Solar Panel Cost Guide in Maryville, IL (Jan 2023)
- Maryville Solar Installation Cost: $11,695
- 25-Year Savings: $8,135
- Payback Period: 14.7 Years
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Top Solar Installers in Maryville
Although it's possible to install solar panels yourself, it requires extra time and expertise. For that reason, most people choose to go with a solar panel installer. The expertise that solar companies provide can be useful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
If you're searching for a solar company in Maryville, the EcoWatch team has compiled a list of our top suggestions here:
See all of the solar companies in Maryville
Factors that Affect Solar Panel Costs in Maryville
For many Maryville homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Maryville, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,730 per kilowatt in Maryville. The brand and type of equipment you choose for your solar system can increase or decrease 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Maryville to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. While solar loans make switching to solar energy more accessible for Maryville 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 make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Maryville, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment 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||$7,525||15.3 years|
|8 kW||$2.78||$15,594||$10,339||15.0 years|
|10 kW||$2.73||$19,110||$13,306||14.7 years|
|12 kW||$2.68||$22,473||$16,426||14.4 years|
|14 kW||$2.62||$25,684||$19,698||14.1 years|
|16 kW||$2.57||$28,741||$23,124||13.9 years|
|18 kW||$2.51||$31,646||$26,702||13.6 years|
|20 kW||$2.46||$34,398||$30,434||13.3 years|
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: When reading over your solar installer'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.
EcoWatch's Maryville, IL Solar Cost FAQs
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.