Solar Panel Cost Guide in Momence, IL (2023 Update)
- Momence Solar Installation Cost: $12,246
- 25-Year Savings: $10,366
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Momence
Find out how much it might cost to go solar in Momence.
While the national average of solar panels is $2.66 per watt, solar panels in Momence typically cost about 2.73. Using this figure, a typical 6.4-kW system would cost about $12,250 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will vary based on your specific situation and what company you want to go with. Despite the high initial cost, the average Momence homeowner can save about $13,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar company in Momence for a quote for your home.
Solar savings over time in Momence
| Year | Return on Investment |
|---|---|
| 1 years | $-12,171 |
| 3 years | $-12,020 |
| 5 years | $-11,869 |
| 7 years | $-11,719 |
| 9 years | $-11,568 |
| 11 years | $-11,417 |
| 13 years | $-11,266 |
| 15 years | $-11,116 |
| 17 years | $-10,965 |
| 19 years | $-10,814 |
| 21 years | $-10,663 |
| 23 years | $-10,513 |
| 25 years | $-10,362 |
Top Solar Installers in Momence
Although it's possible to install solar panels on your own, it takes extra energy and know-how. That's one of the reasons most people choose a solar panel installer. Plus, if you're unsure what type of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you'd like to make the switch to solar but still aren't certain which solar system company to go with, here are our suggestions for providers in Momence:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Momence
Factors that Affect Solar Panel Costs in Momence
There are many criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of solar panels in Momence, one of the most crucial 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 consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,730 for each additional kilowatt you need. The 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. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Momence average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can play a part in determining the cost. Momence's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that provides the products, warranties and services you want and also fit into your budget.
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 | $9,246 | 14.1 years |
| 8 kW | $2.78 | $15,594 | $12,634 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,175 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,869 | 13.3 years |
| 14 kW | $2.62 | $25,684 | $23,715 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,715 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $31,867 | 12.5 years |
| 20 kW | $2.46 | $34,398 | $36,172 | 12.2 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two 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 satisfied reviews from past customers.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Momence, IL Solar Cost FAQs
What is the average cost of installing solar panels in Momence?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 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 above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Momence?
You can't get solar panels for free in Momence. However, you may still be able to install 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.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Momence?
On average, solar panels can last 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.