Solar Panel Cost Guide in Montgomery, IL (Feb 2023)
- Montgomery Solar Installation Cost: $12,441
- 25-Year Savings: $10,171
- Payback Period: 13.7 Years
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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:
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.
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.
EcoWatch's Montgomery, IL Solar Cost FAQs
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.