Solar Panel Cost Guide in Moline, IL (2024 Update)
- Moline Solar Installation Cost: $16,986
- 25-Year Savings: $7,454
- Payback Period: 21.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Moline
Let’s take a look at the average cost of solar panels in Moline.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Moline, the typical cost of solar panels is 4 per watt.The average solar panel system size in Moline is around 6.5 kilowatts, meaning a cost of about $16,986 for a solar installation, or $24,290 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Moline homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a rewarding investment. The average homeowner in Moline can save around $12,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Moline that can help you get a more accurate cost estimate for your home.
Solar savings over time in Moline
| Year | Return on Investment |
|---|---|
| 1 years | $-16,145 |
| 3 years | $-14,463 |
| 5 years | $-12,781 |
| 7 years | $-11,099 |
| 9 years | $-9,417 |
| 11 years | $-7,735 |
| 13 years | $-6,053 |
| 15 years | $-4,371 |
| 17 years | $-2,689 |
| 19 years | $-1,007 |
| 21 years | $675 |
| 23 years | $2,357 |
| 25 years | $4,039 |
Top Solar Installers in Moline
When going solar, many homeowners prefer to use a solar installer since DIY solar panel installation can be a difficult project. Another great thing about going with a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Moline
Factors that Affect Solar Panel Costs in Moline
For many Moline homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Moline, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Moline, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by around $3,760 for each additional kilowatt you need.The type of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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 into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Moline to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Moline, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Moline know more about local solar incentives and can help you learn about 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 end up saving you 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 | $1,972 | 22.3 years |
| 8 kW | $3.84 | $21,477 | $3,051 | 21.9 years |
| 10 kW | $3.76 | $26,320 | $4,340 | 21.5 years |
| 12 kW | $3.68 | $30,952 | $5,839 | 21.0 years |
| 14 kW | $3.61 | $35,374 | $7,549 | 20.6 years |
| 16 kW | $3.53 | $39,585 | $9,470 | 20.2 years |
| 18 kW | $3.46 | $43,586 | $11,602 | 19.7 years |
| 20 kW | $3.38 | $47,376 | $13,943 | 19.3 years |
How to Save on Solar Panels
There are many companies available in Moline, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
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 Moline, IL Solar Cost FAQs
How much does it cost to install solar panels in Moline?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Moline?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.