Solar Panel Cost Guide in Millstadt, IL (2024 Update)
- Millstadt Solar Installation Cost: $16,000
- 25-Year Savings: $13,612
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Millstadt
We break down average solar pricing in Millstadt.
While the national average of solar panels is $2.66 per watt, solar panels in Millstadt typically cost about 4.To account for the typical energy needs of the average home in Millstadt, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs about $16,000, or $22,880 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Millstadt homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar installer in Millstadt for a quote for your home.
Solar savings over time in Millstadt
| Year | Return on Investment |
|---|---|
| 1 years | $-15,149 |
| 3 years | $-13,448 |
| 5 years | $-11,746 |
| 7 years | $-10,045 |
| 9 years | $-8,344 |
| 11 years | $-6,643 |
| 13 years | $-4,941 |
| 15 years | $-3,240 |
| 17 years | $-1,539 |
| 19 years | $163 |
| 21 years | $1,864 |
| 23 years | $3,565 |
| 25 years | $5,267 |
Top Solar Installers in Millstadt
Although you can install solar panels on your own, it involves extra effort and know-how. For that reason, most homeowners choose to hire a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money over time.
If you’d like to go solar but still aren’t certain which solar company to go with, here are our suggestions for providers nearby:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Millstadt
Factors that Affect Solar Panel Costs in Millstadt
The cost of installing a solar system in Millstadt can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.It’s wise to add 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Millstadt, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $8,477 | 16.5 years |
| 8 kW | $3.84 | $21,477 | $11,724 | 16.2 years |
| 10 kW | $3.76 | $26,320 | $15,182 | 15.9 years |
| 12 kW | $3.68 | $30,952 | $18,850 | 15.5 years |
| 14 kW | $3.61 | $35,374 | $22,728 | 15.2 years |
| 16 kW | $3.53 | $39,585 | $26,817 | 14.9 years |
| 18 kW | $3.46 | $43,586 | $31,117 | 14.6 years |
| 20 kW | $3.38 | $47,376 | $35,627 | 14.3 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Millstadt, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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 positive reviews from past customers.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Millstadt, IL Solar Cost FAQs
What is the average cost of installing solar panels in Millstadt?
The average cost of solar panels in Millstadt 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Millstadt?
You can’t get solar panels for free in Millstadt. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Millstadt?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
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 higher 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.