Solar Panel Cost Guide in Monticello, IL (2025 Update)
- Monticello Solar Installation Cost: $16,569
- 25-Year Savings: $13,828
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Monticello
Here’s how much it might cost to make the switch to solar in Monticello.
The national average cost of solar panels is $2.66 per watt, but in Monticello it’s 4 per watt.The average solar panel system size in Monticello is around 6.3 kilowatts, meaning a cost of about $16,569 for a solar installation, or $23,694 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.Even with the significant upfront cost, the average Monticello homeowner can save about $16,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar company in your area for a customized quote.
Solar savings over time in Monticello
| Year | Return on Investment |
|---|---|
| 1 years | $-15,719 |
| 3 years | $-14,017 |
| 5 years | $-12,316 |
| 7 years | $-10,615 |
| 9 years | $-8,914 |
| 11 years | $-7,212 |
| 13 years | $-5,511 |
| 15 years | $-3,810 |
| 17 years | $-2,108 |
| 19 years | $-407 |
| 21 years | $1,294 |
| 23 years | $2,995 |
| 25 years | $4,697 |
Top Solar Installers in Monticello
Although it's possible to install solar panels on your own, it requires extra effort and knowledge. Because of that, most homeowners choose to go with a solar panel installer. Solar warranties and repairs are typically included in the cost of installation when you go with a solar contractor as well, which can save you more money over time.
If you’d like to make the switch to solar but still aren’t sure which solar system installer 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 for Leasing
Sunrun
- 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 Monticello
Factors that Affect Solar Panel Costs in Monticello
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Monticello: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,760. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Monticello, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Monticello have solar loans, which reduce the initial cost of installing a solar system.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $8,221 | 16.7 years |
| 8 kW | $3.84 | $21,477 | $11,383 | 16.3 years |
| 10 kW | $3.76 | $26,320 | $14,755 | 16.0 years |
| 12 kW | $3.68 | $30,952 | $18,338 | 15.7 years |
| 14 kW | $3.61 | $35,374 | $22,131 | 15.4 years |
| 16 kW | $3.53 | $39,585 | $26,135 | 15.1 years |
| 18 kW | $3.46 | $43,586 | $30,349 | 14.7 years |
| 20 kW | $3.38 | $47,376 | $34,774 | 14.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, 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 looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
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
EcoWatch's Monticello, IL Solar Cost FAQs
What is the average cost of installing solar panels in Monticello?
The average cost of solar panels in Monticello 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 stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is a crucial 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 be mindful of are the quality and durability of your solar panels.
Is it worth going solar in Monticello?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.