Solar Panel Cost Guide in Herrin, IL (2024 Update)
- Herrin Solar Installation Cost: $15,943
- 25-Year Savings: $11,814
- Payback Period: 17.0 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Herrin
Let’s take a look at the average cost of solar panels in Herrin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Herrin, the average cost of a solar system is 4 per watt.Using this figure, a typical 6.1-kW system would cost about $15,943 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely vary based on factors unique to your home and what company you go with.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Herrin can save about $15,000 on their energy bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a personalized quote.
Solar savings over time in Herrin
Year | Return on Investment |
---|---|
1 years | $-15,092 |
3 years | $-13,391 |
5 years | $-11,689 |
7 years | $-9,988 |
9 years | $-8,287 |
11 years | $-6,586 |
13 years | $-4,884 |
15 years | $-3,183 |
17 years | $-1,482 |
19 years | $220 |
21 years | $1,921 |
23 years | $3,622 |
25 years | $5,323 |
Top Solar Installers in Herrin
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar company can make swapping over to solar power much easier. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're looking for a solar company in Herrin, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- 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 Herrin
Factors that Affect Solar Panel Costs in Herrin
There are many factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use 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 $3,760.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can impact the cost. Herrin’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced 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 choose a company that provides the products, warranties and services you want and also is 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 | $3.91 | $16,424 | $6,744 | 17.7 years |
8 kW | $3.84 | $21,477 | $9,413 | 17.4 years |
10 kW | $3.76 | $26,320 | $12,293 | 17.0 years |
12 kW | $3.68 | $30,952 | $15,383 | 16.7 years |
14 kW | $3.61 | $35,374 | $18,684 | 16.4 years |
16 kW | $3.53 | $39,585 | $22,195 | 16.0 years |
18 kW | $3.46 | $43,586 | $25,917 | 15.7 years |
20 kW | $3.38 | $47,376 | $29,850 | 15.3 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Installation Process: When making the switch to solar, it’s crucial to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project timeline.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Herrin, IL Solar Cost FAQs
What is the average cost of installing solar panels in Herrin?
This is a hard question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other 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 efficient solar panels.
Should I lease or buy solar panels in Herrin?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback 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 Herrin?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.