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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Montgomery

We break down average solar pricing in Montgomery.

The average cost of a solar system in Montgomery is 4 per watt.The average solar panel system size in Montgomery is around 6.5 kilowatts, meaning a cost of about $17,121 for a solar installation, or $24,483 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with.With average savings of about $13,000 on energy bills over 20 years, many homeowners in Montgomery find going solar has a decent ROI.

You can click the button below to get connected with a vetted solar installer in Montgomery that can help you get a more accurate cost estimate for your home.

Solar savings over time in Montgomery

YearReturn 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

Although you can install solar panels yourself, it takes extra effort and knowledge. That's one of the reasons most homeowners choose a solar panel installer. Another perk of going with a solar installer is that they can help you make the most of your return of investment by lowering your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.

You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:

Best National Provider

SunPower

★★★★★
5.0
  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0
  • 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 Montgomery

Factors that Affect Solar Panel Costs in Montgomery

For many Montgomery homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Montgomery, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,760. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Most solar installers in Montgomery offer solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also increases your total costs, so it’s crucial to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

Lastly, the company you choose to install your solar panels can impact how much you pay. Montgomery’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.91$16,424$4,43219.7 years
8 kW$3.84$21,477$6,33119.3 years
10 kW$3.76$26,320$8,44018.9 years
12 kW$3.68$30,952$10,75918.6 years
14 kW$3.61$35,374$13,28918.2 years
16 kW$3.53$39,585$16,03017.8 years
18 kW$3.46$43,586$18,98117.4 years
20 kW$3.38$47,376$22,14317.0 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:

  • Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
  • Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project timeline rebates and warranties.
  • Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0
  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

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 real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to consider when buying solar panels?

The upfront cost is a crucial 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 trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

How much can I save on electricity bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on where you’re located 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?

Even 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 choose 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.