Solar Panel Cost Guide in Moraine, IL (2024 Update)
- Moraine Solar Installation Cost: $16,643
- 25-Year Savings: $10,528
- Payback Period: 18.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Moraine
We go over average solar pricing in Moraine.
While the national average of solar panels is $2.66 per watt, solar panels in Moraine generally cost around 4.The average solar panel system size in Moraine is around 6.3 kilowatts, meaning a cost of about $16,643 for a solar installation, or $23,799 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar panels you want to get, your solar contractor and more.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Moraine see about $14,000 in savings on energy bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Moraine
Year | Return on Investment |
---|---|
1 years | $-15,487 |
3 years | $-13,174 |
5 years | $-10,862 |
7 years | $-8,550 |
9 years | $-6,237 |
11 years | $-3,925 |
13 years | $-1,612 |
15 years | $700 |
17 years | $3,012 |
19 years | $5,325 |
21 years | $7,637 |
23 years | $9,949 |
25 years | $12,262 |
Top Solar Installers in Moraine
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using a solar company can make switching to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you choose which one will be right for your home.
If you're looking for a solar installer in Moraine, we've organized a list of our top suggestions here:
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 Moraine
Factors that Affect Solar Panel Costs in Moraine
While the average cost of a solar system in Moraine is $16,643, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 around $3,760 per kilowatt in Moraine.The brand of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Moraine, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your all-in costs, so it’s vital to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Moraine, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.The company’s size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally 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 size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $3.91 | $16,424 | $5,032 | 19.1 years |
8 kW | $3.84 | $21,477 | $7,130 | 18.8 years |
10 kW | $3.76 | $26,320 | $9,439 | 18.4 years |
12 kW | $3.68 | $30,952 | $11,959 | 18.0 years |
14 kW | $3.61 | $35,374 | $14,689 | 17.7 years |
16 kW | $3.53 | $39,585 | $17,630 | 17.3 years |
18 kW | $3.46 | $43,586 | $20,781 | 16.9 years |
20 kW | $3.38 | $47,376 | $24,143 | 16.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Review the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: The model of solar panel you’d like to get plays a role in which company you should opt for, since different companies provide different panels.
- Warranty: If you’re worried about the durability of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Moraine, IL Solar Cost FAQs
What is the average cost of installing solar panels in Moraine?
The average cost of solar panels in Moraine 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 type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Moraine?
Solar panels aren’t free in Moraine, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Moraine?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Moraine?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.