Solar Panel Cost Guide in Indian Grove, IL (Mar 2023)
- Indian Grove Solar Installation Cost: $12,173
- 25-Year Savings: $13,377
- Payback Period: 11.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Indian Grove
Here's how much it might cost to go solar in Indian Grove.
In Indian Grove, solar panels cost about 2.73 per watt on average. Because a 6.4-kW system is needed to cover the energy needs of a typical home in Indian Grove, the average price of going solar will be about $12,173 after claiming the federal solar tax credit of 30%.
These figures are just averages, and the cost of going solar for you will most likely look different based on your specific situation and what company you go with. Despite the high initial cost, the average Indian Grove homeowner can save around $15,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a pre-vetted solar installer in Indian Grove, you can click the button below.
Solar savings over time in Indian Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-11,151 |
| 3 years | $-9,107 |
| 5 years | $-7,063 |
| 7 years | $-5,019 |
| 9 years | $-2,975 |
| 11 years | $-931 |
| 13 years | $1,113 |
| 15 years | $3,157 |
| 17 years | $5,201 |
| 19 years | $7,245 |
| 21 years | $9,289 |
| 23 years | $11,333 |
| 25 years | $13,377 |
Top Solar Installers in Indian Grove
When switching to solar energy, many homeowners opt to go with a solar installation company since DIY solar panel installation can be a time-consuming project. The expertise that solar installers offer can be valuable as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
If you're on the hunt for a solar company in Indian Grove, we've 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 (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Indian Grove
Factors that Affect Solar Panel Costs in Indian Grove
There are a number of factors that can determine 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 size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,730. The type of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Indian Grove provide solar loans, which reduce your upfront costs of installing solar panels. It's wise to include 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
The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Indian Grove, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $12,127 | 12.4 years |
| 8 kW | $2.78 | $15,594 | $16,476 | 12.2 years |
| 10 kW | $2.73 | $19,110 | $20,977 | 11.9 years |
| 12 kW | $2.68 | $22,473 | $25,631 | 11.7 years |
| 14 kW | $2.62 | $25,684 | $30,438 | 11.4 years |
| 16 kW | $2.57 | $28,741 | $35,397 | 11.2 years |
| 18 kW | $2.51 | $31,646 | $40,510 | 11.0 years |
| 20 kW | $2.46 | $34,398 | $45,776 | 10.7 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Indian Grove, IL Solar Cost FAQs
How much does it cost to install solar panels in Indian Grove?
The average cost of solar panels in Indian Grove 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 stuff like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Does Indian Grove have a net metering program?
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 utility bills.
How often do you have to replace solar panels?
On average, solar panels can last 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 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.