Solar Panel Cost Guide in Montgomery, IL (2023 Update)
- Montgomery Solar Installation Cost: $12,441
- 25-Year Savings: $10,171
- Payback Period: 13.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Montgomery
Find out what the average cost of a solar system is in Montgomery.
While the national average of solar panels is $2.66 per watt, solar panels in Montgomery generally cost about 2.73. Using this figure, a typical 6.5-kW system would cost about $12,441 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Montgomery based on several factors, such as the brand of solar panels you choose and the solar installer you hire. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $13,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Montgomery that can help you get a more accurate cost estimate for your home.
Solar savings over time in Montgomery
| Year | Return on Investment |
|---|---|
| 1 years | $-11,536 |
| 3 years | $-9,727 |
| 5 years | $-7,918 |
| 7 years | $-6,109 |
| 9 years | $-4,300 |
| 11 years | $-2,491 |
| 13 years | $-682 |
| 15 years | $1,126 |
| 17 years | $2,935 |
| 19 years | $4,744 |
| 21 years | $6,553 |
| 23 years | $8,362 |
| 25 years | $10,171 |
Top Solar Installers in Montgomery
Although it's possible to install solar panels by yourself, it requires extra effort and knowledge. Because of that, the majority of homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be valuable as well, particularly if you don't quite know what brand of solar equipment you need.
If you'd like to go solar but still aren't certain which solar company to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Montgomery
Factors that Affect Solar Panel Costs in Montgomery
There are several criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Montgomery, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Montgomery to be prohibitively steep, 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 because of interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Montgomery, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that has 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 | $8,931 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,214 | 14.0 years |
| 10 kW | $2.73 | $19,110 | $15,650 | 13.7 years |
| 12 kW | $2.68 | $22,473 | $19,238 | 13.5 years |
| 14 kW | $2.62 | $25,684 | $22,980 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,874 | 12.9 years |
| 18 kW | $2.51 | $31,646 | $30,921 | 12.6 years |
| 20 kW | $2.46 | $34,398 | $35,121 | 12.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose considerably influences your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: The type of solar panel you'd like to install plays a part in which company you should choose, since different companies have different panels.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Montgomery, IL Solar Cost FAQs
How much does it cost to install solar panels in Montgomery?
The average cost of solar panels in Montgomery is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.