Solar Panel Cost Guide in Kewanee, IL (Mar 2023)
- Kewanee Solar Installation Cost: $12,288
- 25-Year Savings: $11,680
- Payback Period: 12.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Kewanee
Find out what the average cost of installing solar panels is in Kewanee.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Kewanee, the typical cost of solar panels is 2.73 per watt. Using this figure, a typical 6.4-kW system would cost about $12,288 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy usage and what company you go with. With typical savings of about $14,000 on energy bills over 20 years, many homeowners in Kewanee find going solar can be quite rewarding.
You can click the button below to get connected with a vetted solar company in Kewanee that can help you get a more accurate cost estimate for your home.
Solar savings over time in Kewanee
| Year | Return on Investment |
|---|---|
| 1 years | $-11,329 |
| 3 years | $-9,412 |
| 5 years | $-7,494 |
| 7 years | $-5,577 |
| 9 years | $-3,659 |
| 11 years | $-1,742 |
| 13 years | $176 |
| 15 years | $2,093 |
| 17 years | $4,011 |
| 19 years | $5,928 |
| 21 years | $7,845 |
| 23 years | $9,763 |
| 25 years | $11,680 |
Top Solar Installers in Kewanee
Although it's possible to install solar panels yourself, it requires extra time and know-how. That's why the majority of homeowners choose to go with a solar panel installer. 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.
If you'd like to switch to solar energy but still aren't sure which solar panel company to go with, here are our recommendations for providers nearby:
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 Kewanee
Factors that Affect Solar Panel Costs in Kewanee
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Kewanee: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Kewanee average.
Solar Financing Terms
Many homeowners find the average cost of solar in Kewanee to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. Though solar loans make adopting solar energy more accessible for Kewanee homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact your pricing. Kewanee's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices 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 discount 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 | $10,443 | 13.3 years |
| 8 kW | $2.78 | $15,594 | $14,230 | 13.1 years |
| 10 kW | $2.73 | $19,110 | $18,169 | 12.8 years |
| 12 kW | $2.68 | $22,473 | $22,262 | 12.6 years |
| 14 kW | $2.62 | $25,684 | $26,507 | 12.3 years |
| 16 kW | $2.57 | $28,741 | $30,906 | 12.0 years |
| 18 kW | $2.51 | $31,646 | $35,457 | 11.8 years |
| 20 kW | $2.46 | $34,398 | $40,161 | 11.5 years |
How to Save on Solar Panels
The solar panel company you choose 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 some important things you should consider, such as:
- Solar Panel Brands: The brand of solar panel you need plays a part in which installer you should go with, since different companies provide different panels.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: If you're concerned about the endurance of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: When making the switch to solar power, it's crucial to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project timeline.
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 Kewanee, IL Solar Cost FAQs
What is the average cost of installing solar panels in Kewanee?
The average cost of solar panels in Kewanee 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 model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost 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 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 think about are the quality and durability of your solar panels.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Kewanee, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.