Solar Panel Cost Guide in Metamora, IL (2024 Update)
- Metamora Solar Installation Cost: $16,751
- 25-Year Savings: $10,151
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Metamora
Here’s how much it might cost to make the switch to solar in Metamora.
In Metamora, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Metamora, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,751, or $23,954 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what installation company you go with.For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Metamora see about $13,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Metamora that can help you get a more accurate cost estimate for your home.
Solar savings over time in Metamora
| Year | Return on Investment |
|---|---|
| 1 years | $-15,900 |
| 3 years | $-14,199 |
| 5 years | $-12,498 |
| 7 years | $-10,797 |
| 9 years | $-9,095 |
| 11 years | $-7,394 |
| 13 years | $-5,693 |
| 15 years | $-3,991 |
| 17 years | $-2,290 |
| 19 years | $-589 |
| 21 years | $1,113 |
| 23 years | $2,814 |
| 25 years | $4,515 |
Top Solar Installers in Metamora
Many homeowners decide to hire a solar installer since trying to put up solar panels yourself can be a lot of work. The expertise that solar companies provide can be helpful as well, especially if you aren’t sure what brand of solar equipment you need.
Working with a vetted solar company can help your solar project go smoothly. 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 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 Metamora
Factors that Affect Solar Panel Costs in Metamora
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Metamora: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Metamora average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your all-in costs, so it’s vital to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Metamora is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets.Additionally, some companies in Metamora have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $4,612 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,570 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,739 | 18.8 years |
| 12 kW | $3.68 | $30,952 | $11,118 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,708 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,509 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,520 | 17.3 years |
| 20 kW | $3.38 | $47,376 | $22,741 | 16.9 years |
How to Save on Solar Panels
There are a lot of companies available in Metamora, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
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 Metamora, IL Solar Cost FAQs
What is the average cost of installing solar panels in Metamora?
The average cost of solar panels in Metamora is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Metamora?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is it worth going solar in Metamora?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Metamora?
On average, the lifespan of solar panels is 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 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.