Solar Panel Cost Guide in Morrison, IL (2024 Update)
- Morrison Solar Installation Cost: $17,039
- 25-Year Savings: $15,756
- Payback Period: 15.1 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 Morrison
Find out what the average cost of solar panels are in Morrison.
In Morrison, solar panels cost about 4 per watt on average.Because a 6.5-kW system is needed to cover the energy costs of a typical home in Morrison, the average price of going solar will be about $17,039 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Morrison homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the significant upfront cost, the average Morrison homeowner can save about $17,000 on their power bills over 20 years, which is one of the benefits of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Morrison
| Year | Return on Investment |
|---|---|
| 1 years | $-15,882 |
| 3 years | $-13,570 |
| 5 years | $-11,258 |
| 7 years | $-8,945 |
| 9 years | $-6,633 |
| 11 years | $-4,321 |
| 13 years | $-2,008 |
| 15 years | $304 |
| 17 years | $2,616 |
| 19 years | $4,929 |
| 21 years | $7,241 |
| 23 years | $9,554 |
| 25 years | $11,866 |
Top Solar Installers in Morrison
When making the switch to solar, many homeowners prefer to use a solar installer since installing a solar system yourself can be a challenging project. The expertise that solar installers provide can be helpful as well, particularly if you don’t quite know what brand of solar equipment would be right for your home.
If you're searching for a solar company in Morrison, we've put together 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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Morrison
Factors that Affect Solar Panel Costs in Morrison
There are a number of factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Morrison, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited 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 Morrison to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time due to interest.Although solar loans make switching to solar energy more accessible for Morrison homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in Morrison, and each can charge varying amounts for labor and equipment.The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $9,645 | 15.8 years |
| 8 kW | $3.84 | $21,477 | $13,282 | 15.4 years |
| 10 kW | $3.76 | $26,320 | $17,129 | 15.1 years |
| 12 kW | $3.68 | $30,952 | $21,186 | 14.8 years |
| 14 kW | $3.61 | $35,374 | $25,454 | 14.5 years |
| 16 kW | $3.53 | $39,585 | $29,932 | 14.2 years |
| 18 kW | $3.46 | $43,586 | $34,621 | 13.9 years |
| 20 kW | $3.38 | $47,376 | $39,521 | 13.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Warranty: If you’re worried about the endurance of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Morrison, IL Solar Cost FAQs
What is the average cost of installing solar panels in Morrison?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Morrison?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How will solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Morrison is currently $144,000, so you can look forward to a value of about $5,904 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Morrison is a rewarding investment.
How often do you have to replace solar panels?
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 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.