Solar Panel Cost Guide in Hall, IL (2023 Update)
- Hall Solar Installation Cost: $12,307
- 25-Year Savings: $11,324
- Payback Period: 13.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hall
Let's have a look at the average cost of solar panels in Hall.
The average cost of a solar panel system in Hall is 2.73 per watt. The average Hall homeowner needs a 6.4-kilowatt system, which would cost about $12,307 with the federal tax credit, or $17,599 before the 30% tax credit is applied.
These figures are just averages, and how much solar costs for you will most likely vary based on your specific situation and what company you go with. Despite the large initial cost, the average Hall homeowner can save about $14,000 on their power bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar company in Hall that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hall
| Year | Return on Investment |
|---|---|
| 1 years | $-11,362 |
| 3 years | $-9,471 |
| 5 years | $-7,581 |
| 7 years | $-5,690 |
| 9 years | $-3,800 |
| 11 years | $-1,909 |
| 13 years | $-19 |
| 15 years | $1,871 |
| 17 years | $3,762 |
| 19 years | $5,652 |
| 21 years | $7,543 |
| 23 years | $9,433 |
| 25 years | $11,324 |
Top Solar Installers in Hall
Many homeowners opt for a solar installer since installing solar panels yourself can be time-consuming. Companies can also have access to quality options of the best solar panels and help you pick which one will be best for you.
Working with a licensed solar company can help you make the most of your investment in solar. 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 Hall
Factors that Affect Solar Panel Costs in Hall
For many Hall homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Hall, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of 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 generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,730. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Hall, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Hall, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes 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 | $10,079 | 13.5 years |
| 8 kW | $2.78 | $15,594 | $13,744 | 13.3 years |
| 10 kW | $2.73 | $19,110 | $17,562 | 13.0 years |
| 12 kW | $2.68 | $22,473 | $21,533 | 12.8 years |
| 14 kW | $2.62 | $25,684 | $25,657 | 12.5 years |
| 16 kW | $2.57 | $28,741 | $29,934 | 12.2 years |
| 18 kW | $2.51 | $31,646 | $34,364 | 12.0 years |
| 20 kW | $2.46 | $34,398 | $38,946 | 11.7 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose considerably affects 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:
- Installation Process: When going solar, it's important to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project completion timeline.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: The model of solar panel you want to install plays a part in which installer you should choose, since different companies have different panels.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
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 Hall, IL Solar Cost FAQs
How much does it cost to install solar panels in Hall?
This is a hard question to answer precisely, because the cost depends on a variety of 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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Hall?
Leasing solar panels can be an appealing choice, as it often 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 get the most savings.
Can you sell solar power back to the grid in Hall?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Hall?
On average, solar panels can last 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 higher 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.