Solar Panel Cost Guide in Hainesville, IL (2023 Update)
- Hainesville Solar Installation Cost: $12,084
- 25-Year Savings: $10,528
- Payback Period: 13.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hainesville
See how much it might cost to install solar panels in Hainesville.
Although the national average of solar panels is $2.66 per watt, solar panels in Hainesville typically cost about 2.73. Using this figure, a typical 6.3-kW system would cost about $12,078 before the 30% federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Hainesville depending on a few factors, such as the model of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a solid investment. The average homeowner in Hainesville can save around $14,000 on their power bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Hainesville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,928 |
| 3 years | $-8,615 |
| 5 years | $-6,303 |
| 7 years | $-3,990 |
| 9 years | $-1,678 |
| 11 years | $634 |
| 13 years | $2,947 |
| 15 years | $5,259 |
| 17 years | $7,571 |
| 19 years | $9,884 |
| 21 years | $12,196 |
| 23 years | $14,508 |
| 25 years | $16,821 |
Top Solar Installers in Hainesville
Many homeowners opt for a solar panel company since installing solar panels yourself can be a labor-intensive endeavor. Companies can also have access to various kinds of the best solar panels and help you decide which one will be best for your home.
If you're looking for a solar company in Hainesville, the EcoWatch team has compiled a list of our top suggestions here:
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 Hainesville
Factors that Affect Solar Panel Costs in Hainesville
While the average cost of a solar system in Hainesville is $12,078, your final cost may differ. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Hainesville average.
Solar Financing Terms
Most solar installers in Hainesville provide solar loans, which reduce your upfront costs of installing solar. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can affect your pricing. Hainesville's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that provides the products, warranties and services you're looking for 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 | $9,531 | 13.9 years |
| 8 kW | $2.78 | $15,594 | $13,014 | 13.6 years |
| 10 kW | $2.73 | $19,110 | $16,649 | 13.4 years |
| 12 kW | $2.68 | $22,473 | $20,438 | 13.1 years |
| 14 kW | $2.62 | $25,684 | $24,379 | 12.8 years |
| 16 kW | $2.57 | $28,741 | $28,473 | 12.6 years |
| 18 kW | $2.51 | $31,646 | $32,721 | 12.3 years |
| 20 kW | $2.46 | $34,398 | $37,121 | 12.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company 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 tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: The type of solar panel you need to get plays a role in which installer you should choose, since different companies have different panels.
- Warranty: If you're worried about the endurance of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Hainesville, IL Solar Cost FAQs
How much does it cost to install solar panels in Hainesville?
The average cost of solar panels in Hainesville 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.