Solar Panel Cost Guide in Montgomery, IL (2024 Update)
- Montgomery Solar Installation Cost: $17,121
- 25-Year Savings: $11,783
- Payback Period: 18.9 Years
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Average Cost of Solar Panels in Montgomery
We break down average solar pricing in Montgomery.
The national average cost of solar panels is $2.66 per watt, but in Montgomery it’s 4 per watt.Because a 6.5-kW system is needed to cover the energy costs of a typical home in Montgomery, the average price of going solar will be about $17,121 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary based on a few factors, such as what size system you need, your energy consumption and what installation company you go with.For most homeowners, the upfront investment in solar is worth paying. On average Montgomery homeowners see about $13,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Montgomery
| Year | Return on Investment |
|---|---|
| 1 years | $-15,965 |
| 3 years | $-13,653 |
| 5 years | $-11,341 |
| 7 years | $-9,028 |
| 9 years | $-6,716 |
| 11 years | $-4,404 |
| 13 years | $-2,091 |
| 15 years | $221 |
| 17 years | $2,534 |
| 19 years | $4,846 |
| 21 years | $7,158 |
| 23 years | $9,471 |
| 25 years | $11,783 |
Top Solar Installers in Montgomery
Trying to put up solar panels by yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. Some solar installers, especially local ones, can help you make the most of incentives in Montgomery, therefore optimizing your ROI.
There are various licensed solar professionals that can take care of your solar installation project. 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Montgomery
Factors that Affect Solar Panel Costs in Montgomery
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Montgomery: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most important 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 $3,760 per kilowatt in Montgomery.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Montgomery, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a part in determining how much you pay. Montgomery’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk 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 | $3.91 | $16,424 | $4,432 | 19.7 years |
| 8 kW | $3.84 | $21,477 | $6,331 | 19.3 years |
| 10 kW | $3.76 | $26,320 | $8,440 | 18.9 years |
| 12 kW | $3.68 | $30,952 | $10,759 | 18.6 years |
| 14 kW | $3.61 | $35,374 | $13,289 | 18.2 years |
| 16 kW | $3.53 | $39,585 | $16,030 | 17.8 years |
| 18 kW | $3.46 | $43,586 | $18,981 | 17.4 years |
| 20 kW | $3.38 | $47,376 | $22,143 | 17.0 years |
How to Save on Solar Panels
There are a large number of companies available in Montgomery, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Montgomery, IL Solar Cost FAQs
What is the average cost of installing solar panels in Montgomery?
The average cost of solar panels in Montgomery 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 type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $695.19 per year.
How long do solar panels last in Montgomery?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.