
Factors that Affect Solar Panel Costs in Granite City
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Granite City: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,730. The brand of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on 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
Most solar companies in Granite City provide solar loans, which reduce your upfront costs of installing solar panels. While solar loans make going solar more accessible for Granite City homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Granite City is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services for different budgets. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $7,525 | 15.3 years |
| 8 kW | $2.78 | $15,594 | $10,339 | 15.0 years |
| 10 kW | $2.73 | $19,110 | $13,306 | 14.7 years |
| 12 kW | $2.68 | $22,473 | $16,426 | 14.4 years |
| 14 kW | $2.62 | $25,684 | $19,698 | 14.1 years |
| 16 kW | $2.57 | $28,741 | $23,124 | 13.9 years |
| 18 kW | $2.51 | $31,646 | $26,702 | 13.6 years |
| 20 kW | $2.46 | $34,398 | $30,434 | 13.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: It's important to read your solar installer's contract carefully 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: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Granite City, IL Solar Cost FAQs
How much does it cost to install solar panels in Granite City?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Granite City?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Granite City, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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.